Databricks Projects $2.4 Billion Revenue with 60% Growth in FY 2025

Databricks has informed investors that its annualized revenue is expected to reach $2.4 billion by the midpoint of this year, representing a growth rate of over 60% year-over-year. The announcement was made by CFO Dave Conte during an investor briefing at the company's Data and AI Summit in San Francisco. This growth marks an acceleration compared to the previous year, when the company achieved a 50% growth rate to reach $1.5 billion in annualized revenue. The increase in revenue is attributed to new customer acquisitions and expanded usage among existing customers. The expected revenue will cover the first half of its FY 2025, through July 2024.