Datadog reported strong financial results for Q2 2024, with revenue increasing 27% year-over-year to $645.3 million. The company achieved net income of $43.8 million, compared to a net loss of $4.0 million in Q2 2023. Gross margin improved to 81% from 80% in the prior year period, driven by revenue growth outpacing cloud infrastructure costs.The company continued to demonstrate strong customer momentum, growing its customer base to approximately 28,700, up from 26,100 a year ago. Notable metrics include approximately 3,390 customers with annual run-rate revenue of $100,000 or more, representing 87% of ARR. Product adoption remained robust with 83% of customers using multiple products and 49% using more than four products.Looking at operational metrics, Datadog maintained healthy cash flow with operating cash flow of $376.7 million for the first half of 2024. The company ended the quarter with a strong balance sheet, including $411.0 million in cash and cash equivalents and $2.5 billion in marketable securities. The trailing 12-month dollar-based net retention rate was in the mid-110%'s, reflecting some moderation in usage growth from existing customers.

Datadog reported strong financial results for Q2 2024, with revenue increasing 27% year-over-year to $645.3 million. The company achieved net income of $43.8 million, compared to a net loss of $4.0 million in Q2 2023. Gross margin improved to 81% from 80% in the prior year period, driven by revenue growth outpacing cloud infrastructure costs.The company continued to demonstrate strong customer momentum, growing its customer base to approximately 28,700, up from 26,100 a year ago. Notable metrics include approximately 3,390 customers with annual run-rate revenue of $100,000 or more, representing 87% of ARR. Product adoption remained robust with 83% of customers using multiple products and 49% using more than four products.Looking at operational metrics, Datadog maintained healthy cash flow with operating cash flow of $376.7 million for the first half of 2024. The company ended the quarter with a strong balance sheet, including $411.0 million in cash and cash equivalents and $2.5 billion in marketable securities. The trailing 12-month dollar-based net retention rate was in the mid-110%'s, reflecting some moderation in usage growth from existing customers.