Datadog Files 10-Q for Q2 2024

TL;DR

**Datadog Q2 10-Q filed. Financials look solid.**

AI Summary

Datadog, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter of 2024. Key financial data and disclosures relevant to investors are presented in this report.

Why It Matters

This filing provides investors with the official financial results and operational details for Datadog in the second quarter of 2024, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — As a technology company in a competitive market, Datadog faces inherent risks related to innovation, market adoption, and economic conditions.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
• 2024-08-09 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
• 2024 Q2 — Fiscal Quarter (Specifies the quarter of the fiscal year being reported.)

Key Players & Entities

• Datadog, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240809 (date) — Filing date
• 620 Eighth Avenue, 45th Floor (location) — Datadog's business and mailing address
• New York, NY 10018 (location) — Datadog's business and mailing address

FAQ

Key Financial Figures

• $0.00001 — stered Class A common stock, par value $0.00001 per share DDOG The Nasdaq Stock Market

Filing Documents

• ddog-20240630.htm (10-Q) — 1597KB
• ex-311x20240630x10q.htm (EX-31.1) — 11KB
• ex-312x20240630x10q.htm (EX-31.2) — 11KB
• ex-321x20240630x10q.htm (EX-32.1) — 6KB
• ex-322x20240630x10q.htm (EX-32.2) — 6KB
• 0001561550-24-000112.txt ( ) — 7614KB
• ddog-20240630.xsd (EX-101.SCH) — 42KB
• ddog-20240630_cal.xml (EX-101.CAL) — 80KB
• ddog-20240630_def.xml (EX-101.DEF) — 226KB
• ddog-20240630_lab.xml (EX-101.LAB) — 620KB
• ddog-20240630_pre.xml (EX-101.PRE) — 420KB
• ddog-20240630_htm.xml (XML) — 1127KB

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 3 0 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 3 0 , 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended June 3 0 , 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Three and Six Months Ended June 3 0 , 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 3 0 , 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements (unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION 35 Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities 61 Item 3. Defaults Upon Senior Securities 62 Item 4. Mine Safety Disclosures 62 Item 5. Other Information 62 Item 6. Exhibits 63

Signatures

Signatures 64 1 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will" or "would" or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following: our expectations regarding our revenue, expenses and other operating results; our ability to acquire new customers and successfully retain existing customers; our ability to increase usage of our platform and upsell and cross sell additional products; our ability to achieve or sustain our profitability; future investments in our business, our anticipated capital expenditures and our estimates regarding our capital requirements; the costs and success of our sales and marketing efforts, and our ability to promote our brand; our reliance on key personnel and our ability to identify, recruit and retain skilled personnel; our ability to effectively manage our growth, including any international expansion; our ability to protect our intellectual property rights and any costs associated therewith; our ability to compete effectively with existing competitors and new market entrants; the growth rates of the markets in which we compete; and the potential impact of general market, political, economic, and busine

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS DATADOG, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) (unaudited) June 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 410,963 $ 330,339 Marketable securities 2,549,143 2,252,559 Accounts receivable, net of allowance for credit losses of $ 12,902 and $ 12,096 as of June 30, 2024 and December 31, 2023, respectively 533,292 509,279 Deferred contract costs, current 49,518 44,938 Prepaid expenses and other current assets 49,174 41,022 Total current assets 3,592,090 3,178,137 Property and equipment, net 198,911 171,872 Operating lease assets 166,941 126,562 Goodwill 350,864 352,694 Intangible assets, net 5,804 9,617 Deferred contract costs, non-current 77,040 73,728 Other assets 20,741 23,462 TOTAL ASSETS $ 4,412,391 $ 3,936,072 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 115,991 $ 87,712 Accrued expenses and other current liabilities 104,791 127,631 Operating lease liabilities, current 24,565 21,974 Convertible senior notes, net, current 743,970 — Deferred revenue, current 801,562 765,735 Total current liabilities 1,790,879 1,003,052 Operating lease liabilities, non-current 193,835 138,128 Convertible senior notes, net, non-current — 742,235 Deferred revenue, non-current 14,049 21,210 Other liabilities 6,320 6,093 Total liabilities 2,005,083 1,910,718 COMMITMENTS AND CONTINGENCIES (NOTE 8) STOCKHOLDERS' EQUITY: Class A common stock, $ 0.00001 par value per share; 2,000,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 310,772,876 and 305,395,175 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 3 3 Class B common stock, $ 0.00001 par value per share; 310,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 25,996,783 and 25,684,571 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively — —

View Full Filing

View this 10-Q filing on SEC EDGAR