Datadog's Q3 earnings report was well-received by the market, with the stock popping as much as 9% after the release. Considering the macro backdrop and their outperformance during 2021, I thought the results were favorable. Datadog is maintaining its rapid cadence of launching new products and cross-selling them into existing customers, supporting its elevated DBNRR. The growth rates of customers with multiple product subscriptions have been reliably intact, implying little competitive infringement either from incumbent providers or new start-ups.
Datadog's Q3 earnings report was well-received by the market, with the stock popping as much as 9% after the release. Considering the macro backdrop and their outperformance during 2021, I thought the results were favorable. Datadog is maintaining its rapid cadence of launching new products and cross-selling them into existing customers, supporting its elevated DBNRR. The growth rates of customers with multiple product subscriptions have been reliably intact, implying little competitive infringement either from incumbent providers or new start-ups.