Anthropic has been profitable for the past two quarters.

"Anthropic told investors that it will profit on a measure called adjusted operating income.

"According to the report, adjusted operating income excludes stock-based compensation, which is not unusual for technology companies. However, the report also quotes its gross margins - above 80% - exclude revenue shared with distribution partners, as well as the cost of training its models."

From https://www.morningstar.com/news/marketwatch/2026091414/the-...

How so? Can you link to the numbers?

Antropic's revenue is up [1], [2], [3] and if you calculate adjusted operating income (by excluding most expenses like training costs) then by that measure it is profitable. However, if you factor in all the numbers it is operating at a loss.

[1] https://finance.yahoo.com/technology/ai/articles/anthropic-v...

[2] https://fortune.com/2026/09/29/anthropic-leaked-ipo-prospect...

[3] https://www.cnbc.com/2026/10/15/anthropics-third-quarter-rev...

That's factually incorrect, and shouldn't be allowed here.

Source? Only reports I’ve seen was they were profitable for one month in last quarter due to xAI discount of renting out colossus . Be interested to learn otherwise.

Profitable as in after expenses.

https://youtu.be/T-oXyXwD6sE?si=tauzXVyGmQ6MhI_5

We're talking about being actually profitable, not fake profitable.

“I think that, every time you see the word EBITDA, you should substitute the words "bullshit earnings.” ― Charles T. Munger

And what they're reporting is adjusted even further than EBITDA

Yes when you subtract expenses and capex