JetBrains Files Its Real Numbers. They Show Profit Falling While Revenue Climbs.
JetBrains publishes growth rates but never a total. Its Czech filings show revenue climbing from 3.03bn CZK (2015) to 15.07bn CZK (2024), about $649M, while operating margin collapsed from 46.3% to 13.6%. A sourced ledger of the biggest software company that never took a cent of outside money.
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Quick answer (2026): 
Why "JetBrains revenue" has no single answer
Search for this number and you get a spread that looks like disagreement: $252M, $400M, $649M, $720M. Google's own AI summary currently splits the difference and says "between $400 million and $720 million."
That range is not really a disagreement about how much money JetBrains makes. It is four different measurements wearing the same label. Once you separate them, the picture gets much clearer, and the actual story turns out to be more interesting than the headline figure.
The filed ledger nobody assembles
JetBrains is privately held, but it is not invisible. Its Czech entity files annual accounts in the public Czech commercial register at or.justice.cz, and those filings have been transcribed year by year into Wikidata, each line referenced back to a specific filed document.
Nobody on the first page of results puts the whole series in one place. Here it is, in the currency it was actually filed in.
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| Year | Revenue (CZK) | YoY | Operating income (CZK) | Operating margin | Net profit (CZK) |
|---|---|---|---|---|---|
| 2015 | 3.03bn | n/a | not filed | n/a | 1.06bn |
| 2016 | 2.53bn | -16.5% | 0.78bn | 30.9% | 0.59bn |
| 2017 | 4.58bn | +81.0% | 2.18bn | 47.6% | 1.55bn |
| 2018 | 6.12bn | +33.7% | 2.71bn | 44.2% | 2.28bn |
| 2019 | 7.73bn | +26.3% | 4.14bn | 53.5% | 3.36bn |
| 2020 | 9.30bn | +20.2% | 4.70bn | 50.6% | 3.70bn |
| 2021 | 10.43bn | +12.2% | 4.83bn | 46.3% | 3.97bn |
| 2022 | 10.91bn | +4.6% | 3.22bn | 29.5% | 2.29bn |
| 2023 | 13.40bn | +22.9% | 4.10bn | 30.6% | 3.86bn |
| 2024 | 15.07bn | +12.4% | 2.04bn | 13.6% | 2.48bn |
Source: Czech commercial register filings for JetBrains s.r.o., as transcribed in Wikidata (Q1688472), retrieved August 2026. Percentages calculated by OperatorBook from the filed CZK figures.
That is a 19.5% compound annual growth rate over nine years, achieved with zero outside money. In dollars, 2024 converts to roughly $649M in revenue, $88M in operating income and $107M in net profit, using the 2024 period-average rate of 23.220 CZK per dollar (CEIC).
The catch every estimate page skips
Here is the part that matters, and that no page quoting "$649M" or "$720M" mentions.
Those filings belong to one legal entity, JetBrains s.r.o. in Czechia. The same filings report that entity's headcount: 164 employees in 2023 and 168 in 2024. JetBrains the group reports 2,600+ employees across 13 offices.
Do the arithmetic and the entity books about $3.9M of revenue per employee. No real 168-person software operation earns that. What it looks like instead is a licensing entity that books group license sales while most of the 2,600 staff sit in other companies in the structure, including the Dutch holding company JetBrains N.V.
So the filed number is genuinely audited and genuinely useful, but it is not "JetBrains group revenue," and it may sit either above or below the true consolidated total depending on how the group prices transfers between its own entities. Anyone presenting it as the company's revenue is quoting a real number against the wrong label.
Reconciling the four figures
With that in hand, the spread stops being mysterious:
- $252M is GetLatka's 2024 estimate (page updated August 10, 2026). It understates the filed entity figure by about 2.6 times, which is what happens when a tracker models ARR from headcount and public signals rather than reading the filings.
- $400M is the figure that circulated on Hacker News in May 2025 and in Alexandre Dewez's Overlooked newsletter in 2023, describing roughly the 2022 position. It was reasonable then. It is now three years stale.
- $720M is the same 15.07bn CZK filing converted at a recent spot rate near 20.9 CZK per dollar instead of the 2024 average of 23.22. Same number, different day at the currency desk.
- $815M is what you get applying JetBrains' own stated 25.69% growth for 2025 to the filed 2024 base. It is consistent with the company saying EMEA alone contributed $464.1M in 2025, which would be about 57% of that total, plausible for a European company describing EMEA as its largest region.
Two of those four are the same measurement. One is stale. One is modelled. None of them is a disclosed group total, because no such disclosure exists.
What JetBrains does publish
JetBrains puts out an annual highlights report, and it is unusually candid about direction while staying silent on totals. From the 2026 report, covering 2025:
- 25.69% YoY revenue growth
- EMEA is the fastest-growing region (+39.79% YoY) and the largest revenue contributor ($464.1M)
- 12.5M+ recurring active users, up from 5.9M in 2019
- 2,600+ employees across 13 offices
- 88 Fortune Global Top 100 customers
- 343K Junie users since counting began March 26, 2025, and AI paid users up 240% YoY from Q4 2024 to Q4 2025
The 2024 report recorded 5.6% YoY revenue growth and 2,245 team members. The 2023 report recorded 11% growth in 2022. The company frames the reticence deliberately: "As a privately owned company, we are guided not by short-term market pressures," it writes, while also insisting "transparency is important to us." Both things are true. It publishes percentages and one regional absolute, and never the total.
The real story is in the margin, not the revenue
If you only chase the revenue line, you miss what the filings actually show.
Between 2021 and 2024, filed revenue rose 44%, from 10.43bn to 15.07bn CZK. Over the same three years, filed operating income fell 58%, from 4.83bn to 2.04bn CZK. Operating margin went from 46.3% to 13.6%.
That is a company spending its profit. Deliberately, and at scale.
The timing is not subtle. 
One honest caveat, because it matters. Entity-level accounts cannot separate genuine investment from intra-group transfer pricing. A margin that falls from 46% to 14% inside a single subsidiary can reflect real R&D spending, or a change in how the group allocates costs and revenue between its own companies, or both. The revenue trend is solid. The margin trend is directionally striking but not attributable from these filings alone.
What operators should take from this
The May 2025 Hacker News thread that put "$400M" into circulation was actually arguing about something more useful than the number. Its framing was "JetBrains makes $400M in revenue and is 10+ years old. Cursor is 1 year old and makes $300M in revenue." The best reply cut straight to the measurement problem:
"$400M in real revenue versus $300M in annual recurring revenue (ARR) are totally different things. Real revenue is money actually earned, while ARR just multiplies one month's subscription revenue by 12, ignoring customer churn."
That is the whole lesson, and it runs in both directions.
Real revenue and ARR are not comparable, and the choice of metric is a choice about who you are talking to. JetBrains files audited annual revenue in a public register because Czech law requires it. Cursor announces ARR because investors price growth rates. Neither is dishonest. They are answers to different questions, and putting them side by side tells you nothing.
Being unfunded buys you the right to have a bad three years on purpose. This is the part worth internalising. A company that let operating margin slide from 46% to 14% for three straight years while revenue kept climbing would face a very different conversation with a VC board or public shareholders. There would be pressure to protect the margin, and the AI response would have been smaller and later. JetBrains had nobody to ask. That optionality, not the revenue figure, is what twenty-six years of taking no outside money actually bought.
The counter-frame, though: this only works because the company was already extremely profitable. JetBrains spent from a 46% margin and a balance sheet that reached 17.43bn CZK in total assets by 2024. At $30K MRR with three months of runway, "let the margin fall for three years to fund a strategic bet" is not a decision you get to make. Bootstrapping does not confer that freedom. Profitability does, and only after it compounds for a long time. Reading JetBrains as proof that staying unfunded gives you strategic patience gets the causation backwards.
The honest bottom line
Nobody outside JetBrains knows its group revenue, and the figures in circulation are each measuring something narrower. The best available evidence is a real filed series running from 3.03bn CZK in 2015 to 15.07bn CZK in 2024 for its Czech entity, plus company-stated growth of 25.69% for 2025 and one regional absolute of $464.1M. Together those put the group somewhere in the high hundreds of millions, likely around $800M for 2025, with a meaningful error bar in both directions.
This is an editorial reconciliation assembled from public filings, company reports and third-party trackers, not a company disclosure. JetBrains does not publish consolidated group revenue. Currency conversions state the rate used. Figures labelled estimate or derived are exactly that.
Keep reading
- Zoho revenue: the $1.4B number built on zero VC: the other large software company that never took outside money, at roughly twice JetBrains' scale.
- The month my gross margin scared me at $38K MRR: a founder diary on what margin compression feels like when you do not have a 46% cushion to spend from.
- Ahrefs revenue: the $257M number it let slip: another profitable, unfunded company that discloses almost nothing and gets estimated constantly.
Written by
Joaquin del RioJoaquin del Rio covers the money behind the milestones for OperatorBook, digging into what bootstrapped and indie founders actually earn and what it took to get there.
Frequently asked questions
What is JetBrains' revenue?
JetBrains does not publish a consolidated group revenue figure. Its Czech entity filed 15.07bn CZK in revenue for 2024 in the Czech commercial register, about $649M at that year's average rate of 23.22 CZK per dollar. Applying the company's own stated 25.69% growth for 2025 to that base gives roughly $815M. JetBrains separately confirmed that EMEA alone contributed $464.1M in 2025.
Does JetBrains publish its revenue?
Not as a total. JetBrains publishes an annual highlights report with revenue growth percentages (11% for 2022, 5.6% for 2023, 25.69% for 2025) and, in the 2026 edition, one regional absolute figure of $464.1M for EMEA. It has never published a consolidated group revenue number. Separately, its Czech subsidiary is legally required to file annual accounts in the public Czech commercial register, which is where the hard figures come from.
Why do JetBrains revenue estimates range from $252M to $720M?
Because the figures measure different things. $252M is GetLatka's 2024 model. $400M described roughly the 2022 position and is now stale. $649M and $720M are the same filed 15.07bn CZK figure converted at the 2024 average rate and at a recent spot rate respectively. And all of them describe the Czech filing entity, which reported only 164 to 168 employees, not the 2,600-plus person group.
Has JetBrains ever raised venture capital?
No. JetBrains has never raised external capital since it was founded in February 2000 by Sergey Dmitriev, Valentin Kipyatkov and Eugene Belyaev. It describes itself as a privately owned company, and its filed accounts show it has funded its growth from its own profits.
Is JetBrains profitable?
Yes, and it has been for as long as the filings run. Its Czech entity reported positive net profit every year from 2015 to 2024, peaking at 3.97bn CZK in 2021. But profitability has compressed sharply: filed operating margin fell from 46.3% in 2021 to 13.6% in 2024, even as revenue rose 44% over the same period.
How is JetBrains responding to Cursor and GitHub Copilot?
With AI Assistant and then Junie, its agentic coding tool. JetBrains reports 343K Junie users since counting began on March 26, 2025, AI paid users up 240% year over year from Q4 2024 to Q4 2025, and a six-figure active paid user count by Q4 2025. Overall revenue growth reaccelerated from 4.6% in 2022 to 25.69% in 2025.
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