Anthropic IPO filing says spending by top enterprise Claude Code users is 20 times that of other Claude users

Anthropic has filed an S-1 to list on Nasdaq (ticker ANT) and is making Claude Code central to enterprise growth. The filing says that in the third quarter, Claude Enterprise users without Claude Code spent less than $75 per month on average, while the top 5% of Claude Code users in Enterprise spent about 20 times that. As of September 30, 2026, more than 11,900 customers had paid $100,000 or more over the past 12 months, compared with more than 950 a year earlier; revenue was $16.3 billion in the first half of 2026, compared with $1.2 billion in the same period of 2025, with token usage accounting for 50%. The filing also says that in September more than 90% of contributions to the company's codebase were written by Claude, and that per-engineer daily code output was more than 45 times the 2024 level, but it does not define what counts as a “contribution” or the extent of human review.