I don't think that's true in 2026 - they claim that two of those three quarters were profitable.
You may be thinking about their 2025 numbers, which have been widely commented on recently, often in a way that failed to separate them from 2026.
You may be thinking about their 2025 numbers, which have been widely commented on recently, often in a way that failed to separate them from 2026.
This is the same company that claims -among so many other things- that:
* 100% of its employees believe that the over-arching project they're working on is likely to kill all humans either by the end of the decade, or in ten years
* not only is it completely incapable of working on said project safely, it is impossible for the company to stop working on said project unless they get special laws and regulations made just for them (the implication here being that they play a very large role in creating said laws and regulations, given that they're the SMEs and all)
* that their super-duper LLM-based vulnerability scanner was so powerful that access to it absolutely had to be tightly controlled lest The Bad Guys use its awesome power to pwn every bit of software on earth [0]
I don't trust their claims. If we still had a well-functioning investigative press, I expect we'd see the majority of the big claims coming from the Major LLM Manufacturers pretty quickly either exploded or substantially revised into much smaller claims.
[0] ...that this pretty neatly feeds into their long-running narrative of Imminent And Extreme Danger is just a coincidence, honest!
Lying to your investors is fraud.
Their actual claims were demonstrably true. Just look at how the rate of CVEs has gone up. Or, alternatively, look at what can be done now with the open weights models that are only a few months behind the SOTA models.
> * not only is it completely incapable of working on said project safely, it is impossible for the company to stop working on said project unless they get special laws and regulations made just for them (the implication here being that they play a very large role in creating said laws and regulations, given that they're the SMEs and all)
Even if you think this is all BS/regulatory capture: https://en.wikipedia.org/wiki/Prisoner's_dilemma
The way around everyone defecting in the prisoner's dilemma is to have enforcers.
no they didn't. What they said was "positive adjusted operating income". The most important word there is "adjusted", ie. they are not profitable if you include all costs
They don't seem to do this by accident, and the only reason I see would be to deceive investors or potential investors.