Black Forest Labs
German maker of the FLUX image models, sold through an API and used inside other apps.
- Value
- $3.25B (Dec 2025, after a $300M Series B)
- Based in
- Freiburg, Germany
- Listed
- Private
Its models sit inside many other apps, so it earns when those apps run them.
Open models and big-lab image tools push prices down.
Money coming in
Who pays Black Forest Labs, and for what.
No customers of Black Forest Labs mapped yet.
Money going out
Who Black Forest Labs pays to do what it does.
No suppliers of Black Forest Labs mapped yet.
Where it sits on the map
Competitors and neighbours
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More than $750M annualised, up from under $250M at the start of 2026 (press reports, Aug 2026)
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About $4B annual recurring revenue at the end of 2025 (company)
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About $30M annualised (Jul 2025, Sacra estimate)
Open profileMakes slides, pages and websites from a prompt, sold on a free and paid plan.
Passed $100M ARR (company, late 2025). Sacra estimate $102M in Oct 2025
Open profileAI image generator used by artists and designers, sold by subscription.
About $500M in 2025 (Latka estimate)
Open profileSources: neuronfeed.com
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