Supabase
ConvictionContext
Open-source core (Postgres) + usage-based managed cloud subscriptions (free/pro/team/enterprise tiers); land via free developer tier, expand with usage and enterprise contracts
Revenue
~$170M ARRMay 2026, Sacra estimate; ~$101M end-2025, ~$70M Aug 2025) - not officially disclosedRev growth
Triple-digit YoYSacra estimated 250% YoY at Aug 2025; ~$101M end-2025 to ~$170M May 2026 annualizes well above 100%); company discloses usage growth, not revenueGross margin
not disclosedmanaged-Postgres-on-AWS model implies infra-heavy COGS, likely below pure-software peersOp margin
not disclosedCapex intensity
Low owned capex - rents compute/storage from cloud providersopex model); COGS scales with usageValuation
~$10.5BSeries F post-money, Jun 4 2026; $500M raised, led by GICValuation trail
$10.5B5.3× since Apr 2025
3 marks · Apr 2025–Jun 2026
private — no public price
Priced round
Earlier rounds (YC S20; $30M Series A, Sep 2021; $80M Series B led by Felicis, May 2022; $80M Series C co-led by Craft Ventures and Peak XV, Sep 2024) did not carry officially disclosed valuations and are omitted from the plotted trail. All plotted marks are primary priced rounds, not secondary trades.
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Supabase
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
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