Datadog, the monitoring and security platform for cloud applications, announced financial results and key achievements for its second quarter ended June 30, 2024.
Olivier Pomel, co-founder and CEO of Datadog, said: “At our DASH 2024 user conference, we announced dozens of new products and capabilities, delivering innovations to help our customers observe their environments, secure their infrastructures and workloads, and act to remediate problems before they affect users.”
Datadog’s second-quarter revenue was $645 million (up 27 percent).
Datadog is targeting revenue of $660 million – $664 million for third-quarter.
Datadog is targeting revenue of $2.62 billion – $2.63 billion in 2024.
Datadog has about 28,700 customers, up from about 26,100 a year ago. Datadog has about 3,390 customers with an ARR of $100,000 or more, up from about 2,990 last year. Datadog’s main customers generated about 87 percent of its ARR.
Datadog said 83 percent of customers are using two or more products, up from 82 percent a year ago. 49 percent of customers are using four or more products, up from 45 percent a year ago. 25 percent of customers are using six or more products, up from 21 percent a year ago. 11 percent of customers are using eight or more products, up from 7 percent a year ago.
Datadog said 2,500 customers use one or more of AI integrations to get visibility into their increasing use of AI. AI-native customers increased to over 4 percent of ARR in June.
RECENT INITIATIVES
Datadog announced the appointment of Yanbing Li as Chief Product Officer. Yanbing Li has more than 25 years of product, technology and engineering experience, having led global engineering, operations and infrastructure teams at Aurora, Google and VMware.
Datadog announced the appointment of David Galloreese as Chief People Officer. David Galloreese has more than 20 years of human resources experience at tech companies and large-scale, high visibility brands, like Figma, Wells Fargo, and Walmart.
Datadog added Agentless Scanning, Data Security and Code Security, which allow security teams to easily secure their code, cloud environments and production applications.
Datadog launched Live Debugger, a new tool that enables developers to step through code in production environments and find the exact root cause of coding errors.
Datadog also announced a unified experience integrating the Datadog Agent and OpenTelemetry Collector — enabling customers to use Datadog’s supported Agent while accessing the complete capabilities of the OpenTelemetry Collector.
