---
title: "Europe Is Firing Palantir Over a Book Worth Ten Weeks of Revenue"
description: "An 18-country investigation prices Palantir's continental book at $296 million, and six governments are timing their exits. Against $8.15 billion of guided 2026 revenue and a NATO and Pentagon book that deepened again this month, Europe is a rounding error with a deadline."
publisher: "The Inference"
section: "Policy"
published: 2026-10-17T19:15:38.377Z
modified: 2026-10-17T19:15:38.377Z
canonical: https://theinference.org/article/europe-is-firing-palantir-over-a-book-worth-ten-weeks-of-revenue
language: en
keywords: "Palantir, Europe, Defense, NHS, Government Contracts, Alex Karp"
---

# Europe Is Firing Palantir Over a Book Worth Ten Weeks of Revenue

> An 18-country investigation prices Palantir's continental book at $296 million, and six governments are timing their exits. Against $8.15 billion of guided 2026 revenue and a NATO and Pentagon book that deepened again this month, Europe is a rounding error with a deadline.

## Karp's one-word verdict now has a price tag

"The growth sucks." That was [Palantir](https://theinference.org/markets/companies/palantir) chief executive [Alex Karp](https://theinference.org/markets/people/alex-karp) on August 3, describing Europe to shareholders while colleagues defended an "incredible" US quarter [1]. On October 16 [the first document-based count of that book](https://english.elpais.com/economy-and-business/2026-10-16/armies-healthcare-systems-and-intelligence-services-11-european-countries-already-have-multimillion-dollar-contracts-with-palantir.html) landed: journalists in 18 countries, led by the Dutch outlet Follow the Money, tallied dozens of public records into the widest map yet of Palantir's contracts across the continent [1].

## Six governments have dated their exits

Spain's only contract, €16.5 million to run the armed forces' intelligence databases, expires at year-end and will not be renewed, with a Spanish firm building the replacement if the government survives its November 29 election [1]. France's domestic intelligence agency, Norway's police, the Netherlands and Denmark have each moved toward European substitutes [1]. The UK's new prime minister, Andy Burnham, wants Palantir out of the NHS and the Ministry of Defence [1]; 16 NHS trusts and boards have [told freedom-of-information requests](https://www.theguardian.com/technology/2026/oct/17/palantir-patient-data-tech-rejected-by-many-nhs-trusts-in-england) they do not use [the £330 million patient-data platform](https://theinference.org/article/a-maine-court-filing-puts-palantir-s-ice-database-in-evidence-weeks-before-britain-s-330m-decision), whose break clause falls in February 2027 [2][3].

## The whole book is worth ten weeks

Everything Palantir has signed in Europe since 2012, about $1.6 billion including the UK, adds up to roughly ten weeks of its own guided 2026 revenue [1][4].

*Chart: **Palantir's entire European book vs one year of guided revenue** Bar chart comparing Palantir's UK and continental European contract values with its 2026 revenue guidance*

*Known contract values from the 18-country tally, in billions of dollars, against company guidance for full-year 2026 revenue. Sources: [1], [4] [1][4]*

## The engine that makes Europe optional

[Quarterly revenue has nearly tripled in two years, to $1.94 billion](https://theinference.org/article/palantir-grew-93-last-quarter-as-europe-and-india-build-its-rivals), and [full-year guidance has been raised twice](https://www.ad-hoc-news.de/boerse/news/corporate-news/palantir-stock-extends-gains-on-93-percent-q2-revenue-growth/70136214), to $8.15 billion to $8.16 billion [4][5].

*Chart: **Quarterly revenue nearly tripled in two years, to $1.94 billion** Line chart of Palantir quarterly revenue from Q3 2023 to Q2 2026, rising from $0.56 billion to $1.94 billion*

*Quarterly revenue, in billions of dollars, from SEC filings. Source: [5] [5]*

International sales, about $362 million last quarter, grew 34%, the slowest piece of the business [6]. [The deepening runs the other way](https://theinference.org/article/the-defense-department-paid-palantir-2-05-billion-in-a-year-the-short-case-runs-through-the-commercial-line): NATO has used Palantir's Maven Smart System as its central command software since March 2025 [1], the US Army just [awarded Anduril up to $1.8 billion](https://www.andurilnews.com/news/2026/10/us-army-awards-anduril-contract-worth-up-to-1-8-billion-for-ngc2/) to scale a command network prototyped with Palantir [7], and [Goldman Sachs](https://theinference.org/markets/companies/goldman-sachs) upgraded the stock to Buy on October 8 on sovereign-AI demand [8].

## Palantir's answer: 137 trusts and a green rating

The company calls the NHS platform one of just 20% of major government programs with a green delivery rating, and NHS England says 137 trusts report benefits, from 117,000 additional operations to a 14.3% drop in discharge delays, while conceding the figures cannot prove cause and effect [2]. Its UK chief puts it more plainly: "[If NATO went to war, it would go to war using Palantir](https://www.wired.com/story/the-uk-government-faces-a-reckoning-over-palantir/)" [3].

## November settles the argument

[The Q3 report lands on November 2](https://investors.palantir.com/) [9], Spain votes on the 29th [1], and the UK's break-clause call is due this autumn [3]. Karp has asked to be judged on growing the whole company at his US commercial rate, 134%, for 18 months [6]. Six governments have decided they can live without Palantir. The question on November 2 is whether Palantir notices.

## Takeaway

Europe's whole known Palantir book is about $296 million against $8.15 billion of guided 2026 revenue; six governments are exiting, and the Q3 print on November 2 shows whether Palantir notices.

## Sources

1. [EL PAÍS with Follow the Money, "Armies, healthcare systems and intelligence services: 11 European countries already have multimillion-dollar contracts with Palantir", 16 October 2026](https://english.elpais.com/economy-and-business/2026-10-16/armies-healthcare-systems-and-intelligence-services-11-european-countries-already-have-multimillion-dollar-contracts-with-palantir.html)
2. [The Guardian, "Palantir patient data tech rejected by many NHS trusts in England", 17 October 2026](https://www.theguardian.com/technology/2026/oct/17/palantir-patient-data-tech-rejected-by-many-nhs-trusts-in-england)
3. [WIRED, "The UK Government Faces a Reckoning Over Palantir", 22 September 2026](https://www.wired.com/story/the-uk-government-faces-a-reckoning-over-palantir/)
4. [AD HOC NEWS, "Palantir stock extends gains on 93 percent Q2 revenue growth", 20 September 2026](https://www.ad-hoc-news.de/boerse/news/corporate-news/palantir-stock-extends-gains-on-93-percent-q2-revenue-growth/70136214)
5. [Palantir, quarterly figures from its SEC filings, retrieved 17 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001321655)
6. [The Motley Fool, "Alex Karp Set Palantir a 134% Growth Target for the Whole Company", 11 September 2026](https://www.fool.com/investing/2026/09/11/alex-karp-set-palantir-a-134-growth-target-for-the-whole-company-here-s-what-it-would-take-to-hit-it/)
7. [Anduril News, "Anduril wins $1.8B Army contract to expand next-gen battlefield command system", 13 October 2026](https://www.andurilnews.com/news/2026/10/us-army-awards-anduril-contract-worth-up-to-1-8-billion-for-ngc2/)
8. [Yahoo Finance, "Goldman Sachs sees 18% upside for Palantir on sovereign AI growth", 8 October 2026](https://finance.yahoo.com/technology/ai/articles/goldman-sachs-sees-18-upside-120046352.html)
9. [Palantir Investor Relations, Q3 earnings calendar, retrieved 17 October 2026](https://investors.palantir.com/)


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Europe Is Firing Palantir Over a Book Worth Ten Weeks of Revenue — The Inference. Canonical: https://theinference.org/article/europe-is-firing-palantir-over-a-book-worth-ten-weeks-of-revenue