Anthropic Reports $17 Billion Quarterly Revenue
Anthropic's quarterly revenue rose to $16.96 billion, up 47% from the second quarter, with a net revenue retention rate of about 900%. The company's growth is driven by its expanding customer base and increasing demand for its services.
Original reporting · saastr.com
Original: “5 Interesting Learnings from Anthropic at $17 Billion in Quarterly Revenue: $5.4B Added vs. $6.8B the Quarter Before, 900% NRR, and $895 Billion in Compute Commitments”
Read “5 Interesting Learnings from Anthropic at $17 Billion in Quarterly Revenue: $5.4B Added…” at SaaStr →
How this was written. Awesome B2B Growth wrote this article with a language model from SaaStr’s reporting (model: @cf/meta/llama-3.3-70b-instruct-fp8-fast); it describes that reporting rather than adding to it. The original, linked above, is the full story.
Key points from SaaStr’s report
- Anthropic's quarterly revenue rose to $16.96 billion, up 47% from the second quarter.
- The company's net revenue retention rate is about 900%, driven by usage expansion and the adoption of its second product.
- Anthropic has entered into purchase commitments and lease agreements with an aggregate committed spend of about $895 billion.
- The company's cost side has increased, driven by higher cost short-term compute and noncash charges.
- About $600 million of Q3 revenue went to price cuts, tied to new model versions and contractual discounts.
Anthropic filed its amended S-1 with audited Q3 numbers, showing revenue growth of 1,127% from $1.38 billion a year earlier. The company's customer base has expanded significantly, with over 11,900 customers paying $100,000 or more per year, up from 950 a year ago.
Q3 revenue added $5.4 billion, less than the $6.8 billion added in Q2, marking the first decline in dollar adds. Despite this, the company's scale remains unmatched, with the Q3 increase alone close to Snowflake's full-year revenue guide.
Anthropic's cost side has increased, driven by $5 billion in higher cost short-term compute and a $2 billion noncash charge from its employee donation matching program. Compute and infrastructure expenses jumped 78% sequentially to $9.86 billion, while revenue grew 47%.
The company has entered into purchase commitments and lease agreements with an aggregate committed spend of about $895 billion, substantially all of which is related to compute and infrastructure. This commitment is about 13 times annualized revenue, and is Anthropic's bet against repeating the $5 billion short-term compute bill in Q3.
Anthropic's net revenue retention rate is about 900%, driven by usage expansion and the adoption of its second product, Claude Code. The company's customers are also using its first-party apps, such as Claude Code or Cowork, with over half of customers spending at least $100,000 annually using both the Claude platform and a first-party app.
About $600 million of Q3 revenue went to price cuts, which the company ties to new model versions and contractual discounts. This is about 3.5% of the quarter's revenue, and is part of the company's bet that volume will grow faster than its price per task falls. This article is based on reporting by SaaStr.
Questions and answers
What is Anthropic's quarterly revenue?
Anthropic's quarterly revenue is $16.96 billion, up 47% from the second quarter.
What is Anthropic's net revenue retention rate?
Anthropic's net revenue retention rate is about 900%, driven by usage expansion and the adoption of its second product.
What is the aggregate committed spend of Anthropic's purchase commitments and lease agreements?
The aggregate committed spend is about $895 billion, substantially all of which is related to compute and infrastructure.
