diff --git a/requirements/analytics.txt b/requirements/analytics.txt
index 77ea572..005a1d0 100644
--- a/requirements/analytics.txt
+++ b/requirements/analytics.txt
@@ -1,3 +1,3 @@
 dbt-core>=1.11,<1.12
 dbt-duckdb>=1.10,<1.11
-protobuf==6.33.5  # 6.32.x had a memory regression (~5GB RSS on startup), resolved in 6.33+
+protobuf==7.34.0  # 6.32.x had a memory regression (~5GB RSS on startup), resolved in 6.33+