LLAMAINDEX·AI/LLM developer infrastructure & data orchestration (RAG / agent frameworks)Pre-IPO · Private

LlamaIndex

ConvictionContext

Open-source core (Python/TypeScript framework, permissive MIT-style license) monetized via a managed cloud platform: usage/credit-based document parsing (LlamaParse) plus subscription tiers for LlamaCloud (managed knowledge/retrieval), and enterprise/self-hosted contracts. Classic open-source-to-commercial (OSS funnel -> managed-service conversion).

Revenue

~$10.9M estimated 2025 revenuethird-party estimate; company has not disclosed official financials). 2026 figures not disclosed.

Rev growth

Not disclosed. Described qualitatively as fast-growth off an OSS adoption baseno audited growth rate available.

Gross margin

Not disclosed. Structurally software-like but pressured by per-page LLM/compute cost of the parsing pipelineLlamaParse) which is COGS-heavy relative to pure SaaS.

Op margin

Not disclosedpresumed deeply negative (early-stage, ~30+ headcount, growth-funded).

Capex intensity

Low direct capex - runs on cloud infrastructureopex), not owned data centers. Compute cost flows through COGS, not capex.

Valuation

~$93M post-moneySeries A, Mar 2025; third-party estimate, CB Insights). Undisclosed strategic minority rounds from Databricks & KPMG (May 2025) may have altered this; not repriced publicly.

Valuation trail

Strategic minority investments (Databricks Ventures, KPMG Ventures) - terms undisclosed, not repriced publicly2.1× since Jun 2023

3 marks · Jun 2023–May 2025

private — no public price

Priced round

Valuations are third-party estimates (CB Insights/PitchBook); LlamaIndex has not disclosed official post-money figures. The May 2025 Databricks/KPMG strategic minority investments were undisclosed in amount and did not reprice the company publicly, so the trail holds the ~$93M Series A mark through that date.

The read

Where our coverage leans

Coverage leans bullish

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Full financial intelligence for LlamaIndex

Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.

Income statement & margin structure
SWOT, moats & dependency map
Supplier–customer ecosystem graph
Signals, trends & valuation range

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Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07· sign in (free) for the analyst summary; Pro unlocks full intelligence