Anthropic's amended IPO filing shows $17 billion quarter, an operating loss and $895 billion in commitments

A week after making its IPO prospectus public, Anthropic filed an amended S-1 with the US Securities and Exchange Commission on Monday, November 2. The update adds results for the third quarter of 2026 and a much fuller account of the company's long-term spending obligations.

Third-quarter numbers

According to Reuters and Fortune, revenue for the three months to September 30 reached about $16.96 billion, compared with $11.56 billion in the second quarter and roughly $1.4 billion a year earlier. Sequential growth slowed to around 47%, Fortune notes, after about 144% in the previous quarter.

Costs rose faster. Operating expenses climbed to roughly $17.5 billion, leaving an operating loss of $567 million after an operating profit of $974 million in the second quarter. Fortune reports that the filing attributes the loss mainly to short-term compute, which costs considerably more than capacity bought under multi-year contracts, along with about $2 billion in non-cash charges linked to an employee donation-matching programme. On an adjusted basis the company says it remained profitable, with the margin falling from 19% to 15%. The net loss narrowed to $23.3 billion, largely an accounting charge tied to the rising value of convertible notes. Revenue for the first nine months of the year was about $33.2 billion, according to Unite.AI and HuggingNews.

Close to $900 billion in commitments

The most striking new figure is about $895.4 billion in purchase commitments and lease agreements, which the filing describes as almost entirely for compute and infrastructure. Reuters links these to partners including Amazon and Google. As summarised by Unite.AI, about $69.8 billion falls due within twelve months of September 30 and around $447.5 billion before the end of 2030, with much of the rest stretching to 2045; roughly $213.8 billion is subject to termination rights or contingent conditions. The minimum commitment to Google is put at about $121.3 billion. The original filing had cited more than $430 billion in committed cloud contracts.

Japanese tranche and open questions

In a separate filing disclosed the same day, Reuters reports that Anthropic plans to sell up to 552.9 billion yen, about $3.5 billion, of new shares to Japanese investors, with proceeds earmarked for working capital, operating costs and capital expenditure. Share count, price range and listing date have still not been disclosed. The figures above come from media reports of the filing rather than from the SEC document itself.