Leaked financial documents reveal OpenAI's revenues surge to $13B but losses mount ahead of IPO
By
Kyle Orland
Lightly toasted, lightly seasoned, mostly correct.
Summary
OpenAI's leaked audited financial documents, obtained by journalist Ed Zitron and reviewed by the Financial Times, reveal rapidly growing revenues ($3.7B in 2024 to $13.07B in 2025, with monthly revenues nearing $2B by end of 2025) that are being overwhelmed by even larger expenses, particularly in R&D and other costs. The company is losing billions annually despite its revenue growth, as it files SEC paperwork ahead of a potential IPO.
Key quotes
· 3 pulledThe audited financial statements, obtained by independent journalist Ed Zitron, show OpenAI's reported revenue growing from $3.7 billion in 2024 to $13.07 billion in 2025.
The Financial Times, which reviewed the same documents, writes that the company's monthly revenues had grown to nearly $2 billion by the end of 2025.
Audited accounting shows growing revenues being dwarfed by R&D, other expenses.
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