Dremio
Lakehouse query engine for Apache Iceberg data, now owned outright by SAP.
On the record
Checkpoint: SAP quarterly earnings commentary on Dremio integration and synergy costs
The call
Dremio's survival is settled by the SAP acquisition, but whether it stays an open Iceberg standard-bearer or gets folded into SAP's existing data partnerships remains unresolved.
Dremio builds software that lets companies find and use data across different systems without having to move it around. It was bought by SAP in mid-2026, so the company itself will not fail. The real question is whether SAP will keep Dremio as its own separate product with open-source roots, or whether SAP will slowly fold it into its own proprietary tools. Competitors like Databricks and Starburst offer similar data access, but the bigger risk is internal: SAP already partners with Databricks and Snowflake, which could pull resources away from Dremio or create conflicts inside SAP's own sales team. Watch whether Dremio's founding team stays put, whether non-SAP customers switch to rival products over the next year, and how SAP resolves the question of which data tool gets priority in its own business.
Why
01
AI pressure: None apparent. AI agents need governed access to lakehouse data, so Dremio's MCP interface feeds agentic AI rather than being eaten by it. Could AI do the core job? Unlikely.
02
Bigger players: SAP SE (as new owner, via Databricks/Snowflake partnerships inside SAP Business Data Cloud). SAP now owns Dremio but also partners with Databricks and Snowflake, so internal channel conflict could sideline Dremio's product line. Could a giant copy it? Probably.
03
What protects it. Enterprise customers like Shell, TD Bank, Maersk and TransUnion depend on Dremio's Iceberg-native, open architecture for governed data access.
What would change this call
SAP Q2 2026 earnings (late July 2026) commentary on Dremio integration costs and synergies. shows whether SAP treats Dremio as a strategic priority or a cost line.
Independent Dremio product releases stop and branding shifts to SAP Business Data Cloud within 12 months. would confirm Dremio is being absorbed into SAP's proprietary stack.
Departure of Dremio founders or Apache Iceberg committers through 2027. would signal erosion of Dremio's open-source leadership and technical identity.
Independent Dremio product releases stop and branding shifts to SAP Business Data Cloud within 12 months. would confirm Dremio is being absorbed into SAP's proprietary stack.
Departure of Dremio founders or Apache Iceberg committers through 2027. would signal erosion of Dremio's open-source leadership and technical identity.
Key numbers
- Deal closed July 6, 2026 near $1.0-1.16B
- Headcount ~372, down 3.6% year over year
- Estimated 2025 revenue ~$41.5M ARR
Named risks
- SAP integration absorbs Dremio into proprietary stack, ending independent open Iceberg-native release cadence.
- Channel conflict with SAP's existing Databricks and Snowflake partnerships starves Dremio of internal priority.
- Non-SAP customers churn to Starburst or Databricks due to new SAP ownership uncertainty.
- Departure of founding team or Apache committers post-acquisition weakens open source standing.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Snowflake | contesting | Snowflake built its own Polaris catalog (2024), competing on Iceberg openness that Dremio also relies on |
| Databricks | contesting | Both partner inside SAP Business Data Cloud alongside newly acquired Dremio, per infotech.com, 2026-06-30 |
| Starburst | gaining on | Positioned to capture non-SAP customers wary of Dremio's new SAP ownership after 2026-07-06 close |
| SAP (Databricks/Snowflake partnerships) | losing to | Risk that SAP's existing Databricks/Snowflake partnerships sideline Dremio within SAP Business Data Cloud |
Questions people ask
- Who owns Dremio now?
- Dremio became a wholly owned subsidiary of SAP SE after SAP completed its acquisition on July 6, 2026, following a deal announced May 4, 2026 and reported at roughly $1.0 to $1.16 billion, per SAP's own announcement.
- Is Dremio still an independent startup?
- No. As of July 6, 2026, Dremio is a wholly owned SAP subsidiary, folded into SAP Business Data Cloud to provide an Apache Iceberg native lakehouse, catalog, and semantic layer, per SAP's official completion announcement.
- Could AI replace Dremio's product?
- Unlikely soon. Dremio's governed data access layer, Iceberg/Arrow/Polaris standards leadership, and enterprise lock in at Shell, TD Bank, and Maersk mean AI agents need Dremio's layer rather than replacing it; Dremio added MCP agent connectivity in April 2025.
- Who is Dremio's biggest competitor?
- Snowflake and Databricks are Dremio's closest rivals in the lakehouse and Iceberg query space, though both also partner with SAP inside SAP Business Data Cloud, creating potential channel conflict with newly acquired Dremio as of mid 2026.
- Is Dremio profitable?
- Dremio has not publicly disclosed profitability or audited revenue; third party revenue estimates for 2024 to 2025 varied wildly (from roughly 3.8 million to 380 million dollars across different trackers), so no reliable profitability figure exists as of July 2026.
- How much did SAP pay for Dremio?
- SAP did not publicly disclose an official price; media reports citing Reuters and Bloomberg placed the deal value at approximately 1.0 to 1.16 billion dollars, announced May 4, 2026 and closed July 6, 2026.
Timeline
- 2026-07-06SAP completes acquisition of Dremio, making it a wholly owned subsidiary
- 2026-05-07SAP completes related acquisition of Reltio (MDM) as part of same agentic AI push
- 2026-05-04SAP announces agreement to acquire Dremio for SAP Business Data Cloud
- 2026-04-06Dremio ships Apache Iceberg V3 support; engineer JB Onofre joins Apache Software Foundation board
- 2025-11-12Dremio releases 'Dremio Next Gen Cloud' at Subsurface Lakehouse Conference
- 2025-04-08Dremio launches Autonomous Reflections, Iceberg Clustering, and MCP AI agent interface
- 2022-01-25Dremio raises $160M Series E at $2 billion valuation
- 2015-01-01Dremio founded by Jacques Nadeau and Tomer Shiran
Revision history
21 July 2026
First assessed. Defensible for now. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- SAP Completes Dremio Acquisition (2026-07-06)
- SAP acquires Dremio and Prior Labs in €1 billion AI push (2026-05-06)
- Dremio Doubles Valuation to $2 Billion (2022-01-25)
- SAP to Acquire Dremio (2026-05-04)
- Dremio Advances Lakehouse Intelligence (2025-04-08)
- $41.5M Est. ARR, $2B Valuation (2026-07-02)
- Dremio - Headcount, Funding & Open Jobs (2026-06-30)
- Dremio Corporation Company Profile (2024-03-14)
- Dremio: The Agentic Lakehouse for AI and Analytics
- SAP Acquires Dremio, Reltio, and Prior Labs (2026-06-30)
- Dremio Deepens Apache Iceberg Leadership (2026-04-06)
- Comprehensive Hands-on Walk Through of Dremio Cloud Next Gen (2025-11-12)