Another Way to View DDOG's Growth

Greetings Saul-ians,

I did the same thing with CRWD earlier, and thought I’d do the same here.

If you listen to the conference call, you hear that DDOG had ~14,200 customers, with 72% using at least two products, and 22% using at least four products.

When 2019 ended, there were 10,500 customers, with 58% using at least two, and 10% using at least four.

Let’s put that growth in context.

Customers using 2+ products went from 6,090 to 10,224 → 68% growth
Customers using 4+ products went from 1,050 to 3,124 → 198% growth, or a triple.

This is not only great for growth, but it widens the moat via high switching costs and makes optionality (they’ve gone from one to nearly 10 products in just four years) much easier as customers are already locked in.

Just my 2 cents.