Anthropic said in an amended IPO prospectus filed with the U.S. Securities and Exchange Commission that revenue for the third quarter of 2026 reached $16.956 billion, up 1,127% from $1.382 billion a year earlier. Net loss was about $23.291 billion, compared with roughly $12.138 billion in the same quarter last year.
Revenue, costs, and operating metrics
Financial data in the filing showed that compute and infrastructure expenses rose to $9.863 billion in the third quarter, up 382% year over year and equal to about 58% of revenue. Operating loss narrowed to $567 million from $3.089 billion a year earlier. Adjusted operating profit came in at $2.463 billion, and adjusted operating margin was 15%, versus negative 93% in the prior-year period.
What drove the net loss
The company said the quarterly net loss included about $21.936 billion in losses from fair value changes related to convertible notes, derivative liabilities, and SAFE instruments. It said the item was mainly tied to accounting remeasurement of financial instruments and did not represent a cash outflow of the same scale.
Customer base and liquidity
On the business side, as of Sept. 30, Anthropic had more than 11,900 customers that generated at least $100,000 in revenue over the previous 12 months. Of those, about 250 customers contributed at least $10 million in revenue.
As of Sept. 30, cash and short-term investments totaled about $131.9 billion. The company also disclosed total committed spending of about $895.4 billion under compute procurement, leasing, and related agreements signed by that date and afterward, with about $447.5 billion expected to be incurred by the end of 2030.
Google subscription option
Anthropic also disclosed that it granted Google an option to subscribe for up to $10 billion of Class N common stock. Google would be able to subscribe at the offering price at the time of the company's IPO.
