Amended S-1: Q3 revenue nears $17 billion as growth cools and commitments hit $895 billion
Revenue rose 47% from Q2, but $5 billion in short-notice compute pushed Anthropic to a small operating loss.
Anthropic filed an amended S-1 on Monday that adds results for the quarter ended September 30. Revenue was $16.96 billion, up from $11.56 billion in the second quarter and $1.4 billion a year earlier. That is 47% sequential growth, down from 144% in Q2, Reuters reports. Nine-month revenue was $33.2 billion, about 13 times the same period last year. The figures line up with the roughly $16.8 billion Anthropic gave prospective investors in mid-October.
The net loss shrank to $23.3 billion from $66.3 billion in Q2. Most of it is a non-cash charge tied to convertible financing whose value rises with Anthropic's valuation. The nine-month net loss was about $104 billion, including a $94 billion accounting charge, AP reports. More telling, Anthropic posted an operating loss of $567 million after Q2's $974 million operating profit. The company attributes the swing mainly to about $5 billion paid for short-notice compute capacity, which caused revenue per dollar of compute to fall for the first time.
Total purchase and lease commitments, mostly for compute and infrastructure, are now about $895.4 billion, up from the roughly $637 billion in compute contracts described last week. About $70 billion is due in the next 12 months, and roughly $447.5 billion before the end of 2030. The filing also counts more than 11,900 customers paying at least $100,000 a year. It still does not include a price range, share count or deal size.
- Q3 revenue
- $16.96B (+47% QoQ)
- Q3 operating result
- −$567M (Q2: +$974M)
- Q3 net loss
- $23.3B (Q2: $66.3B)
- Total commitments
- ~$895.4B (~$70B next 12 mo.)