Databricks, a company software company focused on data and analytics announced this morning that it has surpassed $1 billion in annual revenue. The Wall Street Journal reported financial results for the first time.
The milestone comes after the company raised a massive $1.6 billion round at a valuation of $38 billion last August. At the time, Databricks announced that it had released annual recurring revenue (ARR) of $600 million.
By the end of 2021, Databricks said it had exceeded $800 million in ARR. As a result of the well-known recent valuation of the private market and the regular release of revenue figures, we have been able to monitor the growth and the resulting revenue multiples as the business grows and the market changes.
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The timing of the new song is a bit vague. BestFitnessBands confirmed with Databricks spokesperson Keyana Corliss that it passed the 10-digit turnover rate milestone in recent months, but was unable to establish a more precise timeline.