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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 (loss)

Accumulated
deficit

Total
stockholders’
deficit

Balance as of December 31, 2025

544,322 $

29,769

1,901,267 $

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, grants of restricted 
stock, and sales of common stock 
for cash (unaudited)

Issuance of Class A common 
stock in connection with 
acquisitions (unaudited)

Issuance of Class N common 
stock upon settlement of 
donation matching program 
liability (unaudited)

Stock-based compensation 
expense (unaudited)

Foreign currency translation 
adjustments (unaudited)

Net unrealized loss on available-
for-sale securities (unaudited)

Net loss (unaudited)

Other (unaudited)

Balance as of June 30, 2026 
(unaudited)

285,187

122,242

23,885

5,499

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

229,818

26,313

—

—

—

—

—

—

853,394 $

157,510

2,157,398 $

—

—

—

—

—

—

—

—

—

—

—

—

— $

—

—

—

—

30,643

—

—

—

—

—

30,643

$

—

—

—

—

—

—

—

—

—

—

—

—

0 $

— $

1,644

$

5

$

(52,154) $

(50,505)

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

—

355

534

667

2,185

—

—

—

(49)

—

—

—

—

—

—

(9)

(49)

—

—

—

—

—

—

—

—

—

—

—

—

355

534

667

2,185

(9)

(49)

(80,748)

(80,748)

—

(49)

0 $

— $

5,336

$

(53) $

(132,902) $

(127,619)

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

F-11