Databricks IPO: $134B Valuation, S-1 Expected Mid-Summer 2026

Databricks: The Next Enterprise Software IPO

Databricks has not yet filed an S-1, but the company is widely expected to file mid-summer 2026 — making it one of the most anticipated enterprise software IPOs in years. With a $134 billion valuation and $5.4 billion in annual recurring revenue, Databricks represents a rare combination of scale and growth.

Key Facts

Detail	Value
Current Valuation	$134B (Series L, December 2025)
ARR	$5.4B (growing 65% YoY)
Cash Position	Well-capitalized after $4B equity + $1.8B debt
Free Cash Flow	Positive
Expected Underwriters	Goldman Sachs, Morgan Stanley
S-1 Timeline	Mid-summer 2026

Recent Funding

Series L (December 2025): $4B at $134B valuation
Debt Financing (January 2026): $1.8B
New CFO David Conte (ex-Google, Salesforce) hired specifically for IPO execution

Why Databricks Stands Out

Unlike many AI companies racing to IPO, Databricks has:

Positive free cash flow — not burning cash
65% YoY revenue growth at $5.4B scale — rare combination of size and speed
Enterprise-grade product — data lakehouse platform used by thousands of companies
Clear path to profitability — already FCF positive

The company's data and AI platform has become critical infrastructure for enterprises building AI applications, positioning it at the intersection of the two hottest enterprise themes.

What This Means for Secondary Market Holders

S-1 filing imminent: Mid-summer timeline means weeks, not months
Strong fundamentals should support stable secondary pricing through the IPO process
$134B is a real valuation backed by revenue, not hype — reduces IPO pricing risk
Lock-up terms will be critical — watch the S-1 for details

Sources: Industry analysis, Tech Insider

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