Per Woofun AI, OpenAI disclosed a $3.7 billion cash outflow for the first quarter of 2026, representing over 60% of the period's $5.7 billion revenue. Financial statements submitted to shareholders indicate that both revenue and burn rates tripled compared to the same quarter last year.

Concurrently, cash and marketable securities holdings expanded significantly, rising from $40 billion at the end of December to over $73 billion by the close of Q1.

The company reported a net loss exceeding $21.3 billion, largely attributed to a $12.4 billion non-cash accounting adjustment related to convertible equity and stock warrant liabilities. Excluding these items, the operational loss stood at $9.3 billion, which included $2.3 billion in employee stock-based compensation and $8.6 billion in R&D expenses. Gross margin improved to 39% from 33% year-over-year, though cloud compute commitments reached $66.5 billion under contracts extending to 2030. OpenAI recently filed for an initial public offering.