Perplexity AI’s annual recurring revenue has surged to more than $450 million as of March, more than doubling in a single quarter following the launch of new products and pricing changes, the Financial Times reported.
The sharp increase in revenue was driven by the rollout of “Computer,” an agent-style tool, alongside a shift to a usage-based pricing model, the report said.
The company has also benefited from growing enterprise adoption and a user base that now exceeds 100 million.
Prior to the pricing overhaul, Perplexity had already expanded its annual recurring revenue to about $305 million, up from roughly $16 million over the past two years, underscoring rapid growth even before the latest acceleration.
A Perplexity executive told the Financial Times that revenue retention remained “strong,” though no specific figure was disclosed.
The artificial intelligence startup has seen its valuation climb in recent months. As of September 2025, Perplexity was valued between $20 billion and $21.2 billion following a $200 million funding round, up from $9 billion earlier in 2025 and about $3 billion in mid-2024.