Notes: Revenue data are based on Bloomberg quarterly data, adjusted by Fenwick to reflect a calendar-year revenue for each company for comparison purposes. “Silicon Valley” includes Marin County as well as Alameda, Contra Costa, San Francisco, San Mateo and Santa Clara counties. Bloomberg has calculated adjusted revenue for LendingClub, reflecting that the net revenue required for GAAP reporting by financial institutions differs from revenue reported by operating companies more generally. These updated or adjusted revenues were not used for purposes of determining the Fenwick – Bloomberg Law SV 150 List, though Bloomberg generally provides them when reporting 2023 revenues for those companies. Quantum Corp, which has been included in the list in recent years, was excluded because at the time of publication the company has not publicly filed revenues for the relevant periods.

Maplebear (NASDAQ: CART), d/b/a Instacart, IPO'd in 2023.

Nextracker (NASDAQ: NXT), spun out from Flex Ltd. (NASDAQ: FLEX) in 2023.