Regular investors will be able to ask for Anthropic shares at the IPO price through the brokerage apps many of them already use. An amended IPO filing the Claude maker sent to the SEC on Monday says part of the offering will be sold to individual investors via Charles Schwab, Fidelity, Robinhood, SoFi, E*TRADE from Morgan Stanley and Trade-PMR. The first version of the filing, from Oct. 26, did not name any of them.
The amendment also adds the company's July-to-September results. Revenue for the quarter was $17.0 billion, and the company swung back to an operating loss after a profitable spring.
There is still no price. The cover page leaves the expected range and the number of shares blank, so nobody can yet say what a share will cost or what the company will be worth at the offering. Anthropic has applied to list its Class A stock on the Nasdaq under the symbol ANT.
How buying through an app would work
The six brokers join the offering's selling group, and any shares bought through them come at the same IPO price set on the prospectus cover. The filing says each purchase is subject to that platform's own terms, conditions and requirements, so the rules for who can take part will differ from one app to the next. These retail sales come on top of whatever the underwriters themselves allocate to individual investors.
The brokers are not affiliated with Anthropic. E*TRADE is part of Morgan Stanley, one of the underwriters' representatives.
The offering also reaches buyers abroad. The filing lists public offerings in Australia, Canada, certain European Economic Area countries, Japan, Switzerland and the United Kingdom, though Anthropic does not plan to list the stock on any exchange outside the U.S.
Revenue, operating loss and the accounting charge
Through the first nine months of 2026, revenue reached $33.2 billion, up from $2.5 billion a year earlier. The single quarter ended Sept. 30 brought in $17.0 billion, compared with $197 million in the last three months of 2024. In its risk factors, Anthropic says it expects that growth rate to slow and "cannot assure you that it will continue to grow at all."
The operating loss for the third quarter was $567 million, after operating income of $974 million in the second quarter. The company puts it down to $5.0 billion spent on compute bought under short-term commitments, which costs much more than compute under its multi-year contracts, and $2.0 billion in non-cash charges tied to its donation matching program.
The net loss for the nine months was much larger, $104.0 billion. Most of it, $94.3 billion, is an accounting charge for changes in the fair value of convertible notes, SAFEs and related instruments, which rose as the company's valuation climbed. No cash changed hands, and the cash flow statement adds the full amount back. Anthropic reported $95.6 billion in cash and cash equivalents plus $36.3 billion in short-term investments at the end of September.
Who the customers are
More than 11,900 customers paid Anthropic at least $100,000 over the 12 months through September, and they produced 74% of its revenue. The other 26% came from about 40 million smaller customers. The company had about 5,300 employees at the end of the quarter, up from roughly 940 at the end of 2024.
Class A shares, the kind sold in the IPO, carry one vote each. Control is split across several other share classes, an arrangement Edit USA explained when the first filing went public.
