Datadog’s $65M/year customer mystery solved
Datadog is a leading observability tooling provider which went public in 2019, with a current market cap of $28B. The company made $1.67B revenue in 2022, circa $140M per month. On an earnings call a week ago, on 4 May, the CFO mentioned a “large upfront bill that did not recur,” saying: “Billings were $511 million, up 15% year-over-year. We had a large upfront bill for a client in Q1 2022 that did not recur at the same level or timing in Q1 2023....