Runway AI Inc.’s annual recurring revenue hit $200 million in September, underscoring growing demand from companies using the startup's image- and video-generating software to make marketing materials and ads.
The company’s annual recurring revenue, which is a measure of a company’s annual sales based on predictable revenue like subscriptions, doubled over the past five months, co-founder and co-chief executive officer Anastasis Germanidis said in an interview. The company has also brought in new customers including Italian fashion brand Dolce & Gabbana and cybersecurity company Palo Alto Networks Inc., he said.