Thread

1. simonw · 1790642845 · focus · HN ↗

   I'm confused.

   The numbers that Reuters describe in this article were entirely for 2025.

   It's been well documented that Anthropic's revenue growth in 2026 has been enormous. This was the year of coding agents, and tokenmaxxing, and companies blowing enormous amounts of money on AI thanks to coding agent users spending hundreds (or thousands) of dollars a day.

   Given that, I don't understand why the article and the headline are based exclusively on those 2025 numbers, with not so much as a hint to the reader that there are figures from the past 9 months that aren't covered by the documents Reuters saw.

   Losing $8bn in 2025 isn't particularly notable if you've made ~10x that amount of revenue in 2026.

   (How much did they lose in 2026? Wouldn't we love to know that!)

   Is this just a thing with leaked IPO prospectuses and coverage of them?

   1. Betelbuddy · 1790673381 · focus · HN ↗

      You know the losses increased even more massively or Anthropic itself would have leaked the number already...

      Most interesting: "Anthropic said nearly a quarter of its revenue came from two customers last year, and as part of its risk factors, warned that many of its largest clients were not locked into long-term contracts and could cut or stop spending."

      1. simonw · 1790687794 · focus · HN ↗

         But that was in 2025. It's not surprising to hear that in 2025 they had two customers responsible for a quarter of their revenue (those companies were Cursor and GitHub Copilot btw) - they hadn't yet sold Claude Code packages to vast numbers of large companies.

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