Anthropic Reports $16.8 Billion Q3 Revenue, Adjusted Profit Ahead of Expected IPO

Anthropic has shown potential investors its third-quarter results: revenue reached $16.8 billion, and the company is said to be profitable on an adjusted basis for the first time. The information comes from a Financial Times report covered by SiliconANGLE, not from a public company filing.

What was disclosed

According to SiliconANGLE, the Financial Times reports that Anthropic's third-quarter revenue came to $16.8 billion. The figures were presented at a private meeting between Anthropic executives and potential investors.

According to earlier Wall Street Journal reports, Anthropic's first-quarter revenue was $4.8 billion, and it was later reported that second-quarter revenue rose to $11.6 billion, more than double. The third-quarter result is up about 45% from the second.

The FT also writes that Anthropic achieved profitability on an adjusted basis for the first time in the company's history.

What remains unclear

The caveats are significant. The FT's anonymous source did not say whether the figure refers to gross or net revenue, or how Anthropic defines profitability.

The company is private and does not have to disclose its spending, so investors can't see what this growth costs. The numbers don't come from a public filing, but from an anonymous FT source who described a closed-door meeting.

Market context

SiliconANGLE notes that Anthropic is reportedly set to list on the stock market in November, targeting a valuation of up to $2 trillion. In May, the company closed a $65 billion funding round at a $965 billion valuation.

Many investors treat Anthropic's results as a bellwether for the whole AI market. Last week, the FT lowered its estimate of OpenAI's annualized revenue run rate from about $68 billion to $50 billion, blaming a miscalculation in the earlier figures. The Nasdaq fell 1.25% at the time, and shares of Oracle, CoreWeave, Intel and Nvidia, among others, also dropped.

SiliconANGLE writes that Anthropic has overtaken OpenAI this year, helped by strong enterprise interest in its Claude Code tool. At the same time, open models are putting pressure on prices. Anthropic launched Claude Haiku 5.5, which the company says costs about 75% less than Haiku 4.5.

What it means for readers

For companies that use Claude, the results signal that the vendor's revenue is growing, but without public filings it is hard to judge its real condition. As long as the company stays private, it doesn't have to disclose how much it spends to grow revenue, and its definition of profitability remains unknown.