0001628280-26-053829
SEC filingDatadog二季度营收36%增长至$1.12B，AI平台驱动客户扩张与现金流强劲。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $1,121,454 thousand | $826,760 thousand | +36% |
| Gross Margin (GAAP) | 79% | 80% | — |
| Gross Margin (Non-GAAP) | 80% | 81% | — |
| Operating Income (GAAP) | $5,455 thousand | $(35,500) thousand | — |
| Operating Income (Non-GAAP) | $257,031 thousand | $164,108 thousand | — |
| Operating Margin (GAAP) | 0% | (4)% | — |
| Operating Margin (Non-GAAP) | 23% | 20% | — |
| Net Income (GAAP) | $44,558 thousand | $2,647 thousand | — |
| Diluted EPS (GAAP) | $0.12 | $0.01 | — |
| Diluted EPS (Non-GAAP) | $0.65 | $0.46 | — |
| Operating Cash Flow | $315,872 thousand | $200,055 thousand | — |
| Free Cash Flow | $278,704 thousand | $165,353 thousand | — |
| Free Cash Flow Margin | 25% | 20% | — |
| $100k+ ARR Customers | ~4,720 | ~3,850 | +23% |
| 期间 | 指标 | 指引 | 口径 |
|---|---|---|---|
| Q3 2026 | Revenue | $1.135B – $1.145B | N/A |
| Q3 2026 | Non-GAAP Operating Income | $260M – $270M | Non-GAAP |
| Q3 2026 | Non-GAAP EPS | $0.63 – $0.65 | Non-GAAP |
| FY2026 | Revenue | $4.45B – $4.47B | N/A |
| FY2026 | Non-GAAP Operating Income | $1.01B – $1.03B | Non-GAAP |
| FY2026 | Non-GAAP EPS | $2.50 – $2.54 | Non-GAAP |
简评
Datadog 二季度营收 $1.12B，同比 +36%，延续高增长态势。GAAP 经营利润转正至 $5M（去年同期亏损 $35.5M），Non-GAAP 经营利润率 23%，同比提升 3 个百分点，显示经营杠杆持续释放。GAAP 净利 $44.6M 较去年同期 $2.6M 大幅改善，Non-GAAP EPS $0.65 亦高于去年同期的 $0.46。现金流表现强劲，经营现金流 $316M、自由现金流 $279M（利润率 25%），资产负债表稳健，现金及有价证券合计 $5.0B。
增长核心驱动力来自 AI 相关需求：$100k+ ARR 客户数达约 4,720 家，同比 +23%，大客户渗透加速。管理层强调客户正用 Datadog 平台"observe, secure, and act on their AI-enabled solutions"，DASH 2026 发布超 100 项新能力（Bits AI、AI Guard、Bring Your Own Cloud 等），并收购 Adaptive ML 强化 AI Research 布局。指引方面，Q3 营收预期 $1.135B-$1.145B，全年 $4.45B-$4.47B，Non-GAAP EPS 全年 $2.50-$2.54，隐含下半年增速略有放缓但利润率持续扩张。公司未披露回购或分红计划，资本配置重点仍在 AI 研发与并购。