Anthropic reported preliminary Q2 2026 revenue exceeding $11.5 billion, surpassing its internal forecast of $10.9 billion. The company achieved its first quarter of positive adjusted operating income at $559 million.
The company's revenue grew from $787 million in Q2 2025 to $11.5 billion in Q2 2026. Sequentially, revenue increased from $4.73 billion in Q1 2026 to the current level.
Operational efficiency improved as the cost of running models dropped from 71 cents to 56 cents per dollar of revenue. Anthropic maintains multi-year compute agreements with Amazon and Google.
Anthropic's quarterly revenue of $11.5 billion exceeds the $6.7 billion reported by OpenAI for the same period. The company attributes this to a focus on enterprise contracts for coding and agentic workflows.
The company is considering a potential IPO as early as October 2026, with private market valuations reaching into the hundreds of billions of dollars. Amazon holds an equity stake in the business.
