Summary by Moomoo AI
Datadog, a leading observability and security platform for cloud applications, has reported significant financial growth for the fiscal year ended December 31, 2023. The company's revenue surged to $2.13 billion, marking a 27% increase from the previous year's $1.68 billion. This growth was attributed to a combination of new customer acquisitions and expansion within the existing customer base. Despite the challenging macroeconomic environment, Datadog's operating cash flow also saw a substantial rise to $660 million, up from $418.4 million in the previous year. The company's net income turned positive, reaching $48.6 million, a notable recovery from the previous year's net loss of $50.2 million.
In terms of business development, Datadog's platform has been widely adopted across various industries, driving digital transformation and cloud...Show More