Datadog, Inc. announced its third quarter financial results for 2024 on November 7, 2024, reporting revenue of $690 million, a 26% increase year-over-year. This figure surpassed analyst expectations of $662.6 million. The company also reported non-GAAP net income of $0.46 per share, exceeding the average estimate of $0.39 per share.
The company saw robust growth in its larger customer base, with approximately 3,490 customers generating $100,000 or more in Annual Recurring Revenue (ARR), an increase from about 3,130 a year ago. Datadog also announced the general availability of its Monitoring for Oracle Cloud Infrastructure, expanding its platform capabilities.
For the fourth quarter of 2024, Datadog provided guidance expecting revenue between $711 million and $715 million, and non-GAAP operating income between $130 million and $134 million. The full-year 2024 revenue guidance was raised to a range of $2.785 billion to $2.789 billion, reflecting confidence in accelerating demand for its AI-backed cybersecurity products, despite some market commentary noting that the revenue guidance met expectations rather than significantly exceeding them.
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