Direct Answer
Palantir Technologies reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Government Operating is the largest, with $2.4 billion of revenue (54% of the total), followed by Commercial at $2.1 billion (46%).
How Does Palantir Technologies Make Money?
No single line supplies a majority of revenue: the largest, Government Operating, is 54%, which spreads Palantir Technologies's exposure across several demand drivers. Between fiscal 2024 and 2025, Commercial grew fastest (+60.0%) and Government Operating slowest (+53.1%), so the revenue mix tilts toward Commercial while that gap lasts.
| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
|---|---|---|---|---|
| Government Operating | $2.4 billion | $1.6 billion | 53.7% | 53.1% |
| Commercial | $2.1 billion | $1.3 billion | 46.3% | 60.0% |
What the Segment Figures Do Not Show
The rows above add up to 100% of Palantir Technologies's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.
Where These Numbers Come From
Every figure on this page is a value Palantir Technologies reported in the segment note and revenue disclosures of its Form 10-K filed February 17, 2026 (accession 0001321655-26-000011), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.
Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.
Frequently Asked Questions
What are Palantir Technologies's business segments?
In its fiscal 2025 Form 10-K, Palantir Technologies reports revenue for Government Operating and Commercial.
Which part of Palantir Technologies brings in the most revenue?
Government Operating, with $2.4 billion of revenue in fiscal 2025, or 54% of the total.
Where does Palantir Technologies report its segment results?
In the segment note to the financial statements in its Form 10-K, most recently filed February 17, 2026, alongside management's discussion of each segment's results.