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- Datadog, Inc DDOG reported first-quarter FY23 income progress of 33% year-on-year to $481.7 million, beating the consensus of $468.3 million.
- As of March 31, Datadog had 2,910 prospects with an ARR of $100,000 or extra, growing 29% Y/Y.
- The non-GAAP gross margin remained agency at 80%. The non-GAAP working margin decreased by 500 bps to 18%.
- Non-GAAP EPS of $0.28 beat the consensus of $0.24.
- Datadog held money and equivalents of $2 billion and generated $116.3 million in free money stream.
- “We’re happy with our execution within the first quarter, with 33% year-over-year income progress, continued buyer progress, and elevated multi-product adoption by our prospects,” stated Olivier Pomel, co-founder and CEO of Datadog.
- Outlook: Datadog sees Q2 income of $498 million – $502 million versus the consensus of $500.69 million. It sees non-GAAP EPS of $0.27 – $0.29 versus the consensus of $0.26.
- Datadog lifted FY23 income to $2.08 billion – $2.10 billion, up from $2.07 billion – $2.09 billion versus the consensus of $2.09 billion. It raised non-GAAP EPS to $1.13 – $1.20, up from $1.02 – $1.09 versus the consensus of $1.08.
- Worth Motion: DDOG shares traded increased by 6.70% at $70.25 premarket on the final verify Thursday.
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