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Databricks keeps marching forward with $1.6B in revenue
While the world waits for Databricks to IPO, the data lakehouse company just keeps raking in the dough, reporting $1.6B over the last year.
The public markets remain a very tough space, so it appears that Databricks is content to stay private for the time being, while letting customers and investors know it’s doing extremely well, thank you very much. Notably Databricks is not growing on the back of selling its services too cheaply; the company told TechCrunch that in its most recent fiscal year, it had gross margins for its subscription products of more than 80%. The company will not have to depend too heavily on its net retention number to keep it growing, telling TechCrunch that generative AI-related business helped it post its best ever quarter in bookings terms, doubling its prior record.
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