Anthropic reports Q3 operating loss in amended IPO filing

Anthropic filed an amended IPO prospectus with the SEC on Monday, 2 November 2026. The amendment adds results for the third quarter of 2026 to the initial S-1 filing, which disclosed a first-half net loss of $80.7 billion.

The company's revenue for the three months to 30 September was about $17 billion. That compares with $11.6 billion in the second quarter and $1.4 billion a year earlier. Revenue growth slowed to about 47%, down from about 144% in Q2.

Total operating expenses rose to $17.5 billion from $10.6 billion in Q2. The filing reports an operating loss of $567 million, against an operating profit of $974 million in the previous quarter.

The filing attributes the swing mainly to short-term compute. It says short-term compute "currently costs significantly more" than compute secured under multi-year deals. The company bought about $5.0 billion of compute on short-term commitments in the quarter.

Anthropic also recorded about $2 billion in non-cash charges tied to an employee donation-matching programme. Its adjusted operating margin fell to 15% from 19% in Q2. Adjusted profit, which excludes stock-based pay and the charitable charges, stayed positive and rose slightly from Q2. The filing gives no dollar figure for it.

Price cuts on new model versions and contractual discounts reduced revenue by about $600 million between Q2 and Q3. Compute and infrastructure charges reached about $9.9 billion in the quarter, roughly fourfold year on year. Committed spending totalled about $895.4 billion, mostly for compute and infrastructure. Liquidity stood at $146.6 billion at 30 September, including cash, short-term investments and an available credit line.

Fortune-derived coverage reports a Q3 net loss of about $23.3 billion, driven by an accounting charge linked to the rising value of the company's convertible notes. WireRead has not checked this figure against the SEC filing. The initial filing reported a planned Nasdaq listing under the ticker "ANT".

The amendment does not include October revenue, so investors cannot yet see whether growth picked up after the third quarter.