Short answer
Datadog (DDOG) filed its fiscal 2025 10-K annual report with the SEC on Feb 18, 2026. It reported revenue of $3.4B (+27.7% year over year) and net income of $108M.
- Top risk flagged: Regulatory risk: Full valuation allowance on U.S. federal and state deferred tax assets, signaling uncertainty in tax asset realization under current tax laws
FY2025 key financial metrics · XBRL
- Revenue
- $3.4B
- +27.7% YoY
- Net income
- $108M
- −41.4% YoY
- Operating margin
- -1.3%
- −3.3 pp YoY
- Gross margin
- 80.0%
- −0.8 pp YoY
- EPS (diluted)
- $0.31
- −40.4% YoY
- ROE
- 2.9%
- −3.9 pp YoY
- Operating cash flow
- $1.1B
- +20.6% YoY
Source: XBRL data from the Datadog (DDOG) FY2025 10-K on SEC EDGAR. USD.
Datadog FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Cloud-based monitoring and analytics platform for IT infrastructure and applications
- New emphasis on AI-native customer cohort driving ~7 percentage points of year-over-year revenue growth in Q4 2025
- Strategic focus on expanding sales/marketing teams domestically and internationally to increase customer base and market acceptance
- Security breach incident in April 2025 involving unauthorized access to source code repositories, leading to increased cybersecurity risk
- History of operating losses with prior fiscal year 2022 net loss of $50.2 million despite recent periods of profitability and growth initiatives
Management Discussion & Analysis
- Revenue $3,427.2M in FY2025, up 28% YoY from $2,684.3M in FY2024
- Net income $107.7M in FY2025 vs $183.7M in FY2024; operating margin not explicitly stated
- Operating cash flow $1,050.1M and free cash flow $914.7M in FY2025, both increased from prior year
- Best segment overall: subscription software sales driving majority of revenue; no breakdown given for worst segment
- Management notes economic uncertainty risks including inflation, interest rates, trade policies, Ukraine and Middle East conflicts impacting future growth
Risk Factors
- Regulatory risk: Full valuation allowance on U.S. federal and state deferred tax assets, signaling uncertainty in tax asset realization under current tax laws
- Macroeconomic risk: 29% of revenue from outside North America, with ongoing investments in EMEA and APAC that may impact near-term operating results
- Operational risk: Cost of third-party cloud infrastructure increased $149.8 million in 2025, reducing gross margin by 1% versus 2024
- Competitive risk: Expansion of product adoption critical amid competition, with 55% of customers using 4+ products as of 2025, up from 50% in 2024
- Financial risk: $1.0 billion principal 2029 Notes with $979.1 million net proceeds issued in Dec 2024, creating significant fixed obligations and repayment risk
Generated from the filing text; verify against the original. How to read a 10-K
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