Last Tuesday I told you the public filing was weeks away.

It landed Monday.

Anthropic wants to list on Nasdaq as ANT.

The numbers are now filed, not leaked.

Here’s what happened.

Revenue for the first half of 2026 was $16.3 billion, 14 times the same period last year.

The second quarter alone, $11.6 billion, was more than all of 2025.

The business made an operating profit of $974 million in Q2, its first in the six quarters the filing shows.

Then there’s the $80.7 billion net loss.

About $72 billion of it is an accounting charge: convertible notes that got more expensive because Anthropic itself got more valuable.

Cash from operations was positive $3.9 billion.

Translation: the company that lost $80 billion on paper also generated cash. 🤯

Now the line that’s about you.

About 80% of revenue is usage, paid by the token.

Subscriptions, the Pro and Max plans most of this list is on, are the other 20%.

Think about that.

You’re not the customer Anthropic built the filing around.

The API meter is.

Businesses paying $100,000 or more a year went from 950 to 11,900 in twelve months.

250 of them pay $10 million or more.

Here’s the part that explains your pricing.

Anthropic has signed fixed compute bills of at least $114.5 billion to Google, $110 billion to Amazon and $44.9 billion to Microsoft, due whatever it uses.

Add $161 billion in Broadcom equipment leases.

Add up to $120.5 billion to SpaceX, about $3.1 billion a month once the chips land.

The same three cloud giants also own big stakes and resell Claude.

Those marketplaces brought in 48% of first-half revenue.

Owner, supplier and sales channel, all three at once. 👀

Two more lines worth sitting with.

The filing says the growth rate will likely decline over time.

And it warns that after a catastrophic AI incident, the insurance industry as a whole may not have enough capacity to cover it.

Sit with that.

Let me explain what this means for your bill.

If 80% of Anthropic’s revenue is tokens, every heavy model you run on an easy task is their margin and your waste.

So I put together a free guide to picking the right Claude model for each job: Sonnet for the easy stuff, Opus where it matters, Fable where nothing else will do.

It comes with 14 copy-and-paste prompts.

👉 Get the Claude Model Decision Guide (free)

Read the filing if you like.

Read the guide if you’d rather stop paying for it. 😅

Home furniture brand Blu Dot blew up on CTV with help from Roku Ads Manager. Here’s how:

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The results speak for themselves. As Blu Dot increased their investment by 10x, ROAS jumped to 2,308% and more page-view conversions surpassed 50,000.

“For CTV campaigns, Roku has been a top performer,” said Claire Folkestad, Paid Media Strategist, Blu Dot. “Comping to our other platforms, we have seen really strong ROAS… and highly efficient CPMs, lower than any other CTV partner we've worked with.”

Using Roku Ads Manager, the campaign moved from a pilot to a permanent performance engine for the brand.

Learn More