The S-1/A says that from the three months to 30 September 2025 to the three months to 31 December 2025, the increase in revenue due to higher usage was partially offset by a decrease of approximately $70 million from price reductions introduced as part of new model versions and contractual discounts.

The exact words it rests on

For the three months ended September 30, 2025 to the three months ended December 31, 2025, the increase in revenue due to higher usage was partially offset by a decrease of approximately $70 million from price reductions introduced as part of new model versions and contractual discounts.

What the source said when we opened it, on 3 Nov 2026.

The source

Anthropic, PBC Amendment No. 1 to Form S-1 (filed 2 Nov 2026)
U.S. SEC / Anthropic, PBC · 2026-11-02

Open the sourcearchived copy

Checked

Checked by the notis newsroom on 3 Nov 2026, against the source above.

In the story

Anthropic's amended S-1 reports a $567 million operating loss, blaming short-term compute 3 Nov 2026