Databricks Expects Revenue Growth Rate Over 50%
Dubbed the “Anti-ChatGPT” by The Information, Databricks is Growing Fast
The company is predicting the cash burn will be rewarded with a revenue growth rate of 50% or higher for each of the next three years, as it looks to get more companies hooked on its tools that help data scientists make sense of large pools of data. The company expects to pull in about $1.6 billion in revenue this fiscal year, which ends in January.
San Francisco-based Databricks also expects to get closer in size to publicly traded rival Snowflake, which had nearly twice the revenue as Databricks last year. Databricks forecasted that its sales will be 80% of Snowflake’s by the 2026 fiscal year, according to Databricks’ own projections and FactSet’s forecast of Snowflake. That would put Databricks’ revenue at about $3.7 billion.
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