Datadog, Inc. (DDOG) shares faced a significant drop in Tuesday's premarket trading.
Why the Stock Dropped: The decline in Datadog's stock can be attributed to the company's revenue forecast falling short of expectations for the rest of the year.
Although Q2 results showed improvements and topped expectations, the Q3 and full-year outlook missed analyst forecasts, causing investor concerns and leading to the 20% drop in the stock.
Q3 Forecast: - Revenue: $521 million to $525 million (below consensus of $536 million). - Adjusted EPS: 33 to 35 cents (above consensus of 29 cents).
Full-Year Outlook: - Revenue: $2.05 billion to $2.06 billion (analysts expected $2.24 billion). - Adjusted EPS: $1.30 to $1.34 (analysts expected $1.18).
Q2 Performance: - Net Loss: $4.0 million, improving from a loss of $4.88 million YoY. - Adjusted EPS: 36 cents (analysts expected 28 cents). - Revenue: $509.5 million, up 25% YoY (above consensus of $501.6 million).
Customers: Around 2,990 customers with annual recurring revenue over $100,000.
CEO Olivier Pomel highlighted strong Q2 execution, with robust revenue growth, customer increase, and multi-product adoption. However, the revenue forecast shortfall for the rest of the year led to the stock's decline.
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