Press release
Datadog Announces Second Quarter 2024 Financial Results
Second quarter revenue grew 27% year-over-year to $645 million Strong growth of larger customers, with about 3,390 $100k+ ARR customers, up from about 2,990 a
About this update from Datadog, Inc.
[{"type":"text","content":"Second quarter revenue grew 27% year-over-year to $645 million\nStrong growth of larger customers, with about 3,390 $100k+ ARR customers, up from about 2,990 a year ago\nAnnounced general availability of LLM Observability\nAnnounced innovations for Generative AI, Observability, Cloud Security, Product Analytics, Software Delivery, and Cloud Service Management at DASH 2024\nNEW YORK, Aug. 8, 2024 /PRNewswire/ -- Datadog, Inc. (NASDAQ:DDOG), the monitoring and security platform for cloud applications, today announced financial results for its second quarter ended June 30, 2024.\n\n \n \n \n \n \n \n\n \n\"Datadog executed well in the second quarter, with 27% year-over-year revenue growth, continued customer growth, and expanding multi-product adoption across our platform,\" said Olivier Pomel, co-founder and CEO of Datadog.\nPomel added, \"At our DASH 2024 user conference, we announced dozens of new products and capabilities, delivering innovations to help our customers observe their environments, secure their infrastructures and workloads, and act to remediate problems before they affect users.\"\nSecond Quarter 2024 Financial Highlights:\nRevenue was $645 million, an increase of 27% year-over-year.GAAP operating income was $13 million; GAAP operating margin was 2%.Non-GAAP operating income was $158 million; non-GAAP operating margin was 24%.GAAP net income per diluted share was $0.12; non-GAAP net income per diluted share was $0.43.Operating cash flow was $164 million, with free cash flow of $144 million.Cash, cash equivalents, and marketable securities were $3.0 billion as of June 30, 2024.Second Quarter & Recent Business Highlights:\nAs of June 30, 2024, we had about 3,390 customers with ARR of $100,000 or more, an increase of 13% from about 2,990 as of June 30, 2023.Announced that Yanbing Li joined as Chief Product Officer. Li has more than 25 years of product, technology and engineering experience, having led global engineering, operations and infrastructure teams at Aurora, Google and VMware.Announced that David Galloreese joined as Chief People Officer. Galloreese has more than 20 years of human resources experience at tech companies and large-scale, high visibility brands, like Figma, Wells Fargo, and Walmart.Announced new additions to our security product portfolio, including Agentless Scanning, Data Security and Code Se...