Anthropic showed its investors a quarter in the black

This is an investor presentation. It is not an official statement.

On 14 October 2026, Anthropic held a closed-door presentation for investors at its San Francisco headquarters. The Financial Times, Reuters and Bloomberg each reported the figures given by CEO Dario Amodei and finance director Krishna Rao. According to those figures, the company took in $16.8 billion in revenue in the third quarter of 2026. That is not an annualised estimate. It is what the quarter itself brought in. Second-quarter revenue was around $11.6 billion, so the rise is roughly 45 percent. The company also says its cash flow went positive in the third quarter. Bloomberg puts gross margin at 85 percent and adjusted operating margin at above 11 percent.

Mind you, keep an eye on the word "adjusted". The company has not said what goes into that figure. According to one report, stock-based pay (shares handed to employees in place of cash) was left out of the calculation. Nor is it clear whether revenue is counted gross or net. Anthropic did not comment to Bloomberg, and it has put no announcement on its website. For a company that closed 2025 with about $4.6 billion in revenue and an operating loss of more than $8 billion, the picture is not bad at all. The IPO date and the company's valuation, on the other hand, are for now only what has leaked to the press. The definitions behind these numbers will become clear only in the prospectus filed with the SEC.