Palantir (PLTR) reported third-quarter revenue up 96% to $2.3 billion and raised some full-year forecasts. For the first time, its U.S. commercial revenue ($984 million) surpassed its U.S. government revenue ($953 million), as its U.S. commercial customers grew from fewer than 20 a few years ago to more than 600. The stock is still described as expensive, at more than 100x forward earnings estimates, while new U.S. commercial contract value reached $1.4 billion in the third quarter, up 11%, after $2.1 billion (up 153%) in the second quarter. The author views the stock as a better fit for aggressive investors willing to hold for the long run.
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