- Datadog Inc (NASDAQ:DDOG) reported second-quarter FY21 revenue growth of 67% year-on-year to $233.6 million, beating the analyst consensus of $212.5 million.
- The company had 1,610 customers with an ARR of $100,000 or more, an increase of 59% Y/Y.
- The non-GAAP gross margin contracted 400 bps to 76% as the costs almost doubled. The non-GAAP operating margin expanded 200 bps to 13%.
- Non-GAAP EPS of $0.09 beat the analyst consensus of $0.03.
- Datadog generated $51.7 million in operating cash flow and held $1.4 billion in cash and equivalents.
- The company launched Cloud Security Posture Management and Cloud Workload Security products. It also announced the beta launch of the CI Visibility product, CEO Olivier Pomel stated.
- Outlook: Datadog sees Q3 revenue between $246 million - $248 million above the analyst consensus of $226 million.
- It sees non-GAAP EPS between $0.05 - $0.06 above the analyst consensus of $0.03.
- Price action: DDOG shares traded higher by 14.2% at $131.25 in the premarket session on the last check Thursday.
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