Datadog Inc · Q1 2024 earnings

Briefing

Datadog demonstrated solid execution in Q1 2024, achieving 27% year-over-year revenue growth and continuous product innovation.

Datadog announced its Q1 2024 financial results, reporting a 27% year-over-year revenue increase to $611 million. The company's growth was supported by a strong increase in larger customers and continued product innovation.

• Revenue was $611 million, an increase of 27% year-over-year.
• GAAP operating income was $12 million, with a GAAP operating margin of 2%.
• Non-GAAP operating income was $164 million, resulting in a non-GAAP operating margin of 27%.
• Operating cash flow reached $212 million, with free cash flow of $187 million.

Headline financials

Revenue & EPS history

Datadog is providing the following guidance: Second Quarter 2024 Outlook: Revenue between $620 million and $624 million. Non-GAAP operating income between $134 million and $138 million. Non-GAAP net income per share between $0.34 and $0.36, assuming approximately 360 million weighted average diluted shares outstanding. Full Year 2024 Outlook: Revenue between $2.59 billion and $2.61 billion. Non-GAAP operating income between $585 million and $605 million. Non-GAAP net income per share between $1.51 and $1.57, assuming approximately 361 million weighted average diluted shares outstanding.