According to Variety, Netflix doesn't plan to produce a third season of Altered Carbon. Citing a source with "knowledge of the decision," Variety reports Netflix canned the show for one of its usual reasons. The company didn't see the series build enough an audience to justify its production budget. Netflix canceled another lavishly produced sci-fi series, the Wachowskis' Sense8, for the same reason. Deadline adds that the coronavirus pandemic, which played a part in the recent cancellation of The Society and I Am Not Okay With This, didn't factor into the decision.
Netflix released the second season of the series, which stared Anthony Mackie as protagonist Takeshi Kovacs, in February following an almost two-year gap between the first season in 2018. In March, it also released an anime spinoff called Altered Carbon: Resleeved.
Fans of Altered Carbon and its source material will undoubtedly find the decision disappointing. The series was one of Netflix's tentpole sci-fi properties. There’s a chance another company could pick up the project and continue it, much like Adult Swim said it would with Tuca & Bertie earlier this year, but the cost associated with making a sci-fi series like Altered Carbon makes that unlikely.