Anthropic’s growth slowed and costs jumped in the third quarter, updated IPO filing shows
Anthropic’s revenue kept climbing in the third quarter of 2026, but at a slower pace, according to an amended IPO prospectus for the company published on the U.S. Securities and Exchange Commission website Monday.
TL;DR
- Anthropic generated $17 billion in revenue in Q3 2026, up from $11.6 billion in Q2.
- Revenue growth slowed to approximately 47% in Q3, down from 144% in Q2.
- Operating expenses rose to $17.5 billion, resulting in a $567 million operating loss.
- The operating loss was attributed to expensive short-term compute and $2 billion in non-cash charges.
- The company has committed approximately $895.4 billion to long-term compute and infrastructure.
- Pricing pressure from competitors is influencing revenue, with approximately $600 million lost from price reductions.
- Liquidity stood at $146.6 billion as of September 30.