📊 Palantir’s revenue mix is shifting. Long seen as a government contractor, that label is becoming outdated.

🏛 In Q2 FY2026, total revenue hit $1.94B: U.S. government $809M, U.S. commercial $764M, and rest of world $362M. Government still leads, but commercial is catching up fast.
🚀 The commercial segment grew 149% year‑over‑year—well above all others. That’s the real story: government contracts built the brand, but private‑sector software sales now drive most new revenue. If this pace holds, commercial could overtake government within one to two years, fundamentally reshaping how the market views Palantir’s core business.