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Jun 30, 2023
Datadog Q2 2023 Earnings Report
Datadog's Q2 2023 financial results were announced, revealing a 25% year-over-year revenue increase and strong customer growth.
Key Takeaways
Datadog announced its Q2 2023 financial results, reporting a 25% year-over-year revenue growth to $509 million. The company saw strong growth in larger customers and announced innovations across various domains.
Revenue 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%.
As of June 30, 2023, Datadog had about 2,990 customers with ARR of $100,000 or more, an increase of 24% year-over-year.
Forward Guidance
Datadog is providing the following guidance: Revenue between $521 million and $525 million for Q3 2023. Non-GAAP operating income between $98 million and $102 million for Q3 2023. Non-GAAP net income per share between $0.33 and $0.35 for Q3 2023.
Positive Outlook
- Revenue between $521 million and $525 million.
- Non-GAAP operating income between $98 million and $102 million.
- Non-GAAP net income per share between $0.33 and $0.35.
- Assuming approximately 354 million weighted average diluted shares outstanding.
- Revenue between $2.05 billion and $2.06 billion for the full year 2023.
Challenges Ahead
- Uncertainty regarding reconciling items such as stock-based compensation.
- Potential variability of employer payroll taxes on equity incentive plans.
- 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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