Anthropic added third-quarter results to its IPO prospectus in a Nov. 2 amendment. The initial filing had included financial results only through the first half of the year, CNBC reported.
Revenue for the three months ended Sept. 30 reached nearly $17 billion, up from $11.6 billion in the second quarter and $1.4 billion a year earlier, Fortune's Beatrice Nolan reported. Growth from the previous quarter slowed to about 47%, from about 144% in the second quarter. The roughly twelvefold increase compares the third quarter with the same period last year, not with the preceding quarter.
Operating expenses rose to $17.5 billion from $10.6 billion in the second quarter. Anthropic posted a $567 million operating loss after a $974 million operating profit in the prior quarter, Nolan reported. The Information's Valida Pau reported that Anthropic cited $5 billion in short-term computing costs and $2 billion in employee donation-matching charges as contributors to the loss. Fortune described the donation-matching charges as noncash and said short-term computing capacity costs significantly more than capacity secured under multiyear deals.
Anthropic still reported $2.5 billion in adjusted operating income, a measure that excludes stock-based compensation and other costs, Pau reported. Its adjusted operating margin fell to 15% from 19%, according to Fortune.
The company's much larger third-quarter net loss was $23.29 billion, CNBC reported. CNBC said most of that loss reflected changes in the fair value of convertible notes and derivative liabilities. CoinDesk's James Van Straten reported a $21.9 billion quarterly accounting charge from revaluing convertible notes and related instruments.
