{
  "company": "Anthropic, PBC",
  "form": "S-1",
  "filed": "2026-10-26",
  "reviewed": "2026-10-26",
  "accession": "0001628280-26-067168",
  "source": "https://www.sec.gov/Archives/edgar/data/2130357/000162828026067168/anthropicpbc-sx1.htm",
  "status": "Preliminary prospectus; offering terms incomplete",
  "proposed_exchange": "Nasdaq Global Select Market",
  "proposed_ticker": "ANT",
  "ipo_price": null,
  "ipo_date": null,
  "latest_run_rate_revenue": null,
  "aggregate_compute_commitments": null,
  "units": "USD millions unless explicitly stated otherwise",
  "periods": [
    "FY2024",
    "FY2025",
    "H1 2025 (unaudited)",
    "H1 2026 (unaudited)"
  ],
  "financials": [
    {
      "label": "Revenue",
      "values": [
        386,
        4585,
        1163,
        16286
      ],
      "source_pages": "147–148"
    },
    {
      "label": "Compute and infrastructure expense",
      "values": [
        2522,
        7326,
        2334,
        8945
      ],
      "source_pages": "147–148"
    },
    {
      "label": "Operating income / (loss), GAAP",
      "values": [
        -2980,
        -8060,
        -2135,
        -693
      ],
      "source_pages": "147–148"
    },
    {
      "label": "Net income / (loss), GAAP",
      "values": [
        -8309,
        -41965,
        -12969,
        -80748
      ],
      "source_pages": "147–148"
    },
    {
      "label": "Adjusted operating income / (loss), non-GAAP",
      "values": [
        -2788,
        -4854,
        -1849,
        1618
      ],
      "source_pages": "156–157"
    },
    {
      "label": "Net cash from / (used in) operating activities",
      "values": [
        -5692,
        -2637,
        -1513,
        3929
      ],
      "source_pages": "168–170"
    }
  ],
  "h1_2026": {
    "convertible_and_derivative_fair_value_expense": 72388,
    "other_mark_to_market_adjustment": 8720,
    "stock_based_compensation": 2185,
    "noncash_charitable_contributions": 126,
    "adjusted_net_income": 2671,
    "investing_cash_flow": -17181,
    "financing_cash_flow": 110774,
    "cost_of_revenue": 2380,
    "research_and_development": 9741,
    "sales_and_marketing": 3808,
    "cash_and_equivalents_rounded": 112400,
    "short_term_investments_rounded": 19300,
    "csp_marketplace_revenue_percent": 48
  },
  "quarterly": {
    "periods": [
      "Q1 2025",
      "Q2 2025",
      "Q3 2025",
      "Q4 2025",
      "Q1 2026",
      "Q2 2026"
    ],
    "revenue": [
      376,
      787,
      1382,
      2040,
      4731,
      11555
    ],
    "operating_income": [
      -935,
      -1200,
      -3089,
      -2836,
      -1667,
      974
    ],
    "source_pages": "158–159"
  },
  "commitments": [
    {
      "amount": 265600,
      "unit": "USD millions",
      "scope": "Future fixed or minimum guaranteed purchase commitments as of June 30, 2026; not an all-in lease-plus-purchase total",
      "source_pages": "F-59"
    },
    {
      "amount": 417000,
      "unit": "USD millions",
      "scope": "Aggregate future minimum payments under new and amended lease and commercial agreements entered into subsequent to December 31, 2025; overlaps other disclosures",
      "source_pages": "F-64"
    },
    {
      "range": [
        125000,
        150000
      ],
      "unit": "USD millions",
      "scope": "Estimated future payments for expanded commercial agreements with capacity delivery in 2028–2031; some commercial terms not finalized",
      "source_pages": "F-64"
    }
  ],
  "customer_metrics": {
    "as_of": "2026-09-30",
    "customers_over_100k_ttm": ">11,900",
    "customers_over_1m_ttm": ">1,900",
    "customers_over_10m_ttm": "approximately 250",
    "net_revenue_retention_percent_approx": 900,
    "top_five_share_q1_percent_derived": 36,
    "top_five_share_q3_percent_derived": 21,
    "source_pages": "2–3, 134–135, 142–144"
  },
  "method": "Manual extraction from the supplied initial SEC S-1. Values in parentheses are negative. Interim financial statements are unaudited. Null means the reviewed initial filing does not supply a finalized value, not zero. Commitment disclosures overlap and must not be added together. Calculated growth rates and margins are Quant Data arithmetic, not company guidance. This is a dated analysis, not live IPO tracking."
}