Adaptation anime can be, but isn't always. Adaptations are low hanging fruit and while the anime itself doesn't always break even they aim for merch sales and the like as well.

Anime originals are not at all expected to lose money - and this is where most of the top tier shows come from anyway. Gundam sure as hell prints money, any and all gundam manga are barely tertiary compared to the show and model kits etc.

Cowboy bebop, for a less "toy salesman" example. That wasn't made as a loss leader.