Anthropic reports US$16.8 billion Q3 revenue, says adjusted profit and eyes IPO

Anthropic told prospective investors that its third‑quarter revenue reached US$16.8 billion and that the company achieved adjusted profitability in the quarter, according to a presentation made at its San Francisco headquarters on Oct 14.

The figures were disclosed to people familiar with the matter as the artificial intelligence developer referenced in the presentation prepares to move toward a public listing.

Anthropic’s update was discussed with investors at a meeting in San Francisco, where attendees were told the company had reached adjusted profit in the period and presented revenue data for the third quarter.

Bloomberg News reported that Anthropic plans to begin formal marketing for an initial public offering as soon as the week of Nov 9, a step that the company’s presentation and investor outreach appear intended to support. Bloomberg also reported that Anthropic could begin trading before Thanksgiving and is expected to debut no later than the end of the year.

The Financial Times had reported some of the figures earlier on Oct 14, the presentation materials and people familiar with the meeting said.

Investors at a pre‑meeting discussion told attendees that some market participants see a potential fair valuation for Anthropic in the US$1.8 trillion to US$2 trillion range, according to the presentation and conversations described by people familiar with the event.

Bloomberg News reported that Anthropic expects to match or beat the size of SpaceX’s IPO, an ambition cited in media accounts of the company’s investor outreach. The presentation materials also referenced prior losses: Bloomberg News reported in August that Anthropic had a net loss of almost US$42 billion in 2025, a roughly fivefold increase from about US$8.3 billion in 2024.

Those earlier Bloomberg figures were included in media reporting around the Oct 14 investor meeting and provide context to the company’s statement that it achieved adjusted profitability in the latest quarter.

Anthropic’s disclosures to prospective investors and the reported timetable for IPO marketing signal the company is taking steps toward a public listing, with timing and valuation expectations circulating among attendees and in media accounts.

The company’s revenue, adjusted profit claim and the planned start of formal IPO marketing are the principal details disclosed in the San Francisco presentation and reported by Bloomberg News and The Financial Times on Oct 14.