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Table of Contents

Anthropic, PBC
Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders’ Deficit
(In millions, except share amounts which are in thousands)

Redeemable convertible
preferred stock 

Class A
common stock

Class N
common stock

Class T
common stock

Shares

Amount

Shares

Amount

Shares

Amount

Shares

Amount

Additional
paid-in
capital

Accumulated
other
comprehensive
income

Accumulated
deficit

Total
stockholders’
deficit

Balance as of December 31, 2024

220,219 $

2,874

1,779,060 $

Issuance of redeemable 
convertible preferred stock, net 
of issuance costs (unaudited)

Conversion of convertible notes 
into redeemable convertible 
preferred stock (unaudited)

Issuance of Class A common 
stock upon exercise of stock 
options and grants of restricted 
stock (unaudited)

Repurchase of outstanding 
common stock (unaudited)

Stock-based compensation 
expense (unaudited)

Foreign currency translation 
adjustments (unaudited)

Net loss (unaudited)

Balance as of June 30, 2025 
(unaudited)

63,610

3,549

147,533

8,168

—

—

—

—

—

—

—

—

—

—

—

—

83,704

(27,942)

—

—

—

431,362 $

14,591

1,834,822 $

—

—

—

—

—

—

—

—

—

— $

—

—

—

—

—

—

—

— $

—

—

—

—

—

—

—

—

—

0 $

— $

239

$

— $

(10,040) $

(9,801)

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

49

—

279

—

—

—

—

—

—

—

1

—

—

—

—

(149)

—

—

—

—

49

(149)

279

1

(12,969)

(12,969)

0 $

— $

567

$

1

$

(23,158) $

(22,590)

The accompanying notes are an integral part of these consolidated financial statements.

F-10