Anthropic's amended IPO filing shows Q3 revenue of $17.0B, up 1,127%, and a swing to a $567M operating loss
Anthropic (ANT) filed an amended IPO prospectus on Monday, showing third-quarter revenue of $17.0B, up 1,127% from a year earlier.
| Q3 2025 | Q3 2026 | Change | |
|---|---|---|---|
| Revenue | $1.38B | $16.96B | +1,127% |
| Compute and infrastructure costs | $2.05B | $9.86B | +382% |
| Operating income (loss) | -$3.09B | -$567M | Loss narrowed |
| Adjusted operating income (loss) | -$1.3B | $2.5B | Swung to a profit |
| Net loss | -$12.14B | -$23.29B | Loss widened |
- Revenue rose 47% from $11.6B in the second quarter.
- Anthropic swung to an operating loss of $567M in the third quarter, from operating income of $974M in the second. The company says the cause was $5.0B of compute bought under short-term commitments, which "currently costs significantly more" than compute under its multi-year contracts, and $2.0B of non-cash charges from its employee donation matching program.
- Adjusted operating income rose to $2.5B from $2.2B in the second quarter. The adjusted operating margin fell from 19% to 15%.
- The third-quarter net loss of $23.3B, down from $66.3B in the second quarter, came mostly from a $21.9B non-cash charge for the higher value of its convertible notes, derivatives and SAFEs (simple agreements for future equity).
- Anthropic had $95.6B of cash and $36.3B of short-term investments on September 30.
- The amended filing still leaves the price range and the number of shares blank.
- Anthropic plans to list its Class A shares on the Nasdaq Global Select Market under the ticker ANT.
Sources & Further Reading
- "Anthropic, PBC Amendment No. 1 to Form S-1 Registration Statement." Anthropic. November 2, 2026.
- "Anthropic, PBC Form S-1 Registration Statement." Anthropic. October 26, 2026.
This article was drafted with the help of AI. Kris Gunnars fact-checked, edited and published the article and is responsible for its accuracy and quality. How we use AI
