Anthropic: revenue twelve times higher and losses of 23 billion
A net loss of $23.3 billion, compared with $12.1 billion a year ago. But revenue is at a record high
In a couple of weeks’ time, it could stage the biggest IPO in Wall Street’s history. In the meantime, however, it is time for Anthropic to present its financial results. More specifically, those for the third quarter, which will also be its last as a private company. And the figures (which come from an update to the prospectus filed with the SEC in recent days) show that, as might be expected, we are looking at a company in a phase of hyper-growth whilst operating at a loss. This is a fairly typical scenario for a business model such as that of the San Francisco-based company.
Let’s look at them in detail. The company behind Claude ended the third quarter with revenue of nearly 17 billion dollars, which is twelve times that of the same period in 2025. Alongside this growth, however, come the costs – the costs required to support AI development. In the three months ending 30 September, Anthropic recorded a net loss of $23.3 billion, compared with $12.1 billion a year earlier. Operating expenses rose to $17.5 billion, an increase of 292 per cent. The operating result was a loss of 567 million (it should be noted, however, that in the second quarter, Anthropic had posted an operating profit of 974 million for the first time, following at least five quarters of losses).
When analysing the figures in depth, future commitments certainly deserve a mention. Anthropic has contractual obligations totalling $895 billion, almost all of which relate to computing power and infrastructure. A huge figure. Around $448 billion is expected to be paid out by the end of 2030, whilst some $70 billion is due within the twelve months leading up to September 2027.
We were talking about the IPO. The listing in New York is the most eagerly awaited event of the year for the US market – even more so than SpaceX’s listing. This is because Anthropic is the first AI development company to take this step, and there is a great deal of curiosity about how retail investors will react.
The application for listing was filed on 26 October. The debut is scheduled to take place before Thanksgiving on the Nasdaq Global Select Market, under the ticker symbol ANT. The likely week is that of 16 November, with Tuesday 17 appearing to be the most likely date.
