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Datadog Gains After Customer Growth And Multi-Product Adoption Drives Q1 Beat

Datadog, Inc (NASDAQ:DDOG) reported first-quarter FY23 revenue growth of 33% year-on-year to $481.7 million, beating the consensus of $468.3 million.…
byAnusuya Lahiri
May 4, 2023
1 minute read
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  • Datadog, Inc (NASDAQ:DDOG) reported first-quarter FY23 revenue growth of 33% year-on-year to $481.7 million, beating the consensus of $468.3 million.
  • As of March 31, Datadog had 2,910 customers with an ARR of $100,000 or more, increasing 29% Y/Y.
  • The non-GAAP gross margin remained firm at 80%. The non-GAAP operating margin decreased by 500 bps to 18%.
  • Non-GAAP EPS of $0.28 beat the consensus of $0.24.
  • Datadog held cash and equivalents of $2 billion and generated $116.3 million in free cash flow.
  • “We are pleased with our execution in the first quarter, with 33% year-over-year revenue growth, continued customer growth, and increased multi-product adoption by our customers,” said Olivier Pomel, co-founder and CEO of Datadog.
  • Outlook: Datadog sees Q2 revenue 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 revenue 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.
  • Price Action: DDOG shares traded higher by 6.70% at $70.25 premarket on the last check Thursday.

 

 
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California Weed Co. Wraps Up Strategic Reorganization, This Is Unrivaled’s New Name

By Jelena Martinovic
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California cannabis company Unrivaled Brands has completed its strategic reorganisation and reversed stock split. Under the reorganisation deal, Blum Holdings is now Unrivaled Brands' parent company, and each share of its common stock has automatically converted into equivalent shares of Blüm's common stock. As part of the restructuring, Blüm's common stock will trade on the OTCQB tier of the market under the "BLMH" ticker symbol. Directors and officers of Unrivaled Brands prior to the reorganisation will serve as the directors and officers of Blüm. This milestone is part of Unrivaled Brands' growth and development strategy. In Q3 2021, the company saw an 11.4% YoY drop in revenue to $8.6m, but managed to limit its net loss to $3.4m, compared to a $119.9m net loss in the previous year.

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