Anthropic's 57-slide IPO roadshow: $68B run-rate with S&M at just 14% of revenue
FinanceYF5 · x · 2026-11-11
Anthropic's 57-page IPO roadshow deck is public, including a long-term financial framework and S&M benchmarks. Q3'26 run-rate hit $68B with S&M at 14% of revenue (down from 22% in Q1, 18% in Q2), far below the 29% median of 78 public software companies with $10B+ revenue; long-term target is 7–10%. The deck also shows 127% YoY revenue growth, 58% CoGS, and a steady-state operating margin target of 35%+.
Related event: Anthropic's 57-Page IPO Roadshow Deck Reveals $68B Run-Rate(3 posts)→
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