Datadog Inc (NASDAQ: DDOG) has had an impressive run since it went public in September. This follows a series of positive news that underpin the company’s strength in its market. On the 12th of November, the company announced its Q3 results and they were solid. The company announced that it had 727 customers with an ARR of $100k. This represents a growth of 93% as compared to a similar quarter last year. Revenues in the quarter stood at $95.9 million, representing an year-over-year increase of 88%.
The company also offered positive projections for Q4, further underpinning its strong growth in the 2019 fiscal year. It announced that, it expects Q4 revenues to range between $101 million and $103 million. The company also expects a non-GAAP operating loss of between $6 million and $8 million in Q4. On top of that, it announced the launch of over 15 new products at its annual user conference.
While announcing the results, the CEO, Olivier Pomel stated that they were pleased with the revenue growth experienced in Q3. He added that, the company had established itself as a top monitoring and analytics platform, and that it expanded operations in the quarter. Pomel further stated that, the company was still in the early stages of a large market opportunity and that they remained committed to solving customer needs.
More recently, the company has announced that it had started supporting the Amazon Web Service in managing 3rd party resources. Speaking on this development, the company’s Vice President of Product and Community stated that, they are excited with the support for AWS. He added that this will help in giving repeatable steps for creating monitoring resources.
Looking at the charts, DDOG was trading between highs of $41.32 and lows of $37.84 before closing the day at $39.60 on Monday.
About Datadog Inc
Datadog is a monitoring and analytics platform. It serves operations teams, developers among others. It is headquartered in New York, New York.