Datadog Shares Soar On Q3 Beat, Raised FY21 Outlook - Datadog (NASDAQ:DDOG)

Datadog Inc DDOG reported third-quarter FY21 revenue growth of 75% year-on-year to $270.5 million, beating the consensus of $247.7 million.
As of September 30, 2021, Datadog had 1,800 customers with an ARR of $100,000 or more, an increase of 66% Y/Y.
The non-GAAP gross margin contracted 100 bps to 78%. The non-GAAP operating margin expanded 700 bps to 16%.
Non-GAAP EPS of $0.13 beat the consensus of $0.06.
"With ten new products and major features announced at our annual user conference, Dash, we are continuing to innovate at a rapid pace," said Olivier Pomel, co-founder and CEO of Datadog.
Datadog held cash and equivalents of $1.5 billion as of September 30, 2021.
Outlook: Datadog sees Q4 revenue of $290 million - $292 million, above the consensus of $263.3 million. It sees non-GAAP EPS of $0.11 - $0.12, above the consensus of $0.06.
Datadog sees FY21 revenue of $993 million - $995 million (prior view $938 million - $944 million), above the consensus of $943.4 million. It sees non-GAAP EPS of $0.39 - $0.40 (prior view $0.26 - $0.28), above the consensus of $0.28.
Price Action: DDOG shares traded higher by 16.8% at $195 in the premarket session on the last check Friday.