How is dbt Labs doing as of July 2024?

Marcelo Ballvé

Head of Research at Sacra

Annual and quarterly revenue charts are pasted below in this email and data in this spreadsheet (quarterly and monthly series on 2nd tab).

Based on publicly disclosed signals and data, it seems to us that they did not pass $70M ARR until November 2023.

We based our estimates mostly on statements by dbt Labs's former employees on LinkedIn.

On LinkedIn one prominent employee reports ~$55M ARR in May 2023, as this person exited the company.
Media articles in Forbes report 6x revenue growth in CY 2021, citing founders
Another employee reports 40x growth between October 2020 and March 2023

Our numbers line up with these figures, and conservatively project the same monthly revenue growth in Jun-Dec 2023 that was experienced in the initial 5 months of 2023 to come up with ~$73M ARR at the end of year. If they had a particularly great Q4'23, revenue could have been higher.