databricks, enterprise The data and analytics software company announced this morning that it has surpassed $1 billion in annual revenue. Wall Street Magazine first reported news about the financial result.
The milestone comes after the company raised a giant $1.6 billion round last August at a valuation of $38 billion. At the time, Databricks announced that it had crossed the $600 million annual recurring revenue (ARR) mark.
By the end of 2021, Databricks said its ARR was over $800 million. As a result of the company’s well-known recent private market valuation and its regular earnings disclosures, we have been able to track its growth and the resulting earnings multiples as the company grows and the market changes.
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The timing of the release of the new issue is somewhat vague. TechCrunch confirmed by a Databricks rep Kiana Corliss that the company has hit a 10-figure earnings milestone in recent months, but has been unable to set a more precise time frame.
Credit: techcrunch.com /