Is the hope for them that they'll outpace their run with a massive revenue growth? I believe that they have that, but numbers like a net loss of $46b in 2025[0] seem hard to overcome.
Re: self-reporting, I'd be inclined to think they're using non-GAAP practices to make it sound more favorable, but I am by no means an expert, so willing to believe I am wrong.
I'll read the article you sent; this is just my off-the-cuff thinking.
I really don't think the 2025 figures are interesting at this point. Everything changed for them in 2026 - nobody was spending $1000/month/employee in 2025, there wasn't enough interesting token-heavy stuff to do with the models.
I think Anthropic might actually make it to profitability - they're earning more revenue than OpenAI and they've spent significantly less, too.
I do think their definition of profitability is likely skewed, but you're right that 2025 is out-of-date.
I did realize I forgot to link the article sourcing my claim in my above comment, and too late to edit, so here it is: https://www.reuters.com/business/finance/anthropics-ipo-pros...