Databricks Data and AI Summit — Where Innovation Meets Acceleration

研报英文原文证据摘录

Databricks Data and AI Summit — Where Innovation Meets Acceleration

Equity Research

Industry Update — June 16, 2026

U.S. Software

Databricks Data and AI Summit — Where

Innovation Meets Acceleration

Our Call Michael Turrin, CFA

We were out at Databricks' a-day & user conf today, where we come away with increased Equity Analyst | Wells Fargo Securities, LLC

Michael.Turrin@wellsfargo.com | 628-629-7565

conviction on AI's positive impact at the data layer.

Ryan MacWilliams, CFA

Equity Analyst | Wells Fargo Securities, LLC

Key financial highlights: Databricks disclosed ~$4.1B in FY26 revs, growing >55% y/y and Ryan.MacWilliams@wellsfargo.com | 212-214-1192

with net retention rates still holding at 140%+. Moreover, the co stated it expects to exit Austin Williams

1H27at $6.9B in ARR, adding roughly $1.5B in ARR through the first half & suggesting Associate Equity Analyst | Wells Fargo Securities, LLC

revs will accelerate further in 2Q. Total growth during 1H is expected to eclipse 80%, aided Austin.R.Williams@wellsfargo.com | 628-629-7572

by sharply increasing token spend (though core growth still posting 65%+). FCF margins Camden Levy

trending near breakeven to slightly positive. Associate Equity Analyst | Wells Fargo Securities, LLC

Camden.Levy@wellsfargo.com | 415-834-4725

Exhibit 1 - Databricks Has Closed the Revenue Gap ($, in M) Rachel Chang

Associate Equity Analyst | Wells Fargo Securities, LLC

Rachel.Chang@wellsfargo.com | 212-214-3315

Source: Wells Fargo Securities, LLC estimates, Company reports

Product rev disclosures: AI $1.7B, SQL $1.5B, OLTP $100M: Databricks SQL has now

reached $1.5B+ ARR & growing 100% y/y, faster than the overall biz and now likely

representing >25% of revs. Recall the co disclosed $1B in SQL ARR as of Oct '25 (~20% of

revs).