Press release
Datadog Announces First Quarter 2023 Financial Results
First quarter revenue grew 33% year-over-year to $482 million Strong growth of larger customers, with about 2,910 $100k+ ARR customers, up from about 2,250 a
About this update from Datadog, Inc.
[{"type":"text","content":"First quarter revenue grew 33% year-over-year to $482 million\nStrong growth of larger customers, with about 2,910 $100k+ ARR customers, up from about 2,250 a year ago\nLaunched Data Streams Monitoring and Application Vulnerability Management\nNEW YORK, May 4, 2023 /PRNewswire/ -- Datadog, Inc. (NASDAQ:DDOG), the monitoring and security platform for cloud applications, today announced financial results for its first quarter ended March 31, 2023.\n\n \n \n \n \n \n \n\n \n\"We are pleased with our execution in the first quarter, with 33% year-over-year revenue growth, continued customer growth, and increased multi-product adoption by our customers,\" said Olivier Pomel, co-founder and CEO of Datadog.\nPomel added, \"We continue to deliver innovation to our customers, including the recent launch of our Data Streams Monitoring and Application Vulnerability Management products. With our broadening observability and security platform, our customers can monitor, manage, secure, and drive value from their complex and ephemeral cloud environments.\"\nFirst Quarter 2023 Financial Highlights:\nRevenue was $481.7 million, an increase of 33% year-over-year.GAAP operating loss was $(35.0) million; GAAP operating margin was (7)%.Non-GAAP operating income was $86.4 million; non-GAAP operating margin was 18%.GAAP net loss per diluted share was $(0.08); non-GAAP net income per diluted share was $0.28.Operating cash flow was $133.8 million, with free cash flow of $116.3 million.Cash, cash equivalents, and marketable securities were $2.0 billion as of March 31, 2023.First Quarter & Recent Business Highlights:\nAs of March 31, 2023, we had about 2,910 customers with ARR of $100,000 or more, an increase of 29% from about 2,250 as of March 31, 2022.Announced the general availability of Data Streams Monitoring, which makes it easier for organizations to track and manage the performance of event-driven applications that rely on technologies like Kafka and RabbitMQ to transfer data. Data Streams Monitoring is the first and only solution that automatically visualizes all interdependencies and key health metrics across all streaming data pipelines.Released the 2023 State of Application Security Report. To better understand the current vulnerabilities and threats targeting DevOps organizations, researchers evaluated real-world data from thousands of Datado...