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Adoption has an expanding support network. The Claude Partner Network counted over 150,000 certified practitioners across more than 4,000 organizations as of September 30, 2026.
Revenue growth is outpacing compute costs. Q2 revenue increased 1,368% year over year, while compute and infrastructure expenses rose 300%, demonstrating improving compute efficiency.
The large-customer roster runs deep. As of September 30, 2026, more than 11,900 customers generated at least $100,000 in trailing annual revenue; over 1,900 exceeded $1 million and roughly 250 exceeded $10 million.
Customer expansion is a standout. Net revenue retention was approximately 900% as of September 30, 2026, highlighting the scale of spending growth within the existing customer base.
Profitability has arrived at the operating level. Q2 operating income hit $1.0 billion at an 8% margin, reversing a $1.2 billion operating loss. Adjusted operating income was $2.2 billion, a 19% margin.
Revenue is scaling at an extraordinary pace. Second-quarter 2026 revenue reached $11.6 billion, up from $787 million a year earlier; the company reports 1,368% year-over-year growth.
Underwriters: Goldman Sachs, Morgan Stanley, J.P. Morgan, Citigroup, Barclays, Wells Fargo, BofA securities, Deutsche Bank Securities, RBC Capital Markets, UBS Investment Bank
Co-Managers: BMO Capital, BNP PARIBAS, Credit Agricole CIB, Jefferies, Mizuho, MUFG, Societe Generale, TD Securities, BTIG, Cantor, Capital One Securities, Macquarie Capital
Iambic Therapeutics, Inc. (IAM) priced a full size deal of 9.375mm shares at $16.00 (midpoint of the range) and will debut on Thursday.
5/6 🧵 $BMB: The company postponed its IPO, citing market conditions. Bamboo had targeted 35M shares at $18–$20, implying a fully diluted valuation of up to $3.1B. Orion180’s recent performance added pressure.
6/6 Next up: $ACCV and solana:AJnCmqEB88PcbARxeh7SJw4xxhCPA5w4zDg27XzGpump. Accelevation offers exposure to AI data-center infrastructure, while Oura brings its smart-ring health-tracking platform and subscription business to the public markets.