Anthropic, PBC filed an Issuer Free Writing Prospectus on November 10, 2026, pursuant to Rule 433, relating to its proposed initial public offering of Class A common stock, with the prospectus access link and IPO website screenshots attached as exhibits.

Key Highlights

  • Ticker and exchange: Class A common stock will trade on Nasdaq under the symbol "ANT," according to the filing.
  • Q3 2026 revenue: The filing discloses $17.0B in revenue as of September 30, 2026, reflecting more than 12x year-over-year growth.
  • Net loss: The filing reports a $23.3B net loss, which includes a $21.9 billion non-cash charge related to a change in the fair value of convertible notes, derivative liabilities, and SAFEs.
  • Adjusted Operating Margin: The filing states a 15% Adjusted Operating Margin and a (3)% Operating Margin for Q3 2026.
  • Customer count: More than 11,900 customers with at least $100K in trailing twelve-month revenue, representing more than 12x year-over-year growth, according to the filing.
  • Expected pricing date: The final IPO share price is expected to be set on November 18, 2026 (EST), with shares expected to begin publicly trading on November 19, 2026 (EST).
  • Underwriters: Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are listed as sources from which the preliminary prospectus may be obtained.

Anthropic's IPO Website and Q3 2026 Financial Highlights Detailed in Free Writing Prospectus

Anthropic, PBC filed a Free Writing Prospectus dated November 10, 2026, pursuant to Rule 433 and relating to a Preliminary Prospectus of the same date, under Registration File No. 333-299633. The filing states that on November 10, 2026, Anthropic also filed Amendment No. 2 to its Registration Statement on Form S-1 with the SEC. The free writing prospectus includes, as Exhibit A, screenshots of a standalone IPO website launched on that date, along with an IPO factsheet (Exhibit B) and a founders' letter (Exhibit C).

According to the financial highlights reproduced in the filing from the IPO website, Anthropic reported $17.0B in revenue for Q3 2026, with more than 12x year-over-year growth. The company disclosed a $23.3B net loss, attributing the figure primarily to "a $21.9 billion non-cash charge related to a change in the fair value of convertible notes, derivative liabilities, and SAFEs." The filing also states a compute efficiency gain of more than 4x since Q1 2025, measured as revenue divided by compute and infrastructure expenses in Q3 2026 relative to the same ratio in Q1 2025. The 15% Adjusted Operating Margin is described as a non-GAAP measure, with a reconciliation reference directed to the company's prospectus.

The IPO website FAQ, reproduced in the filing, states that Class A common stock will trade on Nasdaq under the ticker symbol "ANT." The roadshow is described as beginning November 10, 2026 (EST), with the final IPO price expected to be determined on November 18, 2026 (EST), subject to regulatory clearance, investor demand, and market conditions. The filing notes that "the registration statement has not yet become effective" and that "these securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective."

What Was Disclosed

Anthropic, PBC filed a Free Writing Prospectus on November 10, 2026, attaching IPO website screenshots, a factsheet, and a founders' letter. The filing disclosed Q3 2026 financial highlights, expected IPO timing, and the planned Nasdaq listing under ticker "ANT."