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Sep 30, 2024
Datadog Q3 2024 Earnings Report
Datadog's Q3 2024 financial results were announced, revealing robust revenue growth and continued expansion of the customer base.
Key Takeaways
Datadog reported a 26% year-over-year increase in revenue, reaching $690 million in Q3 2024. The company's GAAP operating income was $20 million, and non-GAAP operating income was $173 million. Datadog continues to expand its platform and customer base, with a notable increase in customers with ARR of $100,000 or more.
Revenue increased by 26% year-over-year, reaching $690 million.
GAAP operating income stood at $20 million, with a 3% operating margin.
Non-GAAP operating income was $173 million, resulting in a 25% operating margin.
The number of customers with ARR of $100,000 or more grew by 12% year-over-year, totaling approximately 3,490.
Forward Guidance
Datadog provided its outlook for the fourth quarter and full year 2024, anticipating continued revenue growth and strong non-GAAP operating income.
Positive Outlook
- Fourth quarter revenue is expected to be between $709 million and $713 million.
- Fourth quarter non-GAAP operating income is projected to be between $163 million and $167 million.
- Fourth quarter non-GAAP net income per share is estimated to be between $0.42 and $0.44, assuming approximately 361 million weighted average diluted shares outstanding.
- Full year 2024 revenue is anticipated to be between $2.656 billion and $2.660 billion.
- Full year 2024 non-GAAP operating income is expected to be between $658 million and $662 million.
Challenges Ahead
- Uncertainty regarding reconciling items such as stock-based compensation.
- Uncertainty regarding employer payroll taxes on equity incentive plans.
- Potential variability of reconciling items.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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