Palantir Just Did This for the First Time Ever. Is the Stock a Buy?

Palantir delivered a blowout Q3 earnings report with 96% revenue growth to $2.3 billion and raised full-year forecasts. For the first time, U.S. commercial revenue ($984M) surpassed U.S. government revenue ($953M), signaling a major shift in the company's business model. While the stock is expensive at over 100x forward earnings, it may appeal to aggressive long-term investors given strong growth momentum and expanding commercial customer base (600+ customers vs. fewer than 20 years ago).