DDOG Numbers

I’m about a month late to this – but was in Costa Rica without Internet, then caught COVID, so I’m just catching up.

The key number from Datadog’s earnings that I want to highlight: customers using multiple products. This – more than anything – is the most important to me. It marries together two things:

Optionality: This is like the offense. The ability to find new ways to fulfill one’s mission. In this sense, with new products.

Moat: This is the defense. Via both high switching-costs and network effects, using more products means that switching away becomes more painful.

That said, here’s the year-over-year numbers. These are approximate numbers, as management only gives whole numbers as percentages.

Customers using 2+ Products
Q4 2020: 10,224
Q4 2021: 14,664
Growth Rate: 43%

Customers using 4+ Products
Q4 2020: 3,124
Q4 2021: 6,204
Growth Rate: 99%

Customers using 6+ Products
Q4 2020: 426
Q4 2021: 1,880
Growth Rate: 340%

Hope that helps add some color,
Brian

Long DDOG

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