Anthropic’s Amended IPO Filing Shows $33.24B Revenue and $104.04B Loss

Anthropic’s amended IPO prospectus lists $33.24 billion in revenue for the first nine months of 2026, alongside a $104.04 billion net loss driven largely by noncash valuation changes.

Revenue reached $17 billion in the third quarter, compared with about $16.3 billion across the first half. The nine-month total already exceeded the roughly $4.585 billion Anthropic recorded for all of 2025.

About $94.3 billion of the net loss came from fair-value changes in convertible notes and derivative liabilities. Those changes are accounting charges tied to updated valuations, not equivalent cash outlays. The company’s operating loss for the nine months was about $1.26 billion.

The filing also lists net revenue retention at roughly 900%, reflecting a rapid rise in spending by existing customers. Compute and infrastructure costs were about $18.8 billion, while personnel costs were about $4.86 billion.

Anthropic filed the revised S-1/A with the SEC on Monday, adding updated financial details as it pursues an initial public offering. The figures pair fast-growing sales with substantial operating expenses and accounting charges.