Anthropic's Q3 revenue hits $16.8B but growth slows ahead of planned November IPO
Anthropic says Q3 revenue reached $16.8 billion as growth slowed before its planned November IPO.
Anthropic told potential investors that third-quarter revenue reached $16.8 billion, roughly 45% above the prior quarter and more than 3.6 times its 2025 annual revenue, after second-quarter growth exceeded 140%. It reported an 11% adjusted operating margin through Q3 and $1.70 of revenue for every compute dollar. Anthropic estimates 5–7% of revenue comes from distillation and expects new countermeasures to reduce it. Reports say its planned November IPO may see expectations cut below $1.5 trillion from a $965 billion private valuation.
- Q3 revenue was $16.8 billion, up roughly 45% from Q2.
- Adjusted margin was 11%; inference returned $1.70 per compute dollar.
- Distillation is estimated at 5–7% of revenue.
- Some investors expect IPO pricing below $1.5 trillion.
- Vendors
- Anthropic
- Products
- ClaudeClaude Code
- AI models
- ClaudeClaude CodeOpus 5.5Astra
From the original article
3 min read at the-decoder.com
Anthropic hit $16. 8 billion in third-quarter revenue, a 45 percent gain that still falls far short of Q2's 140 percent surge. With a November IPO approaching, some investors now expect the company's valuation to drop below $1.
By Matthias Bastian · the-decoder.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.