Anthropic tells investors its quarterly revenue reached US$16.8 billion

Anthropic's revenue by quarter, 2026

First quarter: about US$4.8 billion
Second quarter: about US$11.5 billion
Third quarter: US$16.8 billion

Revenue more than doubled from the first quarter to the second, then grew about 45 per cent in the third, a slower pace.

Adjusted operating margin

11 %

The company said it was profitable on an adjusted basis, with positive free cash flow and an adjusted operating margin of 11 per cent; how it defines profit is not clear.

“They're still growing, but not growing as fast,” said Harrison Rolfes, a private-company analyst at PitchBook.

— Harrison Rolfes, PitchBook analyst

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Anthropic is expected to go public in November at a valuation that could approach US$2 trillion, which would be the largest ever at a listing.

Tech · 19 d ago

Anthropic tells investors its quarterly revenue reached US$16.8 billion

Revenue more than doubled from the first quarter to the second, then grew about 45 per cent in the third, a slower pace.

The company said it was profitable on an adjusted basis, with positive free cash flow and an adjusted operating margin of 11 per cent; how it defines profit is not clear.

“They're still growing, but not growing as fast,” said Harrison Rolfes, a private-company analyst at PitchBook.

Anthropic is expected to go public in November at a valuation that could approach US$2 trillion, which would be the largest ever at a listing.

Anthropic tells investors its quarterly revenue reached US$16.8 billion

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