Anthropic's $16.8B quarter after a $42B loss
Anthropic told investors on the 14th of October 2026 that it made 16.8 billion dollars in three months. A leaked draft of its IPO prospectus shows the 2025 loss behind that growth.
Anthropic's numbers before its IPOAnthropic, the maker of Claude, made 16.8 billion dollars in revenue in the third quarter of 2026. The company told investors at a closed meeting, CNBC and the Financial Times reported on the 14th of October.
These numbers come from leaks. Anthropic has not published them, and it declined to comment on its prospectus to Reuters.
Revenue went from 4.7 to 11.6 to 16.8 billion dollars in 2026
Revenue was 4.7 billion dollars in the first quarter and 11.6 billion in the second, CNBC reported. Anthropic told investors it was profitable on an adjusted basis in the third quarter.
Adjusted means the company leaves some costs out of the count. No report says which ones.
The leaked prospectus shows a 42 billion dollar loss in 2025
Anthropic lost nearly 42 billion dollars in 2025, according to a draft IPO prospectus seen by Reuters on the 28th of September. Revenue that year was nearly 4.6 billion.
About 34 billion of the loss was an accounting charge, Reuters reported. It tracks the rising value of past funding that can turn into shares.
Below we break down what changed between 2025 and 2026
The third quarter alone brought 3.7 times the revenue of all of 2025, by our arithmetic. The first nine months of 2026 add up to 33.1 billion dollars.
In 2025 Anthropic spent 7.33 billion dollars on compute, Reuters reported. That is 63 cents of revenue per compute dollar, by our arithmetic.
In the third quarter it made 1.70 dollars per compute dollar, the Financial Times reported.
The company also owes 518 billion dollars in future cloud and computing deals. Its cash at the end of 2025 was 20.28 billion, Reuters reported.
What is confirmed and what is not
The Financial Times wrote that revenue rose nearly 50 percent. CNBC's figures give 45 percent, by our arithmetic.
Two customers brought in nearly a quarter of 2025 revenue, the prospectus says. They are not named.
Daily Agentic follows this story closely and will publish a full article when Anthropic files its public prospectus.
Key facts
Third quarter 2026 revenue: 16.8 billion dollars.
2025 net loss: nearly 42 billion dollars, 34 billion of it an accounting charge.
2025 revenue: nearly 4.6 billion dollars.
Cash at the end of 2025: 20.28 billion dollars.
The IPO is reported for November 2026.
Source: CNBC, citing people familiar with Anthropic's investor meeting