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Anthropic Reports $33.24 Billion Revenue but $104 Billion Net Loss in IPO Filing
Anthropic reports $33.24 billion revenue but $104 billion net loss in amended IPO filing.
Key points
- Anthropic generated roughly $17 billion in revenue in its third quarter, up about 1,127% from the same period last year.
- Purchase commitments and lease agreements carry an aggregate committed spend of about $895.4 billion, substantially all related to compute
- The amended S-1 includes more than 90 pages of risk factors, while OpenAI has signaled it is aiming for a 2027 debut.
Why it matters. The filing gives investors a fuller view of Anthropic's finances ahead of its potential IPO, showing heavy compute spending even as revenue growth slowed sharply in the third quarter.
Anthropic said in an amended Form S-1 filing with the SEC on Monday that it generated $33.24 billion in revenue for the nine months ended Sept. 30, up roughly 1,200% from a year earlier. Most of its $104 billion loss came from changes in the fair value of convertible notes and derivative liabilities, and it lost $25.1 billion over the same period in 2025. Third-quarter revenue growth slowed to around 47%, down from 144% in the second quarter, as the company prepares its roadshow.
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Anthropic Reports $33.24 Billion Revenue but $104 Billion Net Loss in IPO Filing
Anthropic released updated financials in an amended Form S-1 filing with the Securities and Exchange Commission on Monday. The artificial intelligence company said it generated $33.24 billion in revenue for the nine months ended September 30, up roughly 1,200% from the same period a year earlier. It reported a $104 billion net loss over the same period. Most of that loss stemmed from changes in the fair value of convertible instruments, according to the filing. The disclosure gives investors a fuller view of the business ahead of its planned public listing.