They have good margins on inference at API costs, i.e. $5/$25 per mtok input/output. They are almost certainly making losses on subscriptions, at least if people max out rate limits.
In the past 30 days I have burned $78.19 in API token costs with my $20/month Claude Pro subscription. In January I burnt over $300 in API token costs.
In the past 30 days I have burned $78.19 in API token costs with my $20/month Claude Pro subscription. In January I burnt over $300 in API token costs.