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Reuters reported that Anthropic informed attendees at an investor presentation in San Francisco that its third-quarter revenue climbed 45 percent to $16.8 billion from $11.6 billion in the second quarter. The company additionally stated it achieved profitability on an adjusted basis for the second quarter in a row. People who attended the session and later spoke with the news service expressed optimism regarding the pace of revenue expansion and the trajectory toward sustained profitability.
The figures follow first-quarter revenue of $4.7 billion according to a person familiar with the briefing who spoke to Business Insider. Successive quarterly increases have marked the company’s performance through 2026. An Anthropic spokesperson declined to comment on the numbers when contacted by the BBC.
Bloomberg News indicated that the company is producing positive free cash flow alongside an adjusted gross margin of 85 percent and an adjusted operating margin exceeding 11 percent. Anthropic further noted it generates $1.70 in revenue for each dollar expended on computing resources. The Financial Times cited SemiAnalysis in reporting that the latest quarterly performance annualises to roughly $74 billion in revenue while a person who attended the meeting told Reuters the company expects an annualised run rate of $110 billion by year end.
Reuters reported last month that Anthropic’s revenue for all of 2025 expanded twelvefold to nearly $4.6 billion even as the company recorded operating losses of more than $8 billion excluding certain writedowns. A September filing reviewed by Reuters showed the firm routed 47 percent of 2025 sales totaling $2.16 billion through cloud marketplaces operated by Amazon and Google. The company paid roughly $351 million in distribution fees to those platforms according to a Reuters analysis.
Multiple outlets including Reuters and Moneycontrol stated that Anthropic is seeking a valuation of more than $2 trillion for its initial public offering which would rank among the largest in history. The listing is anticipated after the November US midterm elections but no later than December according to earlier Reuters reporting. The debut would precede a planned public offering from rival OpenAI and serve as an initial gauge of market appetite for AI developers engaged in heavy infrastructure investment.
Attendees met with chief executive Dario Amodei and chief financial officer Krishna Rao during the Wednesday event. The presentation touched on product initiatives including thinking caps although specifics were not disclosed publicly. Several participants departed the headquarters expressing positive views on the company’s growth prospects and path forward.
