Anthropic Tells Investors Q3 Revenue Hit $16.8B, Up 45%

Anthropic told prospective investors at its San Francisco headquarters on Wednesday that third-quarter revenue hit $16.8 billion, the Financial Times reported, citing an investor who attended the closed pre-IPO meeting.

That is up 45% sequentially from Q2's $11.6 billion and more than triple the $4.7 billion the company booked in Q1, SiliconANGLE wrote. Anthropic told the group it was "profitable on an adjusted basis in the third quarter" with positive free cash flow, and reports from the meeting pegged the quarterly adjusted gross margin at 85% and the adjusted operating profit margin above 11%.

The pitch sits against a valuation band of roughly $1.8 trillion to $2 trillion, about double the $965 billion post-money of the Series H round the company closed in May. Formal IPO marketing could begin the week of November 9, with the company targeting a trading debut before Thanksgiving.

One flat caveat on the FT's reporting: the anonymous source "didn't say if it refers to gross or net revenue, or how Anthropic defines profitability." Both answers wait for the S-1.

We have logged 339 prior Anthropic items over the last three months, and this is the first revenue print of this scale to leak from the room. The audited version arrives with the prospectus.