Anthropic S-1 reveals ~900% NDR, $11.6B Q2 revenue and first profitable quarter at $974M
vaibhavbetter · x · 2026-10-26
Stats from Anthropic's S-1 filing, compiled by Patrick O'Shaughnessy:
- NDR is 900%
- Revenue per employee tops $6.6M, up from $1.4M a year earlier
- Revenue grew from $41M three years ago to $16.3B in H1 2026
- Quarterly revenue jumped from $4.7B in Q1 to $11.6B in Q2
- Q2 2026 was the first profitable quarter: $974M operating income, vs. a $1.7B operating loss the prior quarter
- Adjusted operating income of $1.6B in H1 2026, vs. an $1.8B adjusted loss a year earlier
- Q2 revenue grew 1,368% YoY while compute and infrastructure costs grew only 300%
- Compute costs fell from 251% of revenue to 48% in five quarters
The headline: explosive growth paired with rapidly improving unit economics, and Anthropic has crossed into quarterly profitability.
Related event: Anthropic Files S-1 to Kick Off IPO Under Ticker ANT on Nasdaq(71 posts)→
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