OpenAI's Q1 2026 Revenue Hits $5.7 Billion, Losses Widen

OpenAI reported $5.7 billion in revenue for Q1 2026, surpassing Anthropic's $4.8 billion. ChatGPT remains the core product, with paid subscribers growing from 47 million to 55 million and around 920 million weekly active users. Growth is shifting toward enterprise business and the Codex programming assistant.

Despite revenue growth, OpenAI's adjusted operating margin was negative 122%, meaning it loses $1.22 for every dollar earned, excluding employee stock incentives. This loss is a key driver for the company's accelerated IPO preparation. The New York Times reports OpenAI is working with Goldman Sachs and Morgan Stanley, aiming for an IPO as early as September.