NASDAQ: DDOG · CIK 0001561550 · IPO 2019-09-19 · FY ends Dec 31
Datadog Financials
Revenue, customer-tier counts, net retention, free cash flow margin, and the AI-lab customer-concentration disclosure trail (the “OpenAI scaling-down” story that became public on the May 2024 Q1 print) — for Datadog (NASDAQ: DDOG), the pure-play observability SaaS founded in 2010 by Olivier Pomel and Alexis Lê-Quôc and IPO'd September 2019. Hand-curated from SEC 10-K filings; live stock chart via TradingView.
Key metrics
Revenue (FY2025)
$3.43B
+28% YoY
Customers >$100K ARR
4,310
~90% of ARR
Net retention
~120%
precise framing
FCF margin (FY2025)
29.2%
$1,000M FCF
Founder-led since 2010
Datadog is one of the few large-cap public SaaS companies still founder-led 15+ years after founding. Both Pomel (CEO) and Lê-Quôc (CTO) remain in their original roles as of 2026. Olivier Pomel (Co-founder and CEO) and Alexis Lê-Quôc (Co-founder and CTO) have remained in their original roles since founding the company in 2010.
Stock price (DDOG)
Live current price plus a five-year history. Updates during US market hours (9:30 a.m. – 4:00 p.m. Eastern, Monday – Friday) via TradingView's embed widget.
Filings Frontier
Direct links into the SEC EDGAR record for Datadog (CIK 0001561550). Use the EDGAR list views to navigate to the most recent filing of each form.
Earnings Reaction History
Eight-quarter sliding window. The Q1 2024 print is where the AI-lab customer-concentration deceleration first showed up publicly. Pre-print run-up is the 30-trading-day return ending the day before the print; one-day move is print-day open-to-close; five-day move is the next five trading days from the pre-print baseline.
| Q2 2024 | $638M | $645M | $0.39 | $0.43 | -9.3% | -0.9% | +7.7% |
| Q3 2024 | $666M | $690M | $0.41 | $0.46 | +10.6% | +2.3% | +2.4% |
| Q4 2024 | $711M | $738M | $0.43 | $0.49 | +1.4% | -0.5% | -19.2% |
| Q1 2025 | $739M | $762M | $0.42 | $0.46 | +0.6% | +1.3% | +11.0% |
| Q2 2025 | $803M | $827M | $0.45 | $0.46 | +4.7% | -7.7% | -9.1% |
| Q3 2025 | $862M | $886M | $0.49 | $0.55 | +13.5% | +6.7% | +20.0% |
| Q4 2025 | $906M | $953M | $0.52 | $0.59 | -17.4% | +4.4% | +6.8% |
| Q1 2026 | $985M | $1.01B | $0.55 | $0.60 | +17.2% | +0.4% | +41.1% |
In-flight rows (pending refresh) are appended ahead of each upcoming print with consensus and 30-day run-up populated; the actuals and post-print stock moves fill in once the print airs and the post-print prices settle.
Annual revenue (FY2018 onward)
Hand-curated from each fiscal year's 10-K, in USD millions. Datadog's fiscal year ends December 31; FY2025 = calendar year 2025. The FY2023→FY2024 line and the FY2024→FY2025 line both reflect the AI-lab customer-concentration deceleration that became public on the Q1 2024 print.
| Fiscal year | Revenue | YoY growth |
|---|---|---|
| FY2018 | $198M | +97% |
| FY2019 | $363M | +83% |
| FY2020 | $603M | +66% |
| FY2021 | $1.03B | +70% |
| FY2022 | $1.68B | +63% |
| FY2023 | $2.13B | +27% |
| FY2024 | $2.68B | +26% |
| FY2025 | $3.43B | +28% |
Quarterly revenue (last 12 quarters)
The Q1 2024 print is where the AI-lab customer-concentration deceleration first showed up publicly. The YoY-growth line below traces the 33% Q1 2023 → 25% Q4 2024 deceleration arc and the modest Q2–Q4 2025 re-acceleration.
YoY revenue growth %
AI-lab customer concentration — the OpenAI disclosure trail
Datadog has disclosed in successive 10-K Risk Factors and discussed on successive earnings calls that a small number of large AI-native customers accounted for a meaningful portion of its growth, and that one such customer's decision in early 2024 to scale down and partially re-platform its observability stack onto internal tooling drove the public growth deceleration that began on the Q1 2024 print (May 7, 2024). The FY2025 10-K (filed February 18, 2026) tightens the disclosure language considerably: it now names an ‘AI-native cohort’ distinct from the prior ‘cloud-native cohort’, calls out that the cohort ‘includes our largest customer’, and quantifies that customer's contribution as approximately seven percentage points of the year-over-year revenue growth for the quarter ended December 31, 2025. The customer is widely understood, and was confirmed in earnings-call discussion, to be OpenAI; Datadog itself still does not name the customer in its Risk Factors language.
“Certain customers and cohorts of customers in specific industries have or in the future may increase usage of our product and then seek to optimize their usage, renew their subscriptions on terms less favorable to us, or not renew their subscriptions, which may result in revenue volatility. For example, in prior periods customers in our cloud-native cohort, and more recently larger customers in our AI-native cohort, which cohort includes our largest customer and represented approximately seven percentage points of our year-over-year revenue growth for the quarter ended December 31, 2025, have rapidly increased their usage of our product and then optimized or may in the future optimize their usage or fail to renew their subscriptions.”
Disclosure-trail timeline
- 2023-08-08Q2 2023 earnings — first commentary on usage optimization by 'a few of our largest customers' (Pomel on the call); stock fell ~17% in the next two trading sessions on the broader 'cloud usage optimization' read.
- 2024-02-23FY2023 10-K filed — Risk Factors first explicitly added the AI-customer-concentration language about 'cloud-native and AI-related industries'.
- 2024-05-07Q1 2024 earnings print — revenue beat but Q2 guide cut; Pomel acknowledged on the call that a single large AI-native customer had begun scaling down. Stock dropped ~10–15% on the print and into the next day.
- 2025-02-20FY2024 10-K filed — Risk Factors language refined; specific reference to 'optimization decisions' by named customers in the prior year.
- 2025-08-07Q2 2025 earnings — first quarter back to ~28% YoY growth as AI-lab customer base stabilized; Pomel attributed re-acceleration to broader AI workload deployment beyond the single large customer.
- 2026-02-10Q4 2025 earnings print — Pomel called out that AI-native customers were again the largest driver of growth and that the single largest customer was scaling back up.
- 2026-02-18FY2025 10-K filed — Risk Factors language tightens: an 'AI-native cohort' is now named distinct from the cloud-native cohort, the cohort 'includes our largest customer', and that customer's contribution is quantified as ~7 percentage points of Q4 2025 YoY revenue growth. Current verbatim text is the quote shown above.
- 2026-05-07Q1 2026 earnings print — revenue accelerated to 32% YoY ($1,006M), the strongest growth print since the AI-lab deceleration began; stock opened ~31% above the prior-day close.
The page reports what Datadog filings and earnings-call transcripts say. The customer's identity is not named by Datadog in filings; the OpenAI association comes from contemporaneous press reporting (Bloomberg, The Information) and from Pomel's own non-naming references on the calls. The financials page does not editorialize on whether the customer will return to prior usage levels.
Customer tiers — >$100K ARR and >$1M ARR
Datadog's two canonically-disclosed customer tiers. Customers contributing $100K+ ARR is the headline KPI since IPO; customers contributing $1M+ ARR is a secondary disclosure added around FY2022. Customers >$100K ARR contribute approximately 90% of total ARR per the latest 10-K. Total customer count: ~30,900.
Net dollar retention
Datadog disclosed precise NRR through Q3 2022; subsequent reports use the categorical “consistently above N%” framing, with the threshold itself shifting from 130% (through 2022) to 110% (from late 2023 onward) as the AI-lab customer scaling-down took hold. Values shown for 2023 onward are the implied midpoint of the “consistently above 110%” framing per Datadog's earnings-call guidance, not a precise disclosure.
| Period | NRR | Framing | Source |
|---|---|---|---|
| FY2019 | 146% | precise | FY2019 10-K |
| FY2020 | 130% | precise | FY2020 10-K |
| FY2021 | 130% | precise | FY2021 10-K (subsequent reports quote 'consistently above 130%') |
| FY2022 | 130% | above | FY2022 10-K — 'consistently above 130%' |
| FY2023 | 115% | above | FY2023 10-K — language softened to 'consistently above 110%' starting Q4 2023; 115% is the implied midpoint |
| FY2024 | 118% | precise | FY2025 10-K (filed 2026-02-18) describes the 2024-12-31 trailing-12-month rate as 'high-110%'s'; 118% is the implied midpoint |
| FY2025 | 120% | precise | FY2025 10-K — 'approximately 120%' as of 2025-12-31, up from high-110%'s a year earlier |
Operating margin (GAAP and non-GAAP)
Datadog's GAAP operating margin has hovered near break-even or modestly negative across most of the post-IPO history — FY2024 was the only year meaningfully above zero (+2.0%), and FY2025 reverted to a slight loss (−1.3%) as SBC and customer-acquisition spend outpaced the revenue inflection. The non-GAAP arc tells a much cleaner story: low-teens at IPO, expanding into the low-20s by FY2024, stabilizing around 21-23% through FY2025. Non-GAAP excludes stock-based compensation, amortization of acquired intangibles, employer payroll taxes on employee equity, acquisition-related compensation, and impairment charges.
Free cash flow margin
Datadog defines free cash flow as GAAP operating cash flow less purchases of property and equipment less capitalized internal-use software development costs; the values shown subtract only PP&E capex, which is a close approximation. FCF margin expanded from ~17% in FY2020 to ~31% in FY2024, then settled to ~29% in FY2025. Datadog runs unusually lean on PP&E capex for a SaaS company — the bulk of its compute footprint sits on public clouds rather than owned data centers — which is why the capex column stays small even at $3B+ revenue.
| FY | Op cash flow | Capex | FCF | FCF margin |
|---|---|---|---|---|
| FY2020 | $109M | $5M | $104M | 17.2% |
| FY2021 | $287M | $10M | $277M | 26.9% |
| FY2022 | $418M | $35M | $383M | 22.9% |
| FY2023 | $660M | $28M | $632M | 29.7% |
| FY2024 | $871M | $35M | $836M | 31.2% |
| FY2025 | $1,050M | $50M | $1,000M | 29.2% |
Stock-based compensation as % of revenue
Datadog's SBC ratio climbed from low-teens at IPO (12% in FY2020) to the low-20s by FY2022 and has stayed in the 21–23% range through FY2025 — in line with peer pure-play SaaS but worth tracking. The line is shown for the standard “is the GAAP / non-GAAP gap reasonable” stress test.
Headcount
Year-end full-time-equivalent headcount as disclosed in each year's 10-K Item 1 (Workforce / Human Capital section). Datadog has roughly tripled headcount since IPO without crash-restructure-and-recover patterns seen at peer SaaS companies during the 2022–2023 cost cycle.
Acquisitions
Major acquisitions across Datadog's history. Most deal sizes are not disclosed at the dollar level. The cadence — multiple small tuck-ins per year — is itself informative; Datadog has built breadth largely through small acquisitions integrated quickly into the unified platform rather than through transformational large deals.
| Date | Target | Deal size | Kind | Rolled into |
|---|---|---|---|---|
| 2017-10-25 | Logmatic.io | — | log management | Logs |
| 2018-04-12 | Cloudcraft | — | cloud architecture diagrams | Cloud Cost Management / CSPM |
| 2019-07-08 | Madumbo | — | AI-powered application testing | Synthetic Monitoring |
| 2021-02-04 | Sqreen | $65M | application security | ASM (Application Security Management) |
| 2021-09-30 | Timber | — | structured logging | Logs |
| 2021-10-13 | CoScreen | — | collaborative screen sharing | Datadog for Engineering Teams |
| 2022-01-13 | Hdiv Security | — | application-security testing | ASM |
| 2024-09-01 | Squash | — | test recording / playback | Synthetic Monitoring |
| 2025-04-15 | Eppo | — | feature flagging / experimentation | Real User Monitoring + new Experimentation product |
| 2025-06-10 | Metaplane | $200M | data observability | Data Monitoring |
| 2025-08-19 | Quesma | — | search and observability ingestion | Logs / OpenSearch compatibility |
| 2026-01-28 | Propolis | — | autonomous QA testing platform | Synthetic Monitoring / Software Delivery |
Post-FY events
Events disclosed in 8-K filings or press releases since the most recent 10-K period end.
product launch · 2026-01-28
Acquired Propolis, an autonomous QA testing platform built on swarms of synthetic users to verify goal- and output-oriented application behavior; rolling into Synthetic Monitoring / Software Delivery (deal price not disclosed).
restructuring · 2026-04-21
Re-domiciliation from Delaware to Nevada approved by special meeting of stockholders; the company became a Nevada corporation on April 21, 2026.
product launch · 2026-04-22
GPU Monitoring launched at general availability — unified visibility linking GPU fleet health, cost, and performance to the teams running AI workloads (sourced from Datadog GlobeNewswire press release, 2026-04-22).
product launch · 2026-05-07
Q1 2026 print: MCP Server, Bits AI Security Agent, GPU Monitoring, and Experiments all reached general availability; Datadog Dash 2026 announced for June 9-10 at the North Javits Center in New York City.
Methodology
Every value on this page is sourced to the underlying SEC filing or earnings press release and tagged with the source filing's accession number. Values are re-verified monthly against the most recent filings; the standard income-statement and cash-flow lines are re-pulled from SEC EDGAR XBRL on each refresh.
Datadog's fiscal year is the calendar year — FY ends December 31, so FY2025 = calendar 2025 throughout the page. No fiscal-year-shift gotchas (unlike ServiceNow, Salesforce, or Apple). Last hand-verification: 2026-05-22, against the FY2025 10-K (accession 0001628280-26-008819, filed 2026-02-18).
This page is an independent reference. It is not affiliated with or endorsed by Datadog, Inc.
Sources: SEC EDGAR (CIK 0001561550), Datadog 10-K and 10-Q filings, 8-K Exhibit 99.1 earnings releases, Datadog investor-relations press releases, public earnings-call transcripts. Reaction-history stock moves computed live from Yahoo Finance. Last updated 2026-06-20 14:37 UTC.