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Datadog | 10-K: Annual report

SEC announcement ·  Feb 23 08:39
Summary by Moomoo AI
Datadog, a leading observability and security platform for cloud applications, has reported significant financial growth for the fiscal year ended December 31, 2023. The company's revenue surged to $2.13 billion, marking a 27% increase from the previous year's $1.68 billion. This growth was attributed to a combination of new customer acquisitions and expansion within the existing customer base. Despite the challenging macroeconomic environment, Datadog's operating cash flow also saw a substantial rise to $660 million, up from $418.4 million in the previous year. The company's net income turned positive, reaching $48.6 million, a notable recovery from the previous year's net loss of $50.2 million. In terms of business development, Datadog's platform has been widely adopted across various industries, driving digital transformation and cloud...Show More
Datadog, a leading observability and security platform for cloud applications, has reported significant financial growth for the fiscal year ended December 31, 2023. The company's revenue surged to $2.13 billion, marking a 27% increase from the previous year's $1.68 billion. This growth was attributed to a combination of new customer acquisitions and expansion within the existing customer base. Despite the challenging macroeconomic environment, Datadog's operating cash flow also saw a substantial rise to $660 million, up from $418.4 million in the previous year. The company's net income turned positive, reaching $48.6 million, a notable recovery from the previous year's net loss of $50.2 million. In terms of business development, Datadog's platform has been widely adopted across various industries, driving digital transformation and cloud migration. The company's land-and-expand business model has proven successful, with approximately 27,300 customers by the end of 2023, up from 23,200 in the previous year. Datadog's platform is now used by a significant number of customers with an annual run-rate revenue of $100,000 or more, indicating a strong expansion of product adoption. Looking ahead, Datadog plans to continue investing in sales and marketing to drive new customer acquisition and increase brand awareness. The company also aims to sustain innovation and technology leadership by investing in its platform and expanding its product offerings. Internationally, Datadog sees a significant opportunity for growth, particularly in the EMEA and APAC regions, and intends to make strategic investments to capitalize on these markets.

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