Anthropic told investors that the company posted an adjusted profit in the third quarter, with revenue growing 50%, according to the Financial Times.
During a Wednesday investor presentation in its San Francisco office, the Claude maker reportedly said it was profitable on an adjusted basis for the second quarter in a row, while revenue surged to $16.8 billion in Q3 from $11.5 billion.
However, this is slower than the growth Anthropic showed between the first and second quarters, when the company more than doubled its revenue.
Anthropic added that it was cash-flow positive and made $1.70 in revenue for every $1 spent on computing power in the third quarter, with operating margins of 11%, according to the report. Chips and data centers remained the company's biggest expense.
The privately shared details come amid investor anticipation of its potentially record-breaking initial public offering, with formal marketing set for November 2026 and a possible trading debut before Thanksgiving.
Anthropic said in June that it has confidentially filed for an IPO with the Securities and Exchange Commission. The company reportedly seeks to raise $100 billion at a valuation of around $2 trillion.
Later reports revealed that its prospectus warned investors about risks associated with training frontier AI models.
According to a Reuters report, Anthropic's prospectus warns that AI could pose "catastrophic or existential risks to humanity," particularly if advanced AI models exhibit "self-preserving behaviors." Such behaviors could include attempts to resist shutdown, conceal or manipulate information, or engage in conduct resembling blackmail. Anthropic devoted roughly 80 pages of the prospectus's 261-page main body to outlining risk factors, per the report.