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The documentS–1Anthropic, PBC26 OCT 2026 · 421 PP.
01The original SEC filingThe authoritative source, in your browser.SEC · HTML 02Download the saved filingThe complete 421-page document, optimized for downloading.PDF · 46 MB 03Download the full researchFindings, customer examples, calculations, and source references.Markdown

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[Embedded graphic 1 — OCR text]
(4 shopify

Customer since 2024

Embedding intelligence for millions
of merchants with Claude

Results

HTH Merchants served by Al
Millions 7
3x YoY increase in daily active

merchants using Sidekick (2026)

Employees using Claude Code
company-wide

7,500+

Background

Shopify powers commerce for millions of businesses
worldwide, from first-time entrepreneurs to enterprise
brands. The platform makes it simple for anyone to start,
run, and grow a business through online stores, brick-and-
mortar locations, and everything in between.

Impact

Shopify built Sidekick, its AI commerce assistant, to make
it easier for merchants of all sizes to get more done faster.
One of the models the company uses to power Sidekick is
Claude, thanks to its reliability and ability to reason through
complex merchant problems in a fraction of a second.
Sidekick brings that intelligence to millions of merchants,
helping them analyze their business, plan promotions, and
act on answers that once required an analyst. This helps
new merchants reach their first sale in days instead of
weeks. Merchants are leaning in: daily active merchants
using Sidekick more than tripled year over year, and nearly
half of all Shopify Flow automations created in the quarter
were built with Sidekick. Sidekick’s capabilities have grown
with each version of Claude, from Sonnet 3.5 through
Anthropic’s latest versions of Sonnet.

Claude has also changed how the team at Shopify builds.
Claude Code is available company-wide across more than
7,500 employees. Reaching for Claude has become a reflex
across the company: engineers and non-engineers alike

“Agents now work alongside people
on real problems, turning anyone
with an idea into a builder. Anthropic
is an important part of how we work
at Shopify, and how we build for the
millions of merchants we serve.”

Tobi Litke, Chief Executive Officer at Shopify

build sophisticated internal tools in minutes that used to
take days. “Everyone is way more efficient just from using
these models, not just in terms of coding but also content
creation, email writing, and countless other use cases,”
said Andrew McNamara, Vice-President of Applied ML
at Shopify.

Shopify is also an early access partner for Anthropic’s
frontier models, including Claude Fable 5. Shopify evaluates
these models in its internal test environments and helps
shape how they evolve before they ship.

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  1. Founders’ letterp. 3SEC
  2. Defined termsp. 12SEC
  3. Prospectus summaryp. 16SEC
  4. Risk factorsp. 38SEC
  5. Management’s discussion & analysisp. 144SEC
  6. Businessp. 190SEC
  7. Governancep. 254SEC
  8. Executive compensationp. 275SEC
  9. Related-person transactionsp. 293SEC
  10. Principal & selling stockholdersp. 299SEC
  11. Capital-stock rightsp. 303SEC
  12. Shares eligible for future salep. 318SEC
  13. Underwritingp. 327SEC
  14. Auditor change & expertsp. 345SEC
  15. Financial statements & notesp. 347SEC
  16. Part II & exhibit indexp. 413SEC

How this was made

Read in full.
Kept in context.

A snapshot of the filing dated , rather than a live record of later events.

3primary reviewers
421pages reviewed
43image instances checked

The review

Three primary reviewers read non-overlapping ranges of the complete main filing. All 43 embedded image instances were transcribed and visually reviewed, including the founders’ letter, charts, and customer case studies. Financial tables were also checked visually for dates, units, and column alignment.

A separate reviewer checked the draft’s calculations, accounting interpretations, and customer qualifications. An additional check covered the later merged findings. The result is 62 findings and 21 customer examples.

The boundary

Companion contracts and other exhibits named in the filing’s index are separate documents and were not independently reviewed. Customer outcomes, technical benchmarks, forecasts, and scientific priority claims remain attributed company or customer disclosures.

The numbers

Dollar figures are U.S. dollars. H1 means the six months ended June 30; Q2 means the three months ended June 30. The 2026 interim financial statements are unaudited. Our calculations show their inputs and are labeled separately from reported values.

Blank fields stay undisclosed. Figures with different periods, conditions, or potentially overlapping scopes are kept separate. An earlier tender price is not an IPO price.

What the evidence labels mean
Reported in filing
A company disclosure, with the period and accounting basis retained.
Company estimate / company claim
An estimate or assertion attributed to the company, with its uncertainty preserved.
Our calculation
A derived figure using cited inputs. It is not a separately reported company metric.
Customer example
A selected case study, with its measurement limits. It is not representative ROI.
Proposed / conditional
A status qualifier for an arrangement that is not yet effective or depends on stated conditions.

About updates. This edition is tied to the October 26, 2026 filing. Any later revision should identify its new source date and preserve the basis of earlier claims.

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A closer look at the filing

Anthropic · Form S-1PDF 1

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Filed October 26, 2026. PDF is approximately 46 MB and opens only when requested. Section links may precede the exact cited paragraph.