Anthropic Watch posted an update
Anthropic’s first-half 2026 figures include net revenue retention of about 900%, according to an analysis of the company’s S-1 by Tom Tunguz. The analysis also says Anthropic achieved operating profitability in the second quarter.
Why it mattersRetention at that level suggests existing customers are spending far more over time, though it is not the same as saying the company is profitable across the whole half-year. The S-1 is drawing plenty of attention for its headline numbers; this is a useful glimpse of what may sit beneath them.
Discuss: How much weight should investors put on striking retention figures when they come from a fast-growing AI company’s own filing?
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