Press release
Datadog Announces Second Quarter 2023 Financial Results
Second quarter revenue grew 25% year-over-year to $509 million Strong growth of larger customers, with about 2,990 $100k+ ARR customers, up from about 2,420 a
About this update from Datadog, Inc.
[{"type":"text","content":"Second quarter revenue grew 25% year-over-year to $509 million\nStrong growth of larger customers, with about 2,990 $100k+ ARR customers, up from about 2,420 a year ago\nAnnounced innovations for Generative AI, Observability, Security, Developer Experience, and Cost Management at DASH 2023\nNamed a Leader in the 2023 Gartner Magic Quadrant for Application Performance Monitoring and Observability\nNEW YORK, Aug. 8, 2023 /PRNewswire/ -- Datadog, Inc. (NASDAQ:DDOG), the monitoring and security platform for cloud applications, today announced financial results for its second quarter ended June 30, 2023.\n\n \n \n \n \n \n \n\n \n\"We continued to execute well in the second quarter, with 25% year-over-year revenue growth, strong new logo bookings, continued customer growth, and increased multi-product adoption by our customers,\" said Olivier Pomel, co-founder and CEO of Datadog.\nPomel added, \"Last week at our annual user conference, DASH, we announced dozens of new products and capabilities, showcasing our rapid innovation at scale. We launched new AI offerings including LLM Observability, the Bits AI assistant, and over a dozen new AI-related integrations. And we broadened our platform across Observability, Cloud Security, Developer Experience, and Cost Optimization use cases.\"\nSecond Quarter 2023 Financial Highlights:\nRevenue was $509.5 million, an increase of 25% year-over-year.GAAP operating loss was $(22.0) million; GAAP operating margin was (4)%.Non-GAAP operating income was $106.5 million; non-GAAP operating margin was 21%.GAAP net loss per diluted share was $(0.01); non-GAAP net income per diluted share was $0.36.Operating cash flow was $153.2 million, with free cash flow of $141.7 million.Cash, cash equivalents, and marketable securities were $2.2 billion as of June 30, 2023.Second Quarter & Recent Business Highlights:\nAs of June 30, 2023, we had about 2,990 customers with ARR of $100,000 or more, an increase of 24% from about 2,420 as of June 30, 2022.Announced a new Large Language Model (LLM) observability solution and over a dozen new integrations, to enable organizations building their LLM-based applications to monitor and troubleshoot Large Language Model stacks.Announced Bits AI, a new Generative AI-based assistant that learns from customers' observability data and helps engineers resolve application issues in r...