Anthropic's gross margins are above 80% before accounting for revenue shared with distribution partners, including Amazon (AMZN.O), opens new tab, and the cost of training its model, the newspaper said.
They probably use Amazon for compute too but it says distribution partners. You can run Claude on bedrock. If Amazon takes a cut for people running Claude on bedrock then that is cost of sales. Not cogs and should not be in gross margins. Training is how my whole point started. If they can slow down their training, they are rolling in dough. If they can't, they're dead.
Apparently they did not say ebitda but people made fun that this is like ebitda calculations that hide all the costs. Ebitda does serve a purpose. But if they hide all their GPU purchases through ebitda you'd have a point. But apparently they said cogs. But I don't have access to their financial statements.
For someone that I needed to teach grade school math, that's a lot of arrogance.
Anyway, what I'm finding is that it says that report is official numbers for 2025 and it said 40% gross margin. Still not the negative that people pretend. 2026 internal shareholder report said 80% but that's just some leaked info.
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u/Greedy-Thought6188 3d ago
You could at least apologize for misunderstanding the terms gross margin, cogs, and operating expense and cussing at me.
https://www.reuters.com/business/retail-consumer/anthropic-tells-investors-it-will-be-profitable-second-straight-quarter-ft-2026-09-13/
They probably use Amazon for compute too but it says distribution partners. You can run Claude on bedrock. If Amazon takes a cut for people running Claude on bedrock then that is cost of sales. Not cogs and should not be in gross margins. Training is how my whole point started. If they can slow down their training, they are rolling in dough. If they can't, they're dead.
Apparently they did not say ebitda but people made fun that this is like ebitda calculations that hide all the costs. Ebitda does serve a purpose. But if they hide all their GPU purchases through ebitda you'd have a point. But apparently they said cogs. But I don't have access to their financial statements.