OpenAI Reports $10 Billion in Quarterly Revenue as Operating Losses Widen

What did OpenAI's third-quarter 2026 financial results show?

According to investor documents reported by The Wall Street Journal on November 10, OpenAI's quarterly revenue reached approximately $10 billion, while its operating loss increased from $10.1 billion in the second quarter to $10.9 billion.

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Why do OpenAI's growing operating losses matter for investors?

The reported $10.9 billion quarterly operating loss exceeded the company's $10 billion revenue, indicating that substantial revenue growth has not yet covered its operating costs and that reducing losses remains central to its investment case.

Did OpenAI's profitability improve despite the larger loss?

OpenAI's reported adjusted operating margin improved from negative 150% in the second quarter to negative 109% in the third, indicating better operating efficiency relative to revenue even as its absolute operating loss increased.

Has OpenAI independently confirmed the reported financial figures?

The figures came from investor documents described by The Wall Street Journal rather than a public financial statement issued by OpenAI, which had not responded to Reuters' request for comment when the report was published.

What should investors watch after OpenAI's $10 billion revenue quarter?

The key question is whether continued revenue growth can reduce OpenAI's absolute operating losses while improving adjusted margins, demonstrating a path toward profitability rather than simply increasing the scale of its business.