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Datadog, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports a revenue increase to $690.0 million, up from $547.5 million in the same quarter the previous year, representing a 26% year-over-year growth. This growth was attributed to both existing and new customers.
Cost of revenue for the quarter was $137.8 million, resulting in a gross profit of $552.3 million and a gross margin of 80%.
Operating expenses totaled $532.0 million, with research and development expenses at $291.8 million, sales and marketing expenses at $187.8 million, and general and administrative expenses at $52.4 million.
The company reported an operating income of $20.3 million for the quarter, compared to an operating loss of $4.2 million in the same quarter the previous year.
Net income for the quarter was $51.7 million, up from $22.6 million in the previous year. Basic and diluted net income per share were $0.15 and $0.14, respectively.
Cash provided by operating activities was $605.4 million, while cash used in investing activities was $627.5 million, and cash provided by financing activities was $27.7 million.
As of September 30, 2024, Datadog had $337.4 million in cash and cash equivalents and $2.9 billion in marketable securities.
The filing also discusses various risks, including competition, reliance on third-party service providers, and potential impacts of economic conditions on customer spending.
Datadog continues to focus on expanding its customer base, enhancing its platform capabilities, and exploring international markets.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Datadog Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.