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Mar 31, 2022
Datadog Q1 2022 Earnings Report
Reported strong first quarter results with 83% year-over-year revenue growth and strong profitability.
Key Takeaways
Datadog's first quarter 2022 financial results showed strong revenue growth of 83% year-over-year, reaching $363 million. The company also saw strong growth in larger customers and launched the Application Security Monitoring product.
Revenue was $363.0 million, an increase of 83% year-over-year.
GAAP operating income was $10.4 million; GAAP operating margin was 3%.
Non-GAAP operating income was $83.7 million; non-GAAP operating margin was 23%.
As of March 31, 2022, Datadog had about 2,250 customers with ARR of $100,000 or more, an increase of 60% from 1,406 as of March 31, 2021.
Forward Guidance
Datadog is providing the following guidance: Second Quarter 2022 Revenue between $376 million and $380 million. Full Year 2022 Revenue between $1.60 billion and $1.62 billion.
Positive Outlook
- Second Quarter 2022 Revenue between $376 million and $380 million.
- Second Quarter 2022 Non-GAAP operating income between $49 million and $53 million.
- Second Quarter 2022 Non-GAAP net income per share between $0.13 and $0.15, assuming approximately 347 million weighted average diluted shares outstanding.
- Full Year 2022 Revenue between $1.60 billion and $1.62 billion.
- Full Year 2022 Non-GAAP operating income between $240 million and $260 million.
Challenges Ahead
- Datadog has not reconciled its expectations as to non-GAAP operating income, or as to non-GAAP net income per share, to their most directly comparable GAAP measure as a result of uncertainty regarding reconciling items.
- Reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to Datadog’s results computed in accordance with GAAP.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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