- Datadog, Inc (NASDAQ: DDOG) reported second-quarter FY22 revenue growth of 74% year-on-year to $406.1 million, beating the consensus of $379.4 million.
- As of June 30, Datadog had 2,420 customers with an ARR of $100,000 or more, increasing 54% Y/Y.
- The non-GAAP gross margin expanded 500 bps to 81%. The non-GAAP operating margin expanded by 800 bps to 21%.
- Non-GAAP EPS of $0.24 beat the consensus of $0.15.
- Datadog held cash and equivalents of $1.7 billion and generated $73 million in operating cash flow and $60.2 million in free cash flow.
- Outlook: Datadog sees Q3 revenue of $410 million - $414 million, versus the consensus of $412.1 million. It sees non-GAAP EPS of $0.15 - $0.17 versus the consensus of $0.16.
- Datadog raised FY22 revenue outlook from $1.60 billion - $1.62 billion to $1.61 billion - $1.63 billion versus the consensus of $1.62 billion. It increased non-GAAP EPS guidance from $0.70 - $0.77 to $0.74 - $0.81 versus the consensus of $0.75.
- Price Action: DDOG shares traded lower by 4.55% at $107.30 in the premarket on the last check Thursday.
Read at Benzinga