Anthropic Q2 revenue $11.5B, up 14x YoY, adjusted operating profit turns positive
Anthropic's preliminary Q2 revenue exceeded $11.5 billion, up 14x YoY from $787 million a year earlier, +143% QoQ. Adjusted operating profit turned positive for the first time, with the May annualized run rate above $47 billion.
Bloomberg reported on August 15 that Anthropic is disclosing to potential investors its preliminary Q2 2026 revenue exceeded $11.5 billion, up more than 14x YoY from $787 million a year earlier, +143% QoQ from $4.73 billion in Q1. Adjusted operating profit turned positive for the first time.
The revenue growth is primarily driven by enterprise customers adopting Claude for professional workloads including coding. Anthropic's competition with OpenAI for enterprise customers has largely crystallized. The May annualized revenue run rate has surpassed $47 billion, compared with OpenAI's figure above $40 billion (the two definitions may not be strictly comparable).
The financial data came out as Anthropic races toward an IPO. The company has confidentially filed for listing and is working with Morgan Stanley, Goldman Sachs, and JPMorgan. It plans to go public at a valuation close to $1 trillion in late September or early October, with a forward revenue forecast of $190-200 billion by 2028. IPO target valuation rumors reach $2 trillion or even $3 trillion.