Equity Research Industry Update — June 16, 2026 U.S. Software Databricks Data and AI Summit — Where Innovation Meets Acceleration Our Call We were out at Databricks' a-day & user conf today, where we come away with increased conviction on AI's positive impact at the data layer. Key financial highlights: Databricks disclosed ~$4.1B in FY26 revs, growing >55% y/y and with net retention rates still holding at 140%+. Moreover, the co stated it expects to exit 1H27at $6.9B in ARR, adding roughly $1.5B in ARR thr ...