(866) 329-4466IR@datadog.com, Martin Bergman Similarly, Datadog views acquisition related expenses as events that are not necessarily reflective of operational performance during a period. Moreover, we operate in a very competitive and rapidly changing environment. These risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (SEC), including in the section entitled “Risk Factors” in our Quarterly Report on Form 10-Q filed with the SEC on November 13, 2019. On forbes lists #5. According to Tomasz Tunguz of Redpoint Ventures, any company that's at 140% or higher is in the top decile of subscription businesses, based on a survey the firm conducted with 600 respondents. On a price-to-sales basis, Zoom, Crowdstrike and Datadog are by far the most expensive software companies across the entire market, with each valued at 39 times revenue or higher, according to FactSet. Fourth quarter revenue grew 85% year-over-year to $114 million Strong growth of larger customers, with 858 $100k+ ARR customers versus 453 a year-ago Announced Security Monitoring to break... | November 25, 2020 Consequently, non-GAAP diluted net income per share for the year ended December 31, 2019 has been calculated assuming the conversion of all outstanding shares of preferred stock into shares of Class B common stock. Cloud 100 2019 Dropped off in 2020. “The quarter closes an excellent year, in which we generated 83% revenue growth and approximately breakeven free cash flow. Revenue $ 154,675 $ 95,864 $ 425,935 $ 249,136. This press release and the earnings call referencing this press release contain “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding Datadog’s future financial performance, including our outlook for the first quarter and for the full year of 2020. New risks emerge from time to time. Datadog, Zoom, Slack and Crowdstrike, this year's entrants, all have very high retention rates. However, in some cases where they have separate billing terms, we may count separate divisions, segments or subsidiaries as multiple customers. — Datadog, Inc. (NASDAQ: DDOG) reported its fourth-quarter 2019 adjusted earnings of $0.03 per share versus a loss of $0.02 per share expected.— Total revenue jumped by 85% to $113.6 million versus $102.41 million expected. In Q1 2019, Datadog had 508 of these large customers, for … Continued product innovations, including enhanced APM functionality, deeper visibility into containers and serverless environments, and enhanced machine learning capabilities. See insights on Datadog including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. Datadog believes they are useful to investors, as a supplement to GAAP measures, in evaluating its operational performance, as further discussed below. Datadog does experience seasonality and typically wins more new customers and renewals in the fourth quarter. We want to hear from you. It's just the latest sign that public market investors are hungry and willing to pay up for high-growth technology companies as long as the financials make sense, even as they shun cash-burning consumer businesses like Uber, Lyft and WeWork. 2017 2018 2019 5-year trend; Sales/Revenue --100.76M: 198.08M: 362.78M Datadog Announces Fourth Quarter and Full Year 2019 Results, Income (loss) before provision for income taxes. RECONCILIATION OF CASH, CASH EQUIVALENTS AND RESTRICTED CASH WITHIN THE CONSOLIDATED BALANCE SHEETS TO THE AMOUNTS SHOWN IN THE STATEMENTS OF CASH FLOWS ABOVE: Restricted cash – Including amounts in prepaid expense and other current assets and other assets, Total cash, cash equivalents and restricted cash, Plus: Amortization of acquired intangibles, Less: Non-cash benefit related to a one-time tax adjustment, Plus: Non-cash benefit related to a one-time tax adjustment, Less: Purchases of property and equipment, Less: Capitalized software development costs, Cash, cash equivalents, restricted cash, and marketable securities were. Datadog recorded retention in its latest quarter of 151% — a customer that spent $100 a year earlier is now shelling out $151. Over the last four quarters, Datadog, Inc.'s revenue has grown by 85.9%. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Nine Months. Announced the general availability of Real User Monitoring (RUM). According to Gartner, the global market for public cloud services will climb 17.5% this year to $214.3 billion. Specifically, in Q3 2020's revenue was $154.7M; in Q2 2020, it was $140M; in Q3 2019, it was $95.9M; in Q2 2019, Datadog, Inc.'s revenue … Datadog Communications “We are very pleased with our fourth quarter performance, which was highlighted by 85% year-over-year revenue growth, and very strong platform adoption,” said Olivier Pomel, co-founder and CEO of Datadog. As a result of Datadog’s initial public offering, all outstanding shares of preferred stock were automatically converted into shares of Class B common stock. We accelerated our pace of innovation throughout 2019, including the fourth quarter announcement of Security Monitoring to break down the silos between developer, operations, and security teams. Ended September 30, Ended September 30, 2020. "There are 100 cloud categories that can do $1b in annual revenues," Lemkin wrote in a message. While these intangible assets are evaluated for impairment regularly, amortization of the cost of purchased intangibles is an expense that is not typically affected by operations during any particular period. It is principally aimed at aligning their interests with those of its stockholders and at long-term retention, rather than to address operational performance for any particular period. "In our view, MSFT's competing Teams service significantly reduces WORK's pricing power and limits the enterprise penetration opportunity," wrote Gregg Moskowitz, an analyst at Mizuho Securities, in a report on Sept. 12. Datadog recorded a contingent payroll tax liability in conjunction with a common stock repurchase transaction in 2015. Fiscal year is January-December. The company in Q4 added a record 1,000 net new customers, almost twice as many as in the year-ago quarter. Follow @CNBCtech on Twitter for the latest tech industry news. Datadog's revenue increased 82% to $83 million in the quarter that ended in June, putting it right up there with its 2019 peers. Three Months Six Months Ended June 30, Ended June 30, 2020 2019 2020 2019 Revenue $ 140,012 $ 83,222 $ 271,260 $ 153,272 "Datadog is no exception.". Celebration at the Nasdaq during the Datadog IPO, September 19, 2019. According to studies, the infrastructure monitoring and application performance management (APM) markets in which Datadog competes will grow annually by 6.6% and 11.84%, respectively, over the next several years. We disclaim any obligation to update forward-looking statements. The 2019 class is particularly attractive to investors because the biggest of them show extremely high customer retention rates, meaning that they're very efficient with their sales and marketing dollars. You should not rely on the revenue growth of any prior quarterly or annual period as an indication of our future performance. Datadog defines non-GAAP gross profit, non-GAAP operating expenses (sales and marketing, research and development, general and administrative), non-GAAP gross margin, non-GAAP operating margin, non-GAAP operating income (loss) and non-GAAP net income (loss) as the respective GAAP balances, adjusted for, as applicable: (1) stock-based compensation expense; (2) the amortization of purchased intangibles and (3) non-cash benefit related to a one-time tax adjustment. Our Simple Network Management Protocol (SNMP) integration, a component of NPM, is available in beta and extends visibility to physical network devices. All good ones at least.". At end of Q2, Datadog had 1,015 customers with ARR of $100k or more. ... Last week, Datadog reported Q4 revenue jumped 84%. In the first quarter of 2020, revenue increased by 87% year-over-year as the number of large customers (with an annual run rate of US$100,000 or more) surged to 960 from … How fast is Datadog growing? The company reported robust 79% annual revenue growth for the first half of 2019. Datadog annual net income for 2017 was $-0.003B, … The new crop brings to 16 the total number of cloud software companies in the 11-digit club. Videoconferencing company Zoom, chat app Slack, and cybersecurity vendor Crowdstrike are the three others. (866) 329-4466Press@datadog.com. The stock opened up with an IPO price of $27 before climbing 39% at the end of its first trading day. As of Sep 11, 2019. This represents an increase of 71% from 594 at end of Q2 2019. Datadog annual net income for 2018 was $-0.011B, a 318.75% increase from 2017. We define ARR as the annualized revenue run-rate of subscription agreements from all customers at a point in time. Fourth quarter revenue grew 85% year-over-year to $114 million, Strong growth of larger customers, with 858 $100k+ ARR customers versus 453 a year-ago, Announced Security Monitoring to break the silos between security, dev, and ops, Launched Network Performance Monitoring and Real User Monitoring. Eventually, early investors are going to want to lock in some gains, creating the potential for a flood of new shares on the market and a corresponding price drop. A Division of NBCUniversal. The software-as-a-service (SaaS) company saw its revenue grow by 98% and 83% in 2018 and 2019 respectively. Condensed Consolidated Statements of Operations, (In thousands, except per share data; unaudited), Condensed Consolidated Statements of Cash Flow, Reconciliation from GAAP to Non-GAAP Results, Reconciliation of GAAP Cash Flow from Operating Activities to Free Cash Flow, AJ Ljubich, CFA At end of Q1, Datadog had 960 customers with greater than $100k of ARR, generating sequential growth of 5.7%. Amortization of purchased intangibles and transaction costs related to acquisition. Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of discounts or premiums on marketable securities, Stock-based compensation, net of amounts capitalized, Provision for accounts receivable allowance, Loss on disposal of property and equipment. Subscription agreements are primarily monthly or annual, with some quarterly, semi-annual and multi-year. 2019. Datadog had its initial public offering on September 10, 2019. Operating Metrics All new products are available in the same tightly integrated platform, offering the benefits of metrics, traces, and logs in one place with cross-correlations between them. Try it for free. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Non-GAAP operating income between $48.5 and $50.5 million. Fourth Quarter 2019 Financial Highlights: Fourth Quarter & Recent Business Highlights: First Quarter and Full Year 2020 Outlook: Based on information as of today, February 13, 2020, Datadog is providing the following guidance for the first quarter and full year 2020: Datadog has not reconciled its expectations as to non-GAAP operating loss, or as to non-GAAP net loss per share, to their most directly comparable GAAP measure as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation and employer payroll taxes on equity incentive plans. Image source: The Motley Fool. Crowdstrike reported a retention rate of 147% as of January, Slack's was 143% and Zoom was at 140%. Assumed preferred stock conversion. Revenue between $588 million and $590 million. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In light of these risks, uncertainties and assumptions, we cannot guarantee future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. We calculate ARR by taking the monthly recurring revenue, or MRR, and multiplying it by 12. Announced Security Monitoring, currently available in beta, to break down the silos between security, dev, and ops. Zoom posted 96% growth in its most recent quarter, just ahead of Crowdstrike at 94%. Slack chose the direct listing route, so investors could sell right away, and they've been doing plenty of it since the debut in June. As of December 31, 2019, we had 858 customers with ARR of $100,000 or more, an increase of 89% from 453 as of December 31, 2018. An extension of our user experience monitoring suite, RUM provides real-time visibility into the experience of individual users, in order to quickly spot and correct otherwise costly website performance issues. Datadog net income for the twelve months ending June 30, 2020 was $0.003B, a 119.28% decline year-over-year. Changes in operating assets and liabilities: Net cash provided by (used in) operating activities, Cash paid for acquisition of businesses; net of cash acquired, Proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs, Net cash (used in) provided by financing activities, Effect of exchange rate changes on cash, cash equivalents and restricted cash, NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH, CASH, CASH EQUIVALENTS AND RESTRICTED CASH—Beginning of period, CASH, CASH EQUIVALENTS AND RESTRICTED CASH—End of period. Datadog is a registered trademark of Datadog, Inc. All product and company names herein may be trademarks of their registered owners. We define the number of customers as the number of accounts with a unique account identifier for which we have an active subscription in the period indicated. In addition, there are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP and may be different from non-GAAP financial measures used by other companies and exclude expenses that may have a material impact on Datadog’s reported financial results. Data is a real-time snapshot *Data is delayed at least 15 minutes. Datadog does not believe this is reflective of on-going results and therefore adjusted for this benefit. MRR is defined as the revenue run-rate of subscription agreements from all customers for the last month of the period, including committed amounts and any additional usage. We are proud of what we have accomplished this year and remain committed to delivering continued innovation to solve our customer pain points.”. The stock is below its $26 reference price and has lost one-fifth of its value in the past three weeks, although at least some of that can be attributed to Microsoft's renewed effort to take on Slack with its Teams product. Moskowitz initiated the stock with the equivalent of a hold rating and said, "meaningful multiple expansion will likely require excellent execution. That money is being spread across many areas, including productivity apps, developer tools, security and backend infrastructure. Datadog’s non-GAAP financial measures may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to non-recurring and unusual items. Three Months. Weighted average shares used in calculating net income (loss) per share: Accounts receivable, net of allowance for doubtful accounts of $817 and $477 as of December 31, 2019 and December 31, 2018, respectively, Prepaid expenses and other current assets, Accrued expenses and other current liabilities, TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT). See metrics from all of your apps, tools & services in one place with Datadog's cloud monitoring as a service solution. Additionally, Datadog’s management believes that the non-GAAP financial measure free cash flow is meaningful to investors because management reviews cash flows generated from operations after taking into consideration capital expenditures and the capitalization of software development costs due to the fact that these expenditures are considered to be a necessary component of ongoing operations. Datadog's revenue rose 83% to $362.8 million in 2019, but its net loss widened from $10.8 million to $16.7 million. Datadog views amortization of purchased intangible assets as items arising from pre-acquisition activities determined at the time of an acquisition. This nice run includes a 110% climb in the past six months as the monitoring and security platform showcased strong growth within the broader … ", WATCH: Crowdstrike CEO says upstart competitors don't worry him. Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring and log management to provide unified, real-time observability of our customers’ entire technology stack. Datadog annual revenue for 2019 was $0.363B, a 83.15% increase from … "Recently, we've seen a series of product-driven companies building huge customer bases with tremendous account expansion and terrific sales efficiency," Tunguz wrote in a post on Aug. 26, about Datadog's IPO filing. Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations and business teams, accelerate time to market for applications, reduce time to problem resolution, understand user behavior and track key business metrics. Datadog went public in September 2019 and its stock price has climbed roughly 170% since then, which blows away the Computer Software Services Market’s 34% average. Datadog's annual revenues are $100-$500 million (see exact revenue data) and has 500-1,000 employees. "All the IPOs are on track to get that. Datadog utilizes stock-based compensation to attract and retain employees. These forward-looking statements are based on Datadog’s current assumptions, expectations and beliefs and are subject to substantial risks, uncertainties, assumptions and changes in circumstances that may cause Datadog’s actual results, performance or achievements to differ materially from those expressed or implied in any forward-looking statement. 2019. Datadog became the fourth cloud software company to debut this year and reach a $10 billion valuation. Datadog sells products that monitor and analyze every element of cloud-based and in-house IT (Information Technology) infrastructure. Management believes these non-GAAP financial measures are useful to investors and others in assessing Datadog’s operating performance due to the following factors: Stock-based compensation and amortization of stock-based compensation capitalized in software development costs. Additional information will be made available in our Annual Report on Form 10-K for the year ended December 31, 2019 and other filings and reports that we may file from time to time with the SEC. In the first 6 months of 2019, ~60% of Datadog’s increase in revenue was attributable to … Non-cash benefit related to one-time tax adjustment. Accordingly, 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. Crowdstrike CEO speaks with Jim Cramer on cybersecurity and the company's stock, Crowdstrike CEO says upstart competitors don't worry him. No other year accounts for more than two cloud companies in the 11-digit club. ET Contents: Prepared Remarks. Last week, Datadog reported Q4 revenue jumped 84%. Crowdstrike's expiration is set for December. Datadog scored highest among all vendors in the strategy category. Slack was a relative laggard at 58%. Datadog Investor Relations Source: Datadog IPO prospectus. About DatadogDatadog is the monitoring and analytics platform for developers, IT operations teams and business users in the cloud age. Datadog is a monitoring service for cloud-scale applications, providing monitoring of servers, databases, tools, and services, through a SaaS-based data analytics platform. All values USD millions. Fourth Quarter and Full Year 2019 Outlook: Based on information as of today, November 12, 2019 … About Non-GAAP Financial MeasuresDatadog discloses the following non-GAAP financial measures in this release and the earnings call referencing this press release: non-GAAP operating income (loss), non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses (sales and marketing, research and development, general and administrative), non-GAAP operating margin, non-GAAP net income (loss), non-GAAP net income (loss) per diluted share, non-GAAP net income (loss) per basic share, and free cash flow. Jason Lemkin, an investor at SaaStr, sees the cloud market continuously opening up to more categories, expanding the overall pie. While 14 of those companies have gone public since the beginning of 2012, this is the first year with more than two that reached $10 billion in value. We are delivering very strong growth at scale, and have demonstrated robust operating efficiencies.”, Pomel added, “Datadog has established itself as the leading monitoring and analytics platform. This program is available for Managed Service Providers, System Integrators. Forward-Looking Statements Datadog's revenue increased 82% to $83 million in the quarter that ended in June, putting it right up there with its 2019 peers. 'S entrants, all have very high retention comes high multiples — and more at Craft income between 48.5... A service solution are $ 100- $ 500 million ( see exact revenue Data ) and has 500-1,000 employees visibility... Quarter, just ahead of Crowdstrike at 94 % Feb 13, 2020, 5:00 p.m for developers, operations... Across many areas, including enhanced APM functionality, deeper visibility into containers and environments! Greater than $ 100k of ARR, generating sequential growth of any prior quarterly or annual, with quarterly! 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