Datadog
Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, user experience monitoring, cloud security, service management, and many other capabilities to provide unified, real-time observability and security for our customers’ entire technology stack.
10-K, Feb 18, 2026
Source and method
In the company’s words: first descriptive sentence of 10-K Item 1, verbatim (extractive). Item 1 · Business · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Business
How does Datadog make money?
No revenue split that adds up to total revenue.
Empty state, nothing estimated.
What is left of every $100?
Of every $100 in revenue, $3 is net income.
Source and method
Of every $100 of revenue, FY2025.
Calculated: amount ÷ revenue × 100.
- Revenue: $3.4B
- Gross profit: $2.7B
- Operating income: −$44.4M
- Net income: $108M
- Free cash flow: $1.0B
Where do customers sit?
71.0% of revenue is from North America.
Source and method
Revenue by region, latest annual report.
10-K · 0001628280-26-008819 · XBRL revenue by region · one level, shares add up to 100.0% · derived
Calculated: share = region revenue ÷ total revenue.
In the company’s words ›
“Datadog is used by organizations of all sizes and across a wide range of industries to enable digital transformation and cloud migration, drive collaboration among development, operations, security and business teams, accelerate time to market for applications, reduce time to problem resolution, secure applications and infrastructure, understand user behavior, and track key business metrics.”
“Software applications are transforming how organizations engage with customers and operate their businesses.”
“Companies across all industries are re-platforming their businesses to cloud native or hybrid on-premise and cloud infrastructures to enable this digital transformation.”
Item 1 · Business · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Thesis
Why do people invest?
3 reasons in the company’s own words.
Revenue +28%
“Revenue increased by $742.9 million or 28%, for the year ended December 31, 2025 compared to the year ended December 31, 2024.”
Item 7 · MD&A · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Number check (revenue): stated $743M matches the stored change ($743M, ±10%)
Revenue: $3.4B FY2025 · +27.7% vs FY2024 · KPIs
Position (in the company’s words)
“As of December 31, 2025, we had approximately 32,700 customers in over 160 countries.”
Item 1 · Business · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
R&D +34%
“Research and development expense increased by $395.7 million, or 34%, for the year ended December 31, 2025 compared to the year ended December 31, 2024.”
Item 7 · MD&A · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Number check (R&D expense): stated $396M matches the stored change ($396M, ±10%)
R&D expense: $1.5B FY2025 · +34.3% vs FY2024 · Profitability charts
Source and method
Verbatim · selection. Sentences selected by rules from the 10-K and checked word for word against it; no AI summary. Not investment advice, not a recommendation, no forecast.
3 of 3 points met the selection rules (score, subject = the metric, quoted number within ±10% of the stored value).
KPIs
How fast is revenue growing?
Revenue grew 28% to $3.4B.
Revenue grew 36% YoY to $1.1B.
Source & method
- Counted
- Total revenue, as filed in 10-K / 20-F / 10-Q XBRL.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Did the growth reach the shareholder?
Per share, revenue grew 77.5%.
Source & method
- Counted
- Revenue and weighted-average diluted shares, as filed, first and last fiscal year of the range.
- Formulas
- Revenue per diluted share = revenue / diluted shares; growth = (to / from) − 1. All three changes are calculated.
- Guards
- IPO: if the start year ended more than 365 days before the first SEC filing and diluted shares then rose ≥25%, the range is hidden by default (Options → Include IPO-distorted periods). Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How profitable is it?
−1.3% operating margin, down from 2.0%.
80.0% gross margin, down from 80.8%.
Operating income: −$44.4M in FY2025.
Net income fell 41% to $108M.
R&D grew 34% to $1.5B.
SG&A grew 29% to $1.2B.
EPS diluted fell 40% to $0.31.
0.5% operating margin, up from −4.3%.
78.6% gross margin, down from 79.9%.
Operating income: $5.5M in FY2026 Q2.
Net income grew 1583% YoY to $44.6M.
R&D grew 23% YoY to $478M.
SG&A grew 29% YoY to $398M.
EPS diluted grew 1100% YoY to $0.12.
Source & method
- Counted
- Income statement items, as filed.
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated. Values marked “calculated” are derived by Hollsteen, not taken verbatim from a filing.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How much cash does it make, and where does it go?
Keeps $29 of every $100 as free cash.
Operating cash flow grew 21% to $1.1B.
Capex grew 43% to $49.6M.
Stock-based compensation grew 32% to $751M.
Free cash flow grew 65% YoY to $306M.
Operating cash flow grew 58% YoY to $316M.
Capex fell 35% YoY to $9.9M.
Stock-based compensation grew 22% YoY to $220M.
Source & method
- Counted
- Cash flow statement items, as filed; free cash flow = operating cash flow − capex (calculated).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
How strong is the balance sheet?
$401M cash vs $983M debt.
Total debt fell 39% to $983M.
Interest expense grew 56% to $11.1M.
Total assets grew 15% to $6.6B.
Equity grew 37% to $3.7B.
Cash fell 11% YoY to $435M.
Total debt grew 0.4% YoY to $986M.
Interest expense grew 5.9% YoY to $3.3M.
Total assets grew 30% YoY to $7.5B.
Equity grew 37% YoY to $4.4B.
Source & method
- Counted
- Balance sheet items at fiscal year end, as filed; total debt is derived from reported components (excl. operating leases).
- Formulas
- Values as filed; margins = metric / revenue of the same period (calculated). Change vs prior period is calculated.
- Guards
- Gaps are shown as 'not reported', never interpolated.
- Coverage
- SEC filings only · 100 companies covered
- As of
- Oct 15, 2026
Dependencies
Who does Datadog depend on?
No customer above the disclosure threshold.
Risks
What could go wrong?
4 of 65 risk factors, one per theme.
Competition
“If we cannot maintain our company culture as we grow, our success and our business and competitive position may be harmed.”
Item 1A · Risk Factors · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Security, defects and outages
“Interruptions or performance problems associated with our products and platform capabilities may adversely affect our business, financial condition and results of operations.”
Item 1A · Risk Factors · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Key people
“If we fail to retain and motivate members of our management team or other key employees, or fail to attract additional qualified personnel to support our operations, our business and future growth prospects would be harmed.”
Item 1A · Risk Factors · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Acquisitions
“Acquisitions, strategic investments, partnerships, or alliances could be difficult to identify, pose integration challenges, divert the attention of management, disrupt our business, dilute stockholder value, and adversely affect our business, financial condition and results of operations.”
Item 1A · Risk Factors · 10-K · 0001628280-26-008819 · filed Feb 18, 2026
Source and method
Short verbatim quotes from the risk factors in Item 1A, one per theme (a partial selection). Full list: 10-K.
Who’s invested
Who owns more than 5%?
BlackRock, Inc. holds 8.2%.
BlackRock, Inc.8.2%
13G/A · as of Sep 30, 2025 · filed Oct 17, 2025
Vanguard Capital Management LLC7.46%
13G · as of Mar 31, 2026 · filed Apr 29, 2026
Vanguard Portfolio Management LLC5.37%
13G · as of Mar 31, 2026 · filed Apr 29, 2026
Fmr LLC5.1%
13G · as of Sep 30, 2025 · filed Nov 5, 2025
Enfield Investments Holdings Ltd8.93% (then)
13G/A · as of Dec 31, 2020 · filed Feb 16, 2021 · older than 18 months, current position unknown
Source and method
Holders above 5% from Schedule 13G/13D, SEC filings only. “(then)”: reported in a filing older than 18 months; the current position is not known from SEC 13G/13D data.
16 filings reporting a stake below 5% (e.g. after selling) not listed.
13F holders and insider trades ›
Largest institutional holders, 13F, quarter ending Jun 30, 2026
BlackRock, Inc.10.3%
35.5M shares · 13F filed Aug 7, 2026 · share of 13F-reported
Vanguard Capital Management LLC6.3%
21.6M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Fmr LLC5.7%
19.8M shares · 13F filed Aug 13, 2026 · share of 13F-reported
Vanguard Portfolio Management LLC5.1%
17.6M shares · 13F filed Aug 13, 2026 · share of 13F-reported
State Street Corp4.3%
14.7M shares · 13F filed Aug 7, 2026 · share of 13F-reported
1,280 13F filers report positions. 13F covers managers with over $100M in US equities; it is not a full shareholder list, and shares are not a percentage of shares outstanding. 5 large filings with inconsistent reported value per share left out.
Insiders, last 12 months (Form 4, open market)
0 purchases · 694 sales · $899M sold
Grants, gifts and tax withholding counted separately · window Oct 14, 2025 – Oct 14, 2026
All metrics
All metrics · 32 SEC metrics, FY2016–FY2025
Income statement 12
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue | not reported | |||||||||
| D&A | not reported | |||||||||
| G&A | not reported | |||||||||
| Gross profit | not reported | |||||||||
| Income taxes | not reported | |||||||||
| Interest expense | not reported | not reported | not reported | |||||||
| Net income | not reported | |||||||||
| Operating income | not reported | |||||||||
| Research and development | not reported | |||||||||
| Revenue | not reported | |||||||||
| SG&A calc. | not reported | |||||||||
| Sales & marketing | not reported | |||||||||
Balance sheet 9
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | not reported | |||||||||
| Current liabilities | not reported | not reported | ||||||||
| Current portion of long-term debt | not reported | not reported | not reported | not reported | not reported | not reported | not reported | |||
| Equity | ||||||||||
| Equity incl. NCI | ||||||||||
| Long-term debt | not reported | not reported | not reported | not reported | ||||||
| Total assets | not reported | not reported | ||||||||
| Total debt calc. | not reported | not reported | not reported | not reported | ||||||
| Total liabilities & equity | not reported | not reported | ||||||||
Cash flow 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Capex | not reported | |||||||||
| Free cash flow calc. | not reported | |||||||||
| Operating cash flow | not reported | |||||||||
| Stock-based compensation | not reported | |||||||||
Per share & shares 4
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| EPS basic | not reported | |||||||||
| EPS diluted | not reported | |||||||||
| Wtd. shares basic | not reported | |||||||||
| Wtd. shares diluted | not reported | |||||||||
Other 3
| Metric | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Other income (incl. interest) calc. | not reported | |||||||||
| Pretax income | not reported | |||||||||
| Total liabilities | not reported | not reported | ||||||||
Method
extractive: verbatim sentences selected by rules from Item 1, 1A and 7; no AI summary; every sentence matched verbatim against the filing text. Numbers: Hollsteen SEC dataset. Every value opens its SEC source · version history of all values