Datadog (DDOG) 10-K risk factor changes: FY2024 vs FY2023

Unfavorable conditions in the economy both in the United States and abroad, including conditions resulting from changes in gross domestic product growth in the United States or abroad, financial and credit market fluctuations, [removed: inflation, rising] [added: fluctuating inflation and] interest rates, international trade relations, political turmoil, natural catastrophes, outbreaks of contagious diseases, [removed: such as the COVID-19 pandemic,] warfare and terrorist attacks on the United States, Europe, the Asia Pacific region or elsewhere, such as the [removed: conflict] [added: war] in [added: Ukraine and conflicts in] the Middle East, could cause a decrease in business investments, including spending on information technology, disrupt the timing and cadence of key industry events, and negatively affect the growth of our business and our results of operations.

[removed: For example, the COVID-19 pandemic] [added: Such catastrophic and disruptive events have and may] adversely [removed: affected] [added: affect] workforces, economies and financial markets globally, leading to a reduction in the ability of, or the inability of, customers, partners, suppliers, vendors or other parties to meet their contractual obligations, and for a period of time, a reduction in customer spending on technology, and such conditions [added: have and] may reoccur in the future.

The war in [removed: Ukraine and] [added: Ukraine, conflicts in] the [added: Middle East and] related political and economic responses [removed: imposed on Russia] such as [removed: sanctions,] [added: sanctions imposed on Russia,] may also exacerbate these issues and trends especially in [removed: Europe.][added: these regions.]

Our competitors, many of which are larger and have greater financial resources than we do, may respond to challenging market conditions by lowering prices in an attempt to attract our [added: customers and may be less dependent on key industry events to generate sales for their products.]

Our revenue was [removed: $2,128.4] [added: $2,684.3] million, [removed: $1,675.1] [added: $2,128.4] million and [removed: $1,028.8] [added: $1,675.1] million for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021,] [added: 2022,] respectively.

[removed: If we are unable to maintain or increase] [added: In future periods if] our revenue [added: growth does not meet our expectations or increase] at a rate sufficient to offset the expected increase in our costs, our business, financial [removed: position,] [added: position] and results of operations [removed: will] [added: may] be harmed, and we may not [removed: be able to achieve or] maintain profitability [removed: over] [added: in] the [removed: long term.][added: future.]

We have a history of operating losses and may not [removed: achieve or] sustain profitability in the future.

[added: While we have experienced significant revenue growth in recent periods and periods of] profitability, we are not certain whether or when we will obtain a high enough volume of sales to sustain or increase our growth or maintain profitability in the future.

We cannot be certain [removed: when or] if our operations will [added: continue to] generate sufficient cash to fully fund our ongoing operations or the growth of our business.

If our customers do not renew or expand their subscriptions with us, [added: or decrease their spend on] our [added: products, our] future operating results would be harmed.

These factors may also be exacerbated if, consistent with our growth strategy, our customer base continues [added: to grow to encompass larger enterprises, which may also require more sophisticated and costly sales efforts.]

If our customers do not purchase additional subscriptions and products from [removed: us or our customers] [added: us,] fail to renew their [removed: subscriptions,] [added: subscriptions or renew on different terms,] our revenue may decline and our business, financial condition and results of operations may be harmed.

Similarly, our subscription sales could be adversely affected if customers or users within these organizations perceive that features incorporated into competitive products reduce the need for our products or if they prefer to purchase other products that are bundled with solutions offered by other companies that operate in adjacent markets and compete with our [removed: products.]

If we or [removed: our third-party service providers] [added: the third-parties with whom we work] experience, or are unable to protect against cyber-attacks, ransomware, security incidents, or security breaches, or if unauthorized parties otherwise obtain access to or otherwise compromise our customers’ data, our data, or our platform and information technology systems, then our solution may be perceived as not being secure, our reputation may be harmed, demand for our platform and products may be reduced, and we may incur significant liabilities or additional expenses.

We collect, receive, store, process, generate, use, transfer, disclose, make accessible, protect, secure, dispose of and share [removed: personal information, confidential] [added: personal, confidential, and proprietary] information and other information [added: (collectively, sensitive information)] necessary to provide our services, to operate our business, for legal and marketing purposes, and for other business-related purposes.

Our platform and products involve the storage and transmission of data, including personal information, and security breaches or unauthorized access to our platform and products, or those of [removed: our third-party service providers,] [added: the third-parties with whom we work,] could result in the unauthorized, unlawful, or accidental acquisition, modification, destruction, loss, alteration, encryption, disclosure of, or access to sensitive information including our customers' data.

We have previously and may in the future become the target of cyber-attacks by third [removed: parties] [added: parties, including without limitation nation-state actors,] seeking to gain unauthorized access to and exfiltrate our or our customers’ data, including confidential and personal information, [removed: from certain of our infrastructure resources,] or to disrupt our ability to provide our services.

In addition, many of our employees [removed: are working remotely,] [added: work remotely and utilize network connections, computers and devices outside our premises or network,] which may pose additional data security risks (including, for example, [removed: an increase in] [added: the increasing number of] phishing and malicious emails we [removed: began experiencing during 2020).][added: continue to receive).]

We [removed: may] use [removed: third-party service providers and sub-processors] [added: third-parties, including sub-processors,] to help us deliver services to our customers.

These vendors, such as cloud infrastructure providers, [removed: may] store or process personal and confidential information for us or our customers.

We use third-party technology, systems and services in a variety of contexts, including, without limitation, [added: cloud infrastructure,] encryption and authentication technology, employee email, content delivery to customers, back-office support, credit card processing and other functions.

While we have taken steps [added: designed] to protect the confidential and personal information that we have access to, our security measures or those of [removed: our third-party service providers] [added: the third-parties with whom we work] that store or otherwise process certain of our and our customers’ data on our behalf could be breached or we could suffer a loss of our or our customers’ data.

Cyber-attacks, computer malware, viruses, employee mistakes or malfeasance, social engineering (including [added: through deep fakes and] spear phishing), malicious code, denial-of-service attacks, credential harvesting and general hacking have become more prevalent in our industry, particularly against cloud [removed: services.][added: services, and have become enhanced or facilitated by artificial intelligence.]

Ransomware attacks, including those from organized criminal threat actors, nation-states and nation-state supported actors, are [removed: becoming increasingly] prevalent and can lead to significant interruptions, delays, or outages in our operations, loss of data (including customer data), loss of income, significant extra expenses to restore data or systems, reputational loss and the diversion of funds.

There can be no assurance that any security measures that we or [removed: our third-party service providers] [added: the third-parties with whom we work] have implemented will be effective against current or future security threats.

While we have developed systems and processes designed to protect the integrity, confidentiality, and security of our and our customers’ data, our security measures or those of [removed: our third-party service providers] [added: the third-parties with whom we work] could fail and result in unauthorized access to or disclosure, modification, misuse, loss or destruction of such data.

[removed: In addition, our] [added: Our] remediation efforts may not be successful.

This data [removed: may include] [added: includes] personal, confidential or proprietary information.

We take steps designed to detect, mitigate, and remediate vulnerabilities in our information systems (such as our hardware and/or software, including that of third parties [removed: upon which] [added: with whom] we [removed: rely).][added: work).]

Among other things, our applications, systems, networks, software, other computer assets and physical facilities could be breached or could otherwise malfunction or fail, or the [removed: personal or confidential] [added: sensitive] information that we store could be otherwise compromised due to employee error or malfeasance, if, for example, third parties fraudulently induce our employees or our members to disclose information or user names and/or passwords, or otherwise compromise the security of our networks, systems and/or physical facilities.

We may have contractual and other legal [removed: obligations] [added: obligations, or we may voluntarily choose,] to notify relevant stakeholders of security incidents.

[added: Such mandatory contractual and legal disclosures are costly, could lead to negative publicity, may cause our] customers to lose confidence in the effectiveness of our security measures and require us to expend significant capital and other resources to respond to and/or alleviate problems caused by the actual or perceived security breach, and any failure to provide appropriate notice may violate the terms of our customer contracts.

Applicable laws, our [removed: contracts,] [added: contracts and] our [removed: representations, or industry standards may] [added: representations] require us to [removed: use] [added: implement and maintain] industry-standard or reasonable measures to safeguard [removed: sensitive] personal information or confidential information.

Further, [added: our contracts may not contain limitations of liability, and even where they do,] there can be no assurance that any limitations of liability [removed: in our contracts] would be enforceable or adequate or would otherwise protect us from liabilities or damages.

[removed: We] could be required to fundamentally change our business activities and practices in response to a security breach or related regulatory actions or litigation, which could have an adverse effect on our business.

Additionally, we cannot be certain that our insurance coverage will be adequate [added: or sufficient] for fines, judgments, settlements, penalties, costs, attorney fees and other impacts that arise out of privacy or security incidents or breaches.

Our risks are likely to increase as we continue to expand, grow our customer base, and process, store, and transmit increasingly large amounts of [removed: proprietary and] sensitive [removed: data.][added: information.]

- general economic conditions, both domestically and internationally, as well as economic conditions specifically affecting industries in which our customers participate, including those impacted by the [removed: COVID-19 pandemic,] war in Ukraine and [removed: conflict] [added: conflicts] in the Middle East;

The global economy, including credit and financial markets, has experienced extreme volatility and disruptions, including severely diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, increases in unemployment rates, [removed: increases in] [added: fluctuating] inflation [removed: rates, higher] [added: and] interest [removed: rates] [added: rates,] and uncertainty about economic stability.

Competition for these personnel is intense, especially for engineers experienced in designing and developing SaaS [removed: applications] [added: applications,those experienced with artificial intelligence] and [added: machine learning, and] experienced sales professionals.

In addition interest rates remain elevated, which may dampen economic growth and cause companies to moderate spending on information technology.

Additional factors that may impact the growth of our revenue are described under Part I — Item 1.

Business in this Annual Report on Form 10-K.

Prior to the year ended December 31, 2023, we incurred net losses in each fiscal year since our inception, including a net loss of $(50.2) million in the year ended December 31, 2022.

See also "Risks Related to Our Outstanding Notes."

Certain customers and cohorts of customers in specific industries have or in the future may increase usage of our product and then seek to optimize their usage, renew their subscriptions on terms less favorable to us, or not renew their subscriptions, which may result in revenue volatility.

For example, in prior periods customers in our cloud-native cohort, and more recently larger customers in our AI-native cohort, which cohort represented approximately five percentage points of our year-over-year revenue growth for the quarter ended December 31, 2024, have rapidly increased their usage of our product and then optimized or may in the future optimize their usage.

products.

Our ability to monitor these third-parties’ data security is limited, and they may not have adequate information security measures in place.

We employ a shared responsibility model where our customers are responsible for using, configuring, and otherwise implementing security measures related to our platform, services, and products.

As part of this shared responsibility security model, we make certain security features available to our customers that can be implemented at our customers’ discretion, or identify security areas or measures for which our customers are responsible.

In certain cases our customers may choose not to implement, or may incorrectly implement, those features or measures, misuse our services, or otherwise experience their own vulnerabilities, policy violations, credential exposure, or security incidents.

Even if we are not the cause of a resulting customer security issue or incident, our customer relationships, reputation, and business may be adversely impacted.

We

Real or perceived errors, failures or bugs in our software could adversely affect our business, results of operations, financial condition and growth prospects.

Our software is complex and therefore, undetected errors, failures or bugs have occurred in the past and may occur in the future.

Our software is used in IT environments with different operating systems, system management software, applications, devices, databases, servers, storage, middleware, custom and third-party applications and equipment and networking configurations, which may cause errors or failures in the IT environment into which our software is deployed.

This diversity increases the likelihood of errors or failures in those IT environments.

Despite testing by us, real or perceived errors, failures or bugs may not be found until our customers use our software.

Our systems could also be negatively affected by vulnerabilities present in acquired or integrated entities’ systems and technologies, and such vulnerabilities may not be discovered during our due diligence.

Real or perceived errors, failures or bugs in our products could result in negative publicity, security breaches or other security incidents, loss of or delay in market acceptance of our software, regulatory investigations and enforcement actions, harm to our brand, weakening of our competitive position, or claims by customers for losses sustained by them or failure to meet the stated service level commitments in our customer agreements.

In such an event, we may be required, or may choose, for customer relations or other reasons, to expend significant additional resources in order to help correct the problem.

Any real or perceived errors, failures or bugs in our software could also impair our ability to attract new customers, retain existing customers or expand their use of our software, which would adversely affect our business, results of operations and financial condition.

For a discussion of certain of these economic, political, regulatory, and market risks, see “Risks Associated with our Growth—Unfavorable conditions in our industry or the global economy, or reductions in information technology spending, could limit our ability to grow our business and negatively affect our results of operations”.

resources.

Several jurisdictions around the globe, including Europe and certain U.S. states, have proposed, enacted, or are considering laws governing the development and use of AI and machine learning technologies.

For example, the European Union's Artificial Intelligence Act, which would apply beyond the European Union’s borders, came into effect in August 2024.

It contains numerous requirements regarding the development and use of AI and imposes significant monetary fines.

In addition, the Federal Trade Commission has required other companies to disgorge valuable insights or trainings generated through the use of AI or machine learning technologies where they allege the company has violated privacy and consumer protection laws.

are likely to remain uncertain for the foreseeable future resulting in possible significant operational costs for compliance and risk to our business.

While we utilize a data center in the EEA to maintain certain customer data (which may include personal information)

As of December 31, 2024, we have approximately $263.0 million of net operating loss carryforwards, or NOLs, for state income tax purposes, which begin to expire in 2028 if not utilized.

We have fully utilized all of our existing NOLs for federal income tax purposes, other than certain NOLs of entities that we have acquired, which are subject to annual limitation under Section 382 of the Internal Revenue Code of 1986, as amended, or the Code, as discussed below.

We are evaluating the impact of any Section 382 limitation on our utilization of these acquired NOLs.

- our ability to substantiate and utilize research and development tax credits to offset our future tax liabilities, taking into account any limitations under Section 382;

The OECD's Pillar Two model rules introduced a global minimum tax of 15%.

These model rules have been adopted by various governments around the world, some of which are effective for tax periods beginning on or after December 31, 2023.

There is no material impact on our financial statements for the tax period ending December 31, 2024.

A change in these principles or interpretations could have

Consequently, our results of operations could be adversely affected by fluctuations in foreign currency exchange rates.

More recently, in response to persistently high inflation, the U.S. Federal Reserve has increased interest rates, which may reduce economic growth and cause companies to decrease spending on information technology.

customers and may be less dependent on key industry events to generate sales for their products.

If our revenue growth does not meet our expectations in future periods, our business, financial position and results of operations may be harmed, and we may not achieve or maintain profitability in the future.

We have experienced net losses in several recent fiscal years and as of December 31, 2023, we had an accumulated deficit of $153.7 million.

While we have experienced significant revenue growth in recent periods and periods of

to grow to encompass larger enterprises, which may also require more sophisticated and costly sales efforts.

However, complex software such as ours can contain errors, defects, security vulnerabilities or software bugs that, despite testing by us, are difficult to detect and correct, particularly when such vulnerabilities are first introduced or when new versions or enhancements of our platform are released.

Real or perceived errors, defects, security vulnerabilities or software bugs in our products could result in reputational harm, reduce the demand for our products and expose us to breach of contract claims, regulatory fines and related liabilities.

Our ability to monitor our third-party service providers’ data security is limited.

Such mandatory contractual and legal disclosures are costly, could lead to negative publicity, may cause our

For example, the COVID-19 pandemic resulted in widespread unemployment, economic slowdown and extreme volatility in the capital markets.

The ongoing military conflict between Russia and Ukraine has also created extreme volatility in the global capital markets and is expected to have further global economic consequences.

the value of the equity awards they receive in connection with their employment.

addressed by U.S. courts or federal or state laws and regulations, and the incorporation of AI technologies into our products and services could expose us to intellectual property claims or mandatory compliance with open source software or other license terms.

Various governments have proposed policy and regulatory responses to oversee the use of AI, including the EU’s Artificial Intelligence Act, which would apply beyond the European Union’s borders.

relating to privacy, data security and data breaches.

Other states have enacted or proposed comprehensive privacy laws as well.

to obtain necessary permits, licenses, and other regulatory approvals.

Changes in our

As of December 31, 2023, we had NOL carryforwards for federal and state income tax purposes of approximately $148.9 million and $206.4 million, respectively, which may be available to offset taxable income in the future, and which expire in 2026 for state purposes if not utilized.

federal NOLs is limited to 80% of taxable income.

It is uncertain if and to what extent various states will conform to federal tax laws.

If we are not able to successfully hedge against the risks associated with currency fluctuations, our results of operations could be adversely affected.

We cannot predict the impact our dual class structure may have on the market price of our Class A common stock.

We cannot predict whether our dual class structure, combined with the concentrated control of our stockholders who held our capital stock prior to the completion of our initial public offering, or IPO, including our executive officers, employees and directors and their affiliates, will result in a lower or more volatile market price of our Class A common stock or in adverse publicity or other adverse consequences.

Many of our stockholders who held our capital stock prior to the completion of our IPO have substantial unrecognized gains on the value of the equity they hold based upon the price at which shares were sold in our IPO, and therefore they may take steps to sell their shares or otherwise secure the unrecognized gains on those shares.

Further, as of December 31, 2023, holders of a substantial number of shares of our capital stock have rights, subject to certain conditions, to require us to file registration statements covering the sale of their shares or to include their shares in registration statements that we may file for ourselves or other stockholders.

We incur costs and demands upon management as a result of complying with the laws and regulations affecting public companies in the United States, which may harm our business.

As a public company in the Unites States, we incur significant legal, accounting, insurance, and other expenses.

The Sarbanes-Oxley Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the listing requirements of the Nasdaq Global Select Market and other applicable securities rules and regulations impose various requirements on public companies and these laws, requirements, rules and regulations are subject to varying interpretations and, as a result, their application in practice may evolve over time as new guidance is provided by regulatory and governing bodies.

Our management and other personnel devote a substantial amount of time to compliance with these requirements.

These rules and regulations contribute to increased legal and financial compliance costs and make some activities more time-consuming and costly.

Our ability to refinance

In the event the conditional conversion feature of the 2025 Notes is triggered, as it was during the quarter ended March 31, 2022, holders of the 2025 Notes are entitled to convert the notes at any time during specified periods at their option.

The capped call transactions are expected generally to partially offset the potential dilution to our Class A common stock as a result of conversion of the 2025 Notes.

*This section of our Annual Report on Form 10-K discusses our financial condition and results of operations for the fiscal years ended December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] and year-to-year comparisons between fiscal [removed: 2023] [added: 2024] and fiscal [removed: 2022.][added: 2023.]

A discussion of our financial condition and results of operations for the fiscal year ended December 31, [removed: 2021] [added: 2022] and year-to-year comparisons between fiscal [removed: 2022] [added: 2023] and fiscal [removed: 2021] [added: 2022] that are not included in this Annual Report on Form 10-K can be found in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7 of our Annual Report on Form 10-K for the fiscal year ended December 31, [removed: 2022,] [added: 2023,] filed on February 24, 2023.*

Our SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, user experience monitoring, cloud security, and many other capabilities to provide unified, real-time observability [removed: and security for our customers’ entire technology stack.]

As of December 31, [removed: 2023,] [added: 2024,] we had [removed: $330.3] [added: $1,247.0] million in [removed: cash,] cash [removed: equivalents] and [removed: restricted] cash [added: equivalents] and [removed: $2,252.6] [added: $2,942.1] million in marketable securities.

We have grown rapidly in recent periods, with revenues for the fiscal years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021] [added: 2022] of [removed: $2,128.4] [added: $2,684.3] million, [removed: $1,675.1] [added: $2,128.4] million, and [removed: $1,028.8] [added: $1,675.1] million, respectively, representing year-over-year growth of [removed: 27%] [added: 26%] from the fiscal year ended December 31, [removed: 2022] [added: 2023] to the fiscal year ended December 31, [removed: 2023] [added: 2024] and [removed: 63%] [added: 27%] from the fiscal year ended December 31, [removed: 2021] [added: 2022] to the fiscal year ended December 31, [removed: 2022.][added: 2023.]

We have continued to make significant expenditures and investments, including in personnel-related costs, sales and marketing, infrastructure and operations, and have incurred net income (losses) of [removed: $48.6] [added: $183.7] million, [removed: $(50.2)] [added: $48.6] million and [removed: $(20.7)] [added: $(50.2)] million for the fiscal years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021,] [added: 2022,] respectively.

Our operating cash flow was [removed: $660.0] [added: $870.6] million, [removed: $418.4] [added: $660.0] million and [removed: $286.5] [added: $418.4] million for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021,] [added: 2022,] respectively.

Our free cash flow was [removed: $597.5] [added: $775.1] million, [removed: $353.5] [added: $597.5] million and [removed: $250.5] [added: $353.5] million for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021,] [added: 2022,] respectively.

For example, macroeconomic events including [removed: rising inflation, the U.S. Federal Reserve raising] [added: fluctuating inflation and] interest rates, the Russian invasion of Ukraine, [added: and] the [removed: conflict] [added: conflicts] in the Middle East [removed: and the COVID-19 pandemic] have led to economic uncertainty.

[removed: We also plan to continue to invest in building brand] awareness within the development and operations communities.

As of December 31, [removed: 2023,] [added: 2024,] we had approximately [removed: 27,300] [added: 30,000] customers spanning organizations of a broad range of sizes and industries, compared to approximately [removed: 23,200] [added: 27,300] as of December 31, [removed: 2022.][added: 2023.]

As of December 31, [removed: 2023,] [added: 2024,] we had approximately [removed: 3,190] [added: 3,610] customers with annual run-rate revenue, or ARR, of $100,000 or more, representing [removed: 86%] [added: 88%] of our ARR, up from [removed: 2,780] [added: 3,190] as of December 31, [removed: 2022,] [added: 2023,] representing [removed: 85%] [added: 86%] of our ARR.

As of December 31, [removed: 2022,] [added: 2024,] our trailing 12-month dollar-based net retention rate was [removed: mid-140%'s.][added: high-110%'s.]

The [removed: decline] [added: increase] in our trailing 12-month dollar-based net retention rate was [removed: primarily] attributable to [removed: slower] [added: increased] usage growth from existing [removed: customers, which may be related to the uncertain macroeconomic environment.][added: customers.]

We have demonstrated the success of our platform approach, through expansion beyond our initial infrastructure monitoring solution to include over [removed: 19] [added: 20] products.

As of [added: each of the years ended] December 31, [added: 2024 and] 2023, approximately 83% of our customers were using more than one [removed: product, up from approximately 81% a year earlier.][added: product.]

Additionally, as of December 31, [removed: 2023,] [added: 2024,] approximately [removed: 47%] [added: 50%] of our customers were using more than four products, up from approximately [removed: 42%] [added: 47%] a year earlier, and approximately [removed: 22%] [added: 26%] of our customers were using more than six products, up from approximately [removed: 18%] [added: 22%] a year earlier.

Revenue, as determined based on the billing address of our customers, from regions outside of North America was approximately 30% [removed: and 28%] of our total revenue for each of the years ended December 31, [removed: 2023] [added: 2024] and [removed: 2022, respectively.][added: 2023.]

We intend to continue to invest additional resources in our platform infrastructure and our customer support and success organizations to expand the capability of our platform and ensure that our customers are realizing the full benefit of our [removed: platform and products.]

[added: |] Research and development [removed: costs are expensed as incurred.][added: | | | 43 | | | | | | 45 | | | | | | 45 | | |]

General and administrative expense consists primarily of personnel costs [removed: and contractor fees] for finance, legal, human resources, [removed: information technology] and other administrative functions.

Other income (loss), net consists of interest income, primarily due to income earned on money market funds included in cash and cash equivalents and on marketable securities, partially offset by interest expense due on the [removed: 2025] Notes and amortization of premiums on our marketable securities.

| | | | [removed: 2023] [added: 2024] | | | | | | [removed: 2022] [added: 2023] | | | | | | [removed: 2021] [added: 2022] | | |

| Revenue | | | $ | [removed: 2,128,359] [added: 2,684,275] | | | | | $ | [removed: 1,675,100] [added: 2,128,359] | | | | | $ | [removed: 1,028,784] [added: 1,675,100] | |

| Cost of revenue (1)(2)(3) | | | [removed: 409,908] [added: 515,531] | | | | | | [removed: 346,743] [added: 409,908] | | | | | | [removed: 234,245] [added: 346,743] | | |

| Gross profit | | | [removed: 1,718,451] [added: 2,168,744] | | | | | | [removed: 1,328,357] [added: 1,718,451] | | | | | | [removed: 794,539] [added: 1,328,357] | | |

| Research and development (1)(3) | | | [removed: 962,447] [added: 1,152,703] | | | | | | [removed: 752,351] [added: 962,447] | | | | | | [removed: 419,769] [added: 752,351] | | |

| Sales and marketing (1)(2)(3) | | | [removed: 609,276] [added: 756,605] | | | | | | [removed: 495,288] [added: 609,276] | | | | | | [removed: 299,497] [added: 495,288] | | |

| General and administrative (1)(3) | | | [removed: 180,192] [added: 205,152] | | | | | | [removed: 139,413] [added: 180,192] | | | | | | [removed: 94,429] [added: 139,413] | | |

| Total operating expenses | | | [removed: 1,751,915] [added: 2,114,460] | | | | | | [removed: 1,387,052] [added: 1,751,915] | | | | | | [removed: 813,695] [added: 1,387,052] | | |

| Operating [removed: loss] [added: income (loss)] | | | [removed: (33,464)] [added: 54,284] | | | | | | [removed: (58,695)] [added: (33,464)] | | | | | | [removed: (19,156)] [added: (58,695)] | | |

| Interest expense (4) | | | [removed: (6,302)] [added: (7,068)] | | | | | | [removed: (16,535)] [added: (6,302)] | | | | | | [removed: (21,052)] [added: (16,535)] | | |

| Interest income and other income, net | | | [removed: 100,001] [added: 156,724] | | | | | | [removed: 37,160] [added: 100,001] | | | | | | [removed: 21,786] [added: 37,160] | | |

| Other income, net | | | [removed: 93,699] [added: 149,656] | | | | | | [removed: 20,625] [added: 93,699] | | | | | | [removed: 734] [added: 20,625] | | |

| Income (loss) before provision for income taxes | | | [removed: 60,235] [added: 203,940] | | | | | | [removed: (38,070)] [added: 60,235] | | | | | | [removed: (18,422)] [added: (38,070)] | | |

| Provision for income taxes | | | [removed: 11,667] [added: 20,194] | | | | | | [removed: 12,090] [added: 11,667] | | | | | | [removed: 2,323] [added: 12,090] | | |

| Net income (loss) | | | $ | [removed: 48,568] [added: 183,746] | | | | | $ | [removed: (50,160)] [added: 48,568] | | | | | $ | [removed: (20,745)] [added: (50,160)] | |

| Cost of revenue | | | $ | [removed: 17,578] [added: 26,221] | | | | | $ | [removed: 10,827] [added: 17,578] | | | | | $ | [removed: 4,565] [added: 10,827] | |

| Research and development | | | [removed: 313,096] [added: 363,301] | | | | | | [removed: 237,120] [added: 313,096] | | | | | | [removed: 101,942] [added: 237,120] | | |

| Sales and marketing | | | [removed: 101,937] [added: 122,079] | | | | | | [removed: 76,735] [added: 101,937] | | | | | | [removed: 35,035] [added: 76,735] | | |

and security for our customers’ entire technology stack.

Convertible Senior Notes

In December 2024, we completed a private offering of $1.0 billion aggregate principal amount of the 2029 Notes.

The total proceeds from the 2029 Notes offering were approximately $979.1 million, net of $20.9 million of debt issuance costs.

We used a portion of the net proceeds from the offering (i) to pay the $100.9 million cost of the privately negotiated capped call transactions relating to the 2029 Notes, or the Capped Calls and (ii) to repurchase for $196.8 million in privately negotiated transactions approximately $112.0 million in aggregate principal amount of the 2025 Notes, including accrued and unpaid interest.

Refer to Note 8, *Convertible Senior Notes*, to our consolidated financial statements included elsewhere in this Annual Report on Form 10-K for further details.

We also plan to continue to invest in building brand

As of December 31, 2024, we had approximately 462 customers with annual run-rate revenue, or ARR, of $1.0 million or more, up from 396 as of December 31, 2023.

platform and products.

Research and development costs are expensed as incurred, with the exception of certain software development costs which are eligible for capitalization.

| | | | 2024 | | | | | | 2023 | | | | | | 2022 | | |

| | | | 2024 | | | | | | 2023 | | | | | | 2022 | | |

| | | | 2024 | | | | | | 2023 | | | | | | 2022 | | |

| | | | 2024 | | | | | | 2023 | | | | | | Change | | | | | | % Change | | |

| Revenue | | | $ | 2,684,275 | | | | | $ | 2,128,359 | | | | | $ | 555,916 | | | | | 26 | | % |

| | | | 2024 | | | | | | 2023 | | | | | | Change | | | | | | % Change | | |

| Cost of revenue | | | $ | 515,531 | | | | | $ | 409,908 | | | | | $ | 105,623 | | | | | 26 | | % |

| | | | 2024 | | | | | | 2023 | | | | | | Change | | | | | | % Change | | |

| Research and development | | | $ | 1,152,703 | | | | | $ | 962,447 | | | | | $ | 190,256 | | | | | 20 | | % |

| | | | 2024 | | | | | | 2023 | | | | | | Change | | | | | | % Change | | |

| Sales and marketing | | | $ | 756,605 | | | | | $ | 609,276 | | | | | $ | 147,329 | | | | | 24 | | % |

| | | | 2024 | | | | | | 2023 | | | | | | Change | | | | | | % Change | | |

| | | | 2024 | | | | | | 2023 | | | | | | Change | | | | | | % Change | | |

We used $196.8 million of the net proceeds from the offering of the 2029 Notes to repurchase approximately $112.0 million in aggregate principal amount of the 2025 Notes, including accrued and unpaid interest, in privately negotiated transactions.

In connection with the partial retirement of the 2025 Notes, we entered into a termination agreement relating to a number of options corresponding to the number of 2025 Notes retired.

We received approximately $54.7 million in connection with such termination agreements.

We may from time to time seek to retire or purchase our 2025 Notes or the 2029 Notes, through cash purchases and/or exchanges for equity securities, in open market purchases, privately negotiated transactions or otherwise.

| | | | 2024 | | | | | | 2023 | | | | | | | | |

The increase in cash provided by financing activities was partially offset by repayments of the 2025 Notes of $196.8 million and purchases of Capped Calls related to the 2029 Notes of $100.9 million.

| | | | 2024 | | | | | | 2023 | | | | | | 2022 | | |

In recent quarters, we have seen slower usage growth from existing customers, which may be related to the uncertain macroeconomic environment.

Customers as of December 31, 2022 exclude customers from a then-recent acquisition, which did not contribute meaningful revenue during the fiscal year.

As the growth of our business has decelerated in recent quarters, our trailing 12-month dollar-based net retention rate has declined.

We have incurred, and expect to continue to incur, additional expenses as a result of operating as a public company, including costs to comply with the rules and regulations applicable to companies listed on a national securities exchange, costs related to compliance and reporting obligations, and increased expenses for insurance, investor relations and professional services.

| Research and development | | | 45 | | | | | | 45 | | | | | | 41 | | |

| Revenue | | | $ | 2,128,359 | | | | | $ | 1,675,100 | | | | | $ | 453,259 | | | | | 27 | | % |

| Cost of revenue | | | $ | 409,908 | | | | | $ | 346,743 | | | | | $ | 63,165 | | | | | 18 | | % |

| Research and development | | | $ | 962,447 | | | | | $ | 752,351 | | | | | $ | 210,096 | | | | | 28 | | % |

| Sales and marketing | | | $ | 609,276 | | | | | $ | 495,288 | | | | | $ | 113,988 | | | | | 23 | | % |

We believe that free cash flow is a measure of liquidity that provides useful information to our management, board of directors, investors and others in understanding and evaluating the strength of our liquidity and future ability to generate cash that can be used for strategic opportunities or investing in our business.

functionality and expense costs incurred for maintenance and minor upgrades and enhancements.

As of December 31, [removed: 2023,] [added: 2024,] we had [removed: $295.4 million] [added: $1.2 billion] in cash equivalents, and [removed: $2.3] [added: $2.9] billion in marketable securities, which consisted of corporate debt securities, commercial paper, certificates of deposit, U.S. government treasury securities, and U.S. government agency securities.

As of December 31, [removed: 2023,] [added: 2024,] a hypothetical 10% relative change in interest rates would not have a material impact on our consolidated financial statements.

[removed: On] [added: In] June [removed: 2, 2020,] [added: 2020 and December 2024,] we issued $747.5 million [added: and $1.0 billion] aggregate principal amount of the 2025 [removed: Notes.][added: Notes and 2029 Notes, respectively.]

The fair value of the [removed: 2025] Notes [removed: is] [added: are] subject to interest rate risk, market risk and other factors due to the conversion feature.

The fair value of the [removed: 2025] Notes will generally increase as our Class A common stock price increases and will generally decrease as our Class A common stock price declines.

The interest and market value changes affect the fair value of the [removed: 2025] Notes but do not impact our financial position, cash flows, or results of operations due to the fixed nature of the debt obligation.

Additionally, we carry the [removed: 2025] Notes at face value less unamortized [removed: discount and unamortized] issuance costs on our balance sheet, and we present the fair value for required disclosure purposes only.

[added: To date, we have not entered into any hedging arrangements] with respect to foreign currency risk or other derivative financial instruments, although we may choose to do so in the future.

To date, we have not entered into any hedging arrangements

Since [removed: then] [added: then,] we have continuously pushed to unify separate tools into an integrated monitoring and analytics platform, readily available to everyone who cares about applications and their impact on business.

And while we continue to broaden our capabilities in observability, we have [removed: continued to expand] [added: expanded] our platform into use cases beyond [removed: observability.][added: observability, including cloud security, software delivery, and cloud service management.]

[removed: From] [added: With] our founding goal of breaking down silos between Dev and Ops, we set out in 2010 to build a real-time data integration platform to turn chaos of having uncorrelated data from disparate sources into digestible and actionable insights.

Since launching our first use case with Infrastructure Monitoring in 2012, we have expanded our platform rapidly, and today, we offer end-to-end monitoring and analytics, powered by a common data model that is extensible for use cases across observability, security, [removed: and] software [removed: delivery.][added: delivery, and service management.]

Our proprietary platform combines the power of metrics, traces, logs, user sessions, security signals, and other data from a single agent and over [removed: 700] [added: 850] integrations to provide a unified view of infrastructure, application performance and the real-time events impacting performance.

Datadog is designed to be cloud agnostic and easy to deploy, with hundreds of out-of-the-box integrations, a built-in understanding of modern technology [removed: stacks] [added: stacks,] and extensive customizations.

According to Gartner, the IT Operations Management market represents a $81 billion opportunity in [removed: 2027.][added: 2028.]

Our data model was built to work at cloud scale with highly dynamic data sets and processes [removed: more than 10 trillion] [added: trillions of] events [removed: a day.][added: per hour.]

We were the first to combine the “three pillars of observability” - metrics, traces, and logs - [added: into a single end-to-end platform] with the introduction of our log management solution in 2018.

Today, our platform combines infrastructure monitoring, application performance monitoring, log management, user experience monitoring, security monitoring, [removed: incident] [added: cloud service] management, [removed: continuous integration] and [removed: continuous delivery, or CI/CD, pipeline and test] [added: developer-focused] monitoring in one integrated data platform.

Each of our products is integrated [removed: and] [added: and,] taken together, they provide the ability to view metrics, traces, logs, sessions, security signals, and other data side-by-side and to perform correlation analysis.

We have over [removed: 700] [added: 850] out-of-the-box integrations with technologies to provide significant value to our customers without the need for professional services.

Our SaaS platform is [removed: highly scalable and is] delivered through the cloud.

Our platform is massively scalable, currently monitoring [removed: more than tens] [added: trillions] of [removed: trillion] events [removed: a day] [added: per hour] and millions of servers and containers at any point in time.

As of December 31, [removed: 2023,] [added: 2024,] we had approximately [removed: 27,300] [added: 30,000] customers in over 150 countries.

Our base of approximately [removed: 27,300] [added: 30,000] customers as of December 31, [removed: 2023] [added: 2024] represents a significant opportunity for further sales expansion.

For example, in 2017 we launched [removed: APM,] [added: APM;] in 2018 we launched Log [removed: Management,] [added: Management;] in 2019 we launched Digital Experience Monitoring and Network Performance [removed: Monitoring,] [added: Monitoring;] in 2020 we launched Cloud SIEM, Continuous Profiler and Incident [removed: Management,] [added: Management;] in 2021 we launched Cloud Security Posture Management, Cloud Workload Security, Database Monitoring, and Sensitive Data [removed: Scanner,] [added: Scanner;] in 2022 we launched Application Security Management, Cloud Security Management, Audit Trail, Observability Pipelines, Cloud Cost Management, and Universal Service [removed: Monitoring, and] [added: Monitoring;] in 2023 we launched Application Vulnerability Management, Data Streams Monitoring, and Workflow [removed: Automation.][added: Automation; and in 2024 we launched Event Management and LLM Observability.]

Our platform is modular and includes infrastructure monitoring, application performance monitoring, log management, user experience monitoring, network performance monitoring, cloud and application security, developer-focused observability, and [removed: incident] [added: cloud service] management, as well as a range of shared features such as sophisticated dashboards, advanced analytics, collaboration tools, workflow automation, and alerting capabilities.

Our platform is supported by more than [removed: 700] [added: 850] integrations to seamlessly aggregate metrics and events across all of the systems and services that power digital businesses.

Our platform is massively scalable currently monitoring [removed: more than tens] [added: trillions] of [removed: trillion] events [removed: a day] [added: per hour] and millions of servers and containers.

The volume of data associated with combining infrastructure, [removed: APM and] [added: APM,] log [removed: management] [added: management, and other products] provides for a dramatically more robust data set than any of the individual data sources would provide on their own.

- [removed: 700+] [added: 850+] Fully Supported Integrations. We offer more than [removed: 700] [added: 850] out-of-the-box integrations including public cloud, private cloud, on-premise hardware, databases and third-party software.

[removed: - Data Streams Monitoring. Data Streams Monitoring (DSM)] [added: DSM] enables customers to easily track and improve the performance of event-driven applications.

- Network Monitoring. [added: Cloud] Network [removed: Performance] Monitoring enables the analysis and visualization of the flow of network traffic in on-premise, cloud-based or hybrid environments, helping customers determine when the network is the root cause of an issue.

With a unified platform and real-time observability context, [added: DevOps and security teams can quickly remediate issues and continuously improve their organization's security posture.]

As of December 31, [removed: 2023,] [added: 2024,] we had approximately [removed: 2,400] [added: 3,000] employees in our sales and marketing organization, including sales development, field sales, sales engineering, technical solutions, business development, sales operations, sales strategy, customer success and marketing personnel.

As of December 31, [removed: 2023,] [added: 2024,] we had approximately [removed: 2,400] [added: 3,100] employees in our research and development organization.

- with respect to Log Management, we compete with [removed: Splunk Inc.] [added: Cisco Systems, Inc.,] and Elastic N.V.

As of December 31, [removed: 2023,] [added: 2024,] we had approximately [removed: 5,200] [added: 6,500] employees operating across 33 countries.

Approximately [removed: 39%] [added: 41%] of our full-time employees as of that date were located outside of the United States, [removed: 36%] [added: 35%] of whom were located in France.

As of December 31, [removed: 2023,] [added: 2024,] we own [removed: thirty-seven] [added: forty-two] patents globally, [removed: five] [added: nine] patent applications pending for examination in the United States, three pending PCT applications, and [removed: six] [added: four] pending foreign patent applications.

As of December 31, [removed: 2023,] [added: 2024,] we own [removed: seven] [added: nine] registered trademarks in the United States and one hundred [removed: sixteen] [added: twenty-four] registered trademarks in various non-U.S. jurisdictions.

We require our employees, consultants and other third parties to enter into confidentiality and proprietary rights agreements and we [added: control and monitor access to our software, internal documentation, proprietary technology and other confidential information.]

In 2024, we launched Event Management to aggregate and consolidate alerts to accelerate remediation, and LLM Observability to help customers investigate how they can safely deploy and manage their models in production.

Flex Logs decouples storage from query, so customers can adjust their retention and querying capacity independently and serve more use cases within the Datadog platform.

- Data Observability. Data Observability brings production-level observability to the data engineering space, and consists of Data Streams Monitoring (DSM) and Data Jobs Monitoring (DJM).

DJM helps data platform teams and data engineers detect, remediate, and optimize problematic Spark and Databricks jobs,

- Error Tracking. Error Tracking reduces noise by intelligently grouping errors into issues across frontend and backend applications.

By providing rich debug context, down to lines of code, Error Tracking helps users identify root problems, accelerating incident resolution.

- LLM Observability. LLM, or Large Language Model, Observability provides end-to-end tracing of LLM chains with visibility into input-output, errors, token usage, and latency at each step.

LLM Observability seamlessly correlates LLM traces with APM and utilizes cluster visualization to identify drifts, enabling users to swiftly resolve issues and scale AI applications in production, while improving accuracy and reducing privacy risks.

- Event Management. Event Management uses AIOps to intelligently aggregate and consolidate alerts into one consistent view to help centralized operations teams discover and resolve issues faster.

Event Management helps teams paint a complete picture of incidents and their underlying causes by reducing noise and enriching events with observability context.

Starting in 2020, we began to develop products in cloud security, and in 2021, we expanded into developer-focused products.

In 2023, we launched Application Vulnerability Management to detect vulnerabilities in open-source libraries in production, Data Streams Monitoring to track and improve the performance of event-driven applications, and Workflow Automation to easily automate actions based on observability insights.

DSM automatically maps dependencies among services and queues to help measure end-to-end latencies, locate faulty queues or services and their owners, and remediate backed-up messages.

DevOps and security teams can quickly remediate issues and continuously improve their organization's security posture.

Headcount

Culture and Engagement

We strive to create a culture that promotes a healthy work-life balance, career growth, low drama, and a friendly office environment.

As part of our commitment to our employees, we periodically assess our culture by conducting global engagement surveys to gain a better understanding of what is important to our employees.

The areas in which we have been rated most favorable include employee pride and belief in Datadog's mission and purpose and alignment on how their work supports Datadog's goals and priorities.

Training and Development

Datadog promotes professional growth by offering individual- and team-specific training on an ongoing basis, as well as a wide range of learning programs delivered by our global Talent Development team.

We also provide robust manager training that shares effective tools and frameworks around recruiting, managing, and developing team members.

We continually invest in our employees’ career growth and provide employees with a wide range of development opportunities, including face-to-face, virtual, social, and self-directed learning and mentoring.

Compensation and Benefits

We offer industry competitive wages and benefits and are committed to maintaining a workplace environment that promotes employee productivity and satisfaction.

We believe our employees should have the support they need to maintain a strong work/life balance, grow personally and professionally, and save for their future.

While the philosophy around our benefits is the same worldwide, specific benefits vary regionally due to local regulations and preferences.

Diversity and Inclusion

At Datadog, diversity means making a conscious effort to reflect the many experiences and identities of the world outside, while treating each other with fairness and without bias.

Inclusion is the choice we make every day to foster an environment where people of all backgrounds not only belong but excel, so that together, as a company, we can succeed.

We are committed to creating inclusive work spaces for employees with diverse backgrounds and experiences.

Our diversity and inclusion programming includes a focus on training workshops and resources that increase education, promote moments of celebration, support belonging, and help our employees feel welcome and respected.

control and monitor access to our software, internal documentation, proprietary technology and other confidential information.

For the fiscal year ended December 31, [removed: 2023][added: 2024]

The aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrant, based on the closing price of the registrant’s shares of Class A common stock as reported by The Nasdaq Global Select Market on June 30, [removed: 2023] [added: 2024] was approximately [removed: $29.3] [added: $39.2] billion.

As of February [removed: 15, 2024,] [added: 6, 2025,] there were [removed: 305,929,910] [added: 317,257,399] shares of the registrant’s Class A common stock and [removed: 25,944,197] [added: 25,506,617] shares of the registrant’s Class B common stock, each with a par value of $0.00001 per share, outstanding.

Portions of the registrant’s Proxy Statement for its [removed: 2024] [added: 2025] Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein.

Such Proxy Statement will be filed with the Securities and Exchange Commission within 120 days of the registrant’s fiscal year ended December 31, [removed: 2023.][added: 2024.]

[removed: 2023] [added: 2024] ANNUAL REPORT ON FORM 10-K

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| [Item [removed: 7A.](#icf53ac730f0445c4bdd1a4665c2b41ea_79)] [added: 7A.](#ibf53bde5732d4193a1a58f76e69d8d61_82)] | | | [Quantitative and Qualitative Disclosures About Market [removed: Risk](#icf53ac730f0445c4bdd1a4665c2b41ea_79)] [added: Risk](#ibf53bde5732d4193a1a58f76e69d8d61_82)] | | | [removed: [54](#icf53ac730f0445c4bdd1a4665c2b41ea_79)] [added: [55](#ibf53bde5732d4193a1a58f76e69d8d61_82)] | | |

| [Item [removed: 8.](#icf53ac730f0445c4bdd1a4665c2b41ea_82)] [added: 8.](#ibf53bde5732d4193a1a58f76e69d8d61_85)] | | | [Financial Statements and Supplementary [removed: Data](#icf53ac730f0445c4bdd1a4665c2b41ea_82)] [added: Data](#ibf53bde5732d4193a1a58f76e69d8d61_85)] | | | [removed: [56](#icf53ac730f0445c4bdd1a4665c2b41ea_82)] [added: [57](#ibf53bde5732d4193a1a58f76e69d8d61_85)] | | |

| [Item [removed: 9.](#icf53ac730f0445c4bdd1a4665c2b41ea_160)] [added: 9.](#ibf53bde5732d4193a1a58f76e69d8d61_166)] | | | [Changes in and Disagreements with Accountants on Accounting and Financial [removed: Disclosure](#icf53ac730f0445c4bdd1a4665c2b41ea_160)] [added: Disclosure](#ibf53bde5732d4193a1a58f76e69d8d61_166)] | | | [removed: [88](#icf53ac730f0445c4bdd1a4665c2b41ea_160)] [added: [90](#ibf53bde5732d4193a1a58f76e69d8d61_166)] | | |

| [Item [removed: 9A.](#icf53ac730f0445c4bdd1a4665c2b41ea_163)] [added: 9A.](#ibf53bde5732d4193a1a58f76e69d8d61_169)] | | | [Controls and [removed: Procedures](#icf53ac730f0445c4bdd1a4665c2b41ea_163)] [added: Procedures](#ibf53bde5732d4193a1a58f76e69d8d61_169)] | | | [removed: [88](#icf53ac730f0445c4bdd1a4665c2b41ea_163)] [added: [90](#ibf53bde5732d4193a1a58f76e69d8d61_169)] | | |

| [Item [removed: 9B.](#icf53ac730f0445c4bdd1a4665c2b41ea_166)] [added: 9B.](#ibf53bde5732d4193a1a58f76e69d8d61_172)] | | | [Other [removed: Information](#icf53ac730f0445c4bdd1a4665c2b41ea_166)] [added: Information](#ibf53bde5732d4193a1a58f76e69d8d61_172)] | | | [removed: [89](#icf53ac730f0445c4bdd1a4665c2b41ea_166)] [added: [91](#ibf53bde5732d4193a1a58f76e69d8d61_172)] | | |

| Item 9C. | | | [Disclosure Regarding Foreign Jurisdictions that Prevent [removed: Inspections](#icf53ac730f0445c4bdd1a4665c2b41ea_169).] [added: Inspections](#ibf53bde5732d4193a1a58f76e69d8d61_178).] | | | [removed: [90](#icf53ac730f0445c4bdd1a4665c2b41ea_169)] [added: [92](#ibf53bde5732d4193a1a58f76e69d8d61_178)] | | |

| [Item [removed: 10.](#icf53ac730f0445c4bdd1a4665c2b41ea_175)] [added: 10.](#ibf53bde5732d4193a1a58f76e69d8d61_184)] | | | [Directors, Executive Officers and Corporate [removed: Governance](#icf53ac730f0445c4bdd1a4665c2b41ea_175)] [added: Governance](#ibf53bde5732d4193a1a58f76e69d8d61_184)] | | | [removed: [91](#icf53ac730f0445c4bdd1a4665c2b41ea_175)] [added: [93](#ibf53bde5732d4193a1a58f76e69d8d61_184)] | | |

| [Item [removed: 11.](#icf53ac730f0445c4bdd1a4665c2b41ea_178)] [added: 11.](#ibf53bde5732d4193a1a58f76e69d8d61_187)] | | | [Executive [removed: Compensation](#icf53ac730f0445c4bdd1a4665c2b41ea_178)] [added: Compensation](#ibf53bde5732d4193a1a58f76e69d8d61_187)] | | | [removed: [91](#icf53ac730f0445c4bdd1a4665c2b41ea_178)] [added: [93](#ibf53bde5732d4193a1a58f76e69d8d61_187)] | | |

| [Item [removed: 12.](#icf53ac730f0445c4bdd1a4665c2b41ea_181)] [added: 12.](#ibf53bde5732d4193a1a58f76e69d8d61_190)] | | | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder [removed: Matters](#icf53ac730f0445c4bdd1a4665c2b41ea_181)] [added: Matters](#ibf53bde5732d4193a1a58f76e69d8d61_190)] | | | [removed: [91](#icf53ac730f0445c4bdd1a4665c2b41ea_181)] [added: [93](#ibf53bde5732d4193a1a58f76e69d8d61_190)] | | |

| [Item [removed: 13.](#icf53ac730f0445c4bdd1a4665c2b41ea_184)] [added: 13.](#ibf53bde5732d4193a1a58f76e69d8d61_193)] | | | [Certain Relationships and Related Transactions, and Director [removed: Independence](#icf53ac730f0445c4bdd1a4665c2b41ea_184)] [added: Independence](#ibf53bde5732d4193a1a58f76e69d8d61_193)] | | | [removed: [91](#icf53ac730f0445c4bdd1a4665c2b41ea_184)] [added: [93](#ibf53bde5732d4193a1a58f76e69d8d61_193)] | | |

| [Item [removed: 14.](#icf53ac730f0445c4bdd1a4665c2b41ea_187)] [added: 14.](#ibf53bde5732d4193a1a58f76e69d8d61_196)] | | | [Principal Accounting Fees and [removed: Services](#icf53ac730f0445c4bdd1a4665c2b41ea_187)] [added: Services](#ibf53bde5732d4193a1a58f76e69d8d61_196)] | | | [removed: [91](#icf53ac730f0445c4bdd1a4665c2b41ea_187)] [added: [93](#ibf53bde5732d4193a1a58f76e69d8d61_196)] | | |

| [Item [removed: 15.](#icf53ac730f0445c4bdd1a4665c2b41ea_193)] [added: 15.](#ibf53bde5732d4193a1a58f76e69d8d61_202)] | | | [Exhibits, Financial Statement [removed: Schedules](#icf53ac730f0445c4bdd1a4665c2b41ea_193)] [added: Schedules](#ibf53bde5732d4193a1a58f76e69d8d61_202)] | | | [removed: [92](#icf53ac730f0445c4bdd1a4665c2b41ea_193)] [added: [94](#ibf53bde5732d4193a1a58f76e69d8d61_202)] | | |

| [Item [removed: 16.](#icf53ac730f0445c4bdd1a4665c2b41ea_196)] [added: 16.](#ibf53bde5732d4193a1a58f76e69d8d61_205)] | | | [Form 10-K [removed: Summary](#icf53ac730f0445c4bdd1a4665c2b41ea_196)] [added: Summary](#ibf53bde5732d4193a1a58f76e69d8d61_205)] | | | [removed: [94](#icf53ac730f0445c4bdd1a4665c2b41ea_196)] [added: [96](#ibf53bde5732d4193a1a58f76e69d8d61_205)] | | |

If our customers do not renew or expand their subscriptions with us, [added: or decrease their spend on] our [added: products, our] future operating results would be harmed.

- our ability to [removed: achieve or] sustain [removed: our] profitability;

The Gartner Content speaks as of its original publication date in December [removed: 2023] [added: 2024] (and not as of the date of this Annual Report on Form 10-K) and the opinions expressed in the Gartner Content are subject to change without notice.

| [PART I.](#ibf53bde5732d4193a1a58f76e69d8d61_19) | | | | | | | | |

| [Item 1C.](#ibf53bde5732d4193a1a58f76e69d8d61_31) | | | [Cybersecurity](#ibf53bde5732d4193a1a58f76e69d8d61_31) | | | [40](#ibf53bde5732d4193a1a58f76e69d8d61_31) | | |

| [PART III.](#ibf53bde5732d4193a1a58f76e69d8d61_181) | | | | | | | | |

| [PART IV.](#ibf53bde5732d4193a1a58f76e69d8d61_199) | | | | | | | | |

| [Signatures](#ibf53bde5732d4193a1a58f76e69d8d61_208) | | | | | | [97](#ibf53bde5732d4193a1a58f76e69d8d61_208) | | |

- We and our third-party service providers are subject to stringent and changing laws, regulations standards, and contractual obligations related to data privacy and security.

Actual or perceived failure by us or our third-party service providers to comply with such laws, regulations, standards, or contractual obligations could harm our business.

| [PART I.](#icf53ac730f0445c4bdd1a4665c2b41ea_19) | | | | | | | | |

| [Item 1](#icf53ac730f0445c4bdd1a4665c2b41ea_1658)[C](#icf53ac730f0445c4bdd1a4665c2b41ea_1658)[.](#icf53ac730f0445c4bdd1a4665c2b41ea_1658) | | | [Cybersecurity](#icf53ac730f0445c4bdd1a4665c2b41ea_1658) | | | [39](#icf53ac730f0445c4bdd1a4665c2b41ea_1658) | | |

| [PART III.](#icf53ac730f0445c4bdd1a4665c2b41ea_172) | | | | | | | | |

| [PART IV.](#icf53ac730f0445c4bdd1a4665c2b41ea_190) | | | | | | | | |

| [Signatures](#icf53ac730f0445c4bdd1a4665c2b41ea_199) | | | | | | [95](#icf53ac730f0445c4bdd1a4665c2b41ea_199) | | |

We have established an incident response plan that addresses our response to cybersecurity incidents, and we require periodic training for [removed: our employees on cybersecurity threats.]

Risk Factors in this Annual Report on Form 10-K, including without limitation “Strategic and Operational Risks—If we or [removed: our third-party service providers] [added: the third parties with whom we work] experience, or are unable to protect against cyber-attacks, ransomware, security incidents, or security breaches, or if unauthorized parties otherwise obtain access to or otherwise compromise our customers’ data, our data, or our platform and information technology systems, then our solution may be perceived as not being secure, our reputation may be harmed, demand for our platform and products may be reduced, and we may incur significant liabilities or additional expenses.”

For example, our Chief Information Security Officer receives regular reports on identified cybersecurity risks and [added: progress toward remediation from our security teams and both our Chief Information Security Officer and Chief Technology Officer are notified of cybersecurity incidents and the management of such incidents in accordance with the escalation procedures of our incident response plan.]

Emilio Escobar has served as our Chief Information Security [removed: Officer since September 2020.]

our employees on cybersecurity threats.

Officer since September 2020.

progress toward remediation from our security teams and both our Chief Information Security Officer and Chief Technology Officer are notified of cybersecurity incidents and the management of such incidents in accordance with the escalation procedures of our incident response plan.

Our current principal executive office is located in New York, New York and, as of December 31, [removed: 2023,] [added: 2024,] it consists of approximately [removed: 238,000] [added: 301,000] square feet of space under leases that expire in June 2033.

As of February [removed: 15, 2024,] [added: 6, 2025,] there were [removed: 305,929,910] [added: 41] holders of record of our Class A common stock and [removed: 25,944,197] [added: 24] holders of record of our Class B common stock.

During the year ended December 31, [removed: 2023,] [added: 2024,] we issued [removed: 176,687] [added: 40,577] shares of Class A common stock as consideration in acquisitions.

The graph below shows a comparison, from September 19, 2019 (the date our Class A common stock commenced trading on Nasdaq) through December 31, [removed: 2023,] [added: 2024,] of the cumulative total return to stockholders of our Class A common stock relative to the Nasdaq-100 Index, or the Nasdaq 100, and the Nasdaq Computer Index, or the Nasdaq Computer.

[removed: ][added: ]

| [Report of Independent Registered Public Accounting [removed: Firm](#icf53ac730f0445c4bdd1a4665c2b41ea_85)] [added: Firm](#ibf53bde5732d4193a1a58f76e69d8d61_88)] (PCAOB ID No. 34) | | | [removed: [57](#icf53ac730f0445c4bdd1a4665c2b41ea_85)] [added: [58](#ibf53bde5732d4193a1a58f76e69d8d61_88)] | | |

| [Consolidated Balance Sheets as of December 31, [removed: 2023] [added: 2024] and [removed: 2022](#icf53ac730f0445c4bdd1a4665c2b41ea_88)] [added: 2023](#ibf53bde5732d4193a1a58f76e69d8d61_91)] | | | [removed: [59](#icf53ac730f0445c4bdd1a4665c2b41ea_88)] [added: [60](#ibf53bde5732d4193a1a58f76e69d8d61_91)] | | |

| [Consolidated Statements of Operations for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#icf53ac730f0445c4bdd1a4665c2b41ea_91)] [added: 2022](#ibf53bde5732d4193a1a58f76e69d8d61_94)] | | | [removed: [60](#icf53ac730f0445c4bdd1a4665c2b41ea_91)] [added: [61](#ibf53bde5732d4193a1a58f76e69d8d61_94)] | | |

| [Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#icf53ac730f0445c4bdd1a4665c2b41ea_94)] [added: 2022](#ibf53bde5732d4193a1a58f76e69d8d61_97)] | | | [removed: [61](#icf53ac730f0445c4bdd1a4665c2b41ea_94)] [added: [62](#ibf53bde5732d4193a1a58f76e69d8d61_97)] | | |

| [Consolidated Statements of Stockholders’ [removed: Equity (Deficit) for] [added: Equity](#ibf53bde5732d4193a1a58f76e69d8d61_100) [for] the years ended December 31, [removed: 202](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[3](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[, 202](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[2](#icf53ac730f0445c4bdd1a4665c2b41ea_97) [and 202](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[1](#icf53ac730f0445c4bdd1a4665c2b41ea_97)] [added: 2024, 2023 and 2022](#ibf53bde5732d4193a1a58f76e69d8d61_100)] | | | [removed: [62](#icf53ac730f0445c4bdd1a4665c2b41ea_97)] [added: [63](#ibf53bde5732d4193a1a58f76e69d8d61_100)] | | |

| [Consolidated Statements of Cash Flows for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#icf53ac730f0445c4bdd1a4665c2b41ea_100)] [added: 2022](#ibf53bde5732d4193a1a58f76e69d8d61_103)] | | | [removed: [63](#icf53ac730f0445c4bdd1a4665c2b41ea_100)] [added: [64](#ibf53bde5732d4193a1a58f76e69d8d61_103)] | | |

| [Notes to Consolidated Financial [removed: Statements](#icf53ac730f0445c4bdd1a4665c2b41ea_103)] [added: Statements](#ibf53bde5732d4193a1a58f76e69d8d61_106)] | | | [removed: [64](#icf53ac730f0445c4bdd1a4665c2b41ea_103)] [added: [65](#ibf53bde5732d4193a1a58f76e69d8d61_106)] | | |

We have audited the accompanying consolidated balance sheets of Datadog, Inc. and its subsidiaries (the “Company”) as of December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] the related consolidated [added: balance sheets,] statements of operations, comprehensive income (loss), stockholders' [removed: equity (deficit),] [added: equity,] and cash flows for each of the three years in the period ended December 31, [removed: 2023,] [added: 2024,] and the related notes (collectively referred to as the “financial statements”).

In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] and the results of its operations and its cash flows for each of the three years in the period ended December 31, [removed: 2023,] [added: 2024,] in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the Company's internal control over financial reporting as of December 31, [removed: 2023,] [added: 2024,] based on criteria established in *Internal Control — Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February [removed: 23, 2024,] [added: 20, 2025,] expressed an unqualified opinion on the Company's internal control over financial reporting.

Critical Audit [removed: Matter][added: Matters]

The critical audit [removed: matter] [added: matters] communicated below [removed: is a matter] [added: are matters] arising from the current-period audit of the financial statements that [removed: was] [added: were] communicated or required to be communicated to the audit committee and that (1) [removed: relates] [added: relate] to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments.

The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit [removed: matter] [added: matters] below, providing [removed: a] separate [removed: opinion] [added: opinions] on the critical audit [removed: matter] [added: matters] or on the accounts or disclosures to which [removed: it relates.][added: they relate.]

Revenue Recognition — Identification of Performance Obligations – [removed: (Refer] [added: Refer] to Note 2 of the Financial [removed: Statements)][added: Statements]

◦We [removed: obtained an understanding, evaluated the design, and] tested the [removed: operating] effectiveness of management’s controls over revenue recognition.

| | | | December 31, [removed: 2023] [added: 2024] | | | | | | December 31, [removed: 2022] [added: 2023] | | |

| Cash and cash equivalents | | | $ | [added: 1,246,983 | | | | | $ |] 330,339 | | | | | $ | 338,985 | |

| Marketable securities | | | [removed: 2,252,559] [added: 2,942,076] | | | | | | [removed: 1,545,341] [added: 2,252,559] | | |

| Accounts receivable, net of allowance for credit losses of [removed: $12,096] [added: $16,302] and [removed: $5,626] [added: $12,096] as of December 31, [removed: 2023] [added: 2024] and [removed: 2022,] [added: 2023,] respectively | | | [removed: 509,279] [added: 598,919] | | | | | | [removed: 399,551] [added: 509,279] | | |

| Deferred contract costs, current | | | [removed: 44,938] [added: 56,095] | | | | | | [removed: 33,054] [added: 44,938] | | |

| Prepaid expenses and other current assets | | | [removed: 41,022] [added: 67,042] | | | | | | [removed: 27,303] [added: 41,022] | | |

| Total current assets | | | [removed: 3,178,137] [added: 4,911,115] | | | | | | [removed: 2,344,234] [added: 3,178,137] | | |

| Property and equipment, net | | | [removed: 171,872] [added: 226,970] | | | | | | [removed: 125,346] [added: 171,872] | | |

| Operating lease assets | | | [removed: 126,562] [added: 172,512] | | | | | | [removed: 87,629] [added: 126,562] | | |

| Goodwill | | | [removed: 352,694] [added: 360,381] | | | | | | [removed: 348,277] [added: 352,694] | | |

| Intangible assets, net | | | [removed: 9,617] [added: 3,711] | | | | | | [removed: 16,365] [added: 9,617] | | |

| Deferred contract costs, non-current | | | [removed: 73,728] [added: 86,573] | | | | | | [removed: 55,338] [added: 73,728] | | |

| Restricted cash | | | — | | | | | | [added: — | | | | | |] 3,303 | | |

| Other assets | | | [removed: 23,462] [added: 24,077] | | | | | | [removed: 24,360] [added: 23,462] | | |

| TOTAL ASSETS | | | $ | [removed: 3,936,072] [added: 5,785,339] | | | | | $ | [removed: 3,004,852] [added: 3,936,072] | |

| Accounts payable | | | $ | [removed: 87,712] [added: 107,731] | | | | | $ | [removed: 23,474] [added: 87,712] | |

| Accrued expenses and other current liabilities | | | [removed: 127,631] [added: 127,136] | | | | | | [removed: 171,158] [added: 127,631] | | |

| Operating lease liabilities, current | | | [removed: 21,974] [added: 31,970] | | | | | | [removed: 22,092] [added: 21,974] | | |

| Deferred revenue, current | | | [removed: 765,735] [added: 961,853] | | | | | | [removed: 543,024] [added: 765,735] | | |

| Total current liabilities | | | [removed: 1,003,052] [added: 1,862,713] | | | | | | [removed: 759,748] [added: 1,003,052] | | |

| Operating lease liabilities, non-current | | | [removed: 138,128] [added: 196,905] | | | | | | [removed: 76,582] [added: 138,128] | | |

| Convertible senior notes, [removed: net] [added: net, non-current] | | | [removed: 742,235] [added: 979,282] | | | | | | [removed: 738,847] [added: 742,235] | | |

| Deferred revenue, non-current | | | [removed: 21,210] [added: 22,693] | | | | | | [removed: 12,944] [added: 21,210] | | |

| Other liabilities | | | [removed: 6,093] [added: 9,383] | | | | | | [removed: 6,226] [added: 6,093] | | |

| Total liabilities | | | [removed: 1,910,718] [added: 3,070,976] | | | | | | [removed: 1,594,347] [added: 1,910,718] | | |

February 20, 2025

| Convertible senior notes, net, current | | | 634,023 | | | | | | — | | |

| Net income (loss) | | | $ | 183,746 | | | | | $ | 48,568 | | | | | $ | (50,160) | |

| Retirement of 2025 Convertible Senior Notes, Net | | | — | | | | | | — | | | | | | (83,813) | | | | | | — | | | | | | — | | | | | | (83,813) | | |

| Purchases of capped calls related to 2029 Convertible Senior Notes | | | — | | | | | | — | | | | | | (100,900) | | | | | | — | | | | | | — | | | | | | (100,900) | | |

| Settlement of capped calls related to 2025 Convertible Senior Notes | | | — | | | | | | — | | | | | | 54,136 | | | | | | — | | | | | | — | | | | | | 54,136 | | |

| Net income | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 183,746 | | | | | | 183,746 | | |

| BALANCE—December 31, 2024 | | | 342,118,782 | | | | | | $ | 3 | | | | | $ | 2,689,013 | | | | | $ | (4,701) | | | | | $ | 30,048 | | | | | $ | 2,714,363 | |

| Net income (loss) | | | $ | 183,746 | | | | | $ | 48,568 | | | | | $ | (50,160) | |

| Net loss on conversion inducement and capped call settlement | | | 599 | | | | | | — | | | | | | — | | |

| Proceeds from issuance of 2029 Convertible Senior Notes, net of issuance costs | | | 978,881 | | | | | | — | | | | | | — | | |

| Proceeds from settlement of capped calls related to 2025 Convertible Senior Notes | | | 54,725 | | | | | | — | | | | | | — | | |

| Purchase of capped calls related to 2029 Convertible Senior Notes | | | (100,900) | | | | | | — | | | | | | — | | |

| Repayments of 2025 Convertible Senior Notes | | | (196,753) | | | | | | — | | | | | | (3) | | |

All required significant financial segment information can be found within the consolidated financial statements.

On June 2, 2020, the Company issued $747.5 million aggregate principal amount of 0.125% Convertible Senior Notes due 2025 (the “2025 Notes”).

On December 12, 2024, the Company issued $1.0 billion aggregate principal amount of 0.00% Convertible Senior Notes due 2029 (the “2029 Notes”).

The Notes are classified as non-current liabilities until the reporting period date is within one year of maturity of the Notes or when the Company has received a redemption request, but settlement will occur after the reporting period date.

Research and development costs are expensed as incurred, with the exception of certain software development costs which are eligible for capitalization.

The Company adopted ASU No. 2023-07 on January 1, 2024 retrospectively and the adoption did not have a material effect on the Company's consolidated financial statements.

Refer to the Segments section in Note 2, *Basis of Presentation and Summary of Significant Accounting Policies*, to the consolidated financial statements for further details.

In November 2024, the FASB issued ASU No. 2024-04, *Debt-Debt with Conversion and Other Options (Subtopic 470-20)* ("ASU No. 2024-04"), which intends to clarify the conditions in which induced conversion applies to convertible debt by outlining three criteria that must be met for an entity to apply the induced conversion model.

The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2025 (and interim reporting periods within those annual reporting periods).

Early adoption is permitted as of the beginning of a reporting period if the entity has also adopted ASU 2020-06 for that period.

The Company early adopted ASU 2024-04 on January 1, 2024 on a prospective basis and applied the amendments in this ASU to the repurchase of the 2025 Notes.

Refer to Note 8*, Convertible Senior Notes*, to the consolidated financial statements for further details.

In November 2024, the FASB issued ASU No. 2024-03, *Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40)* ("ASU No. 2024-03"), which requires disaggregated disclosure of income statement expenses for public business entities.

The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements.

| | | | December 31, 2024 | | | | | | | | | | | | | | | | | | | | |

| Corporate debt securities | | | $ | 1,893,599 | | | | | $ | 4,243 | | | | | $ | (1,801) | | | | | $ | 1,896,041 | |

| U.S. government treasury securities | | | 466,765 | | | | | | 484 | | | | | | (789) | | | | | | 466,460 | | |

| Commercial paper | | | 390,058 | | | | | | 241 | | | | | | (16) | | | | | | 390,283 | | |

| Certificates of deposit | | | 187,711 | | | | | | 113 | | | | | | (22) | | | | | | 187,802 | | |

| Marketable securities | | | $ | 2,939,623 | | | | | $ | 5,081 | | | | | $ | (2,628) | | | | | $ | 2,942,076 | |

| Total | | | $ | 2,942,076 | |

| Commercial paper | | | — | | | | | | 390,283 | | | | | | — | | | | | | 390,283 | | |

| Certificates of deposit | | | — | | | | | | 187,802 | | | | | | — | | | | | | 187,802 | | |

| Total financial assets | | | $ | 1,193,927 | | | | | $ | 2,953,666 | | | | | $ | — | | | | | $ | 4,147,593 | |

| | | | December 31, 2024 | | | | | | December 31, 2023 | | |

2024 Acquisitions

February 23, 2024

| BALANCE—December 31, 2020 | | | 305,880,063 | | | | | | $ | 3 | | | | | $ | 1,103,305 | | | | | $ | 2,287 | | | | | $ | (148,163) | | | | | $ | 957,432 | |

| Effect of adoption of ASU 2020-06 | | | — | | | | | | — | | | | | | (173,070) | | | | | | — | | | | | | 16,802 | | | | | | (156,268) | | |

| BALANCE—January 1, 2021 | | | 305,880,063 | | | | | | 3 | | | | | | 930,235 | | | | | | 2,287 | | | | | | (131,361) | | | | | | 801,164 | | |

| Net loss | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | (20,745) | | | | | | (20,745) | | |

| Employee payroll taxes paid related to net share settlement under the employee stock purchase plan | | | — | | | | | | — | | | | | | (245) | | |

| Vesting of early exercised options | | | $ | — | | | | | $ | 33 | | | | | $ | 566 | |

| Restricted cash | | | — | | | | | | 3,303 | | | | | | 3,490 | | |

There are no segment managers who are held accountable for operations or results below the consolidated level.

In accounting for the issuance of the Company’s convertible senior notes (the “2025 Notes”), the 2025 Notes were separated into liability and equity components through December 31, 2020.

The carrying amounts of the liability component was calculated by measuring the fair value of similar liabilities that do not have associated convertible features.

The carrying amount of the equity component representing the conversion option was determined by deducting the fair value of the liability component from the par value of the respective 2025 Notes.

This difference represents the debt discount that is amortized to interest expense over the contractual terms of the 2025 Notes using the effective interest rate method.

The equity component was recorded in additional paid-in capital.

In accounting for the debt issuance costs related to the 2025 Notes, the Company allocated the total amount incurred to the liability and equity components of the 2025 Notes in the same proportion as the allocation of the proceeds.

The issuance costs attributable to the equity component were netted against the equity component in additional paid-in capital.

On January 1, 2021, the Company adopted ASU No. 2020-06, *Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity* (“ASU No. 2020-06”).

As a result of the adoption, the debt conversion option of $177.2 million and debt issuance costs of $4.1 million previously attributable to the equity component are no longer presented in equity.

Similarly, the debt discount, that is equal to the carrying value of the embedded conversion feature upon issuance, is no longer amortized into income as interest expense over the life of the instrument.

This resulted in a $16.8 million decrease to the opening balance of accumulated deficit, a $173.1 million decrease to the opening balance of additional paid-in capital and a $156.3 million increase to the opening balance of convertible senior notes, net on the consolidated balance sheet.

Research and development costs are expensed as incurred.

The Company also has certain options that have performance-based vesting conditions; stock-based compensation expense for such awards is recognized on a straight-line basis from the time the vesting condition is likely to be met through the time the vesting condition has been achieved.

In October 2021, the FASB issued ASU No. 2021-08, *Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers* (“ASU No. 2021-08”), which intends to improve the accounting for acquired revenue contracts with customers in a business combination by addressing diversity in practice and inconsistency related to recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer.

The Company early adopted ASU No. 2021-08 on January 1, 2022 on a prospective basis with no material impact on the Company's consolidated financial statements.

The amendments in this ASU should be applied retrospectively to all prior

periods presented in the financial statements.

| | | | December 31, 2022 | | | | | | | | | | | | | | | | | | | | |

| Corporate debt securities | | | $ | 813,598 | | | | | $ | 64 | | | | | $ | (7,554) | | | | | $ | 806,108 | |

| Commercial paper | | | 357,030 | | | | | | 64 | | | | | | (821) | | | | | | 356,273 | | |

| Certificates of deposit | | | 174,080 | | | | | | 37 | | | | | | (587) | | | | | | 173,530 | | |

| U.S. government treasury securities | | | 120,977 | | | | | | — | | | | | | (1,099) | | | | | | 119,878 | | |

| Marketable securities | | | $ | 1,555,403 | | | | | $ | 177 | | | | | $ | (10,239) | | | | | $ | 1,545,341 | |

| Total | | | $ | 2,252,559 | |

| Certificates of deposit | | | — | | | | | | 173,530 | | | | | | — | | | | | | 173,530 | | |

| Total financial assets | | | $ | 302,902 | | | | | $ | 1,547,834 | | | | | $ | — | | | | | $ | 1,850,736 | |

The Company does not consider these acquisitions to be material, individually or in aggregate.

2021 Acquisitions

In April 2021, the Company entered into a stock purchase agreement whereby the Company acquired all of the issued and outstanding shares of a SaaS based security platform company.

The consideration was approximately $219.4 million, comprising cash and Class A common stock.

The acquisition was accounted for as a business combination in accordance with ASC 805, *Business Combinations.* The purchase price was allocated to intangible assets in the amount of $12.0 million and goodwill in the amount of $204.3 million based on the respective estimated fair values.

Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of December 31, [removed: 2023.][added: 2024.]

Based on the evaluation of our disclosure controls and procedures as of December 31, [removed: 2023,] [added: 2024,] our Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were effective at the reasonable assurance level.

Our management conducted an evaluation of the effectiveness of our internal control over financial reporting as of December 31, [removed: 2023] [added: 2024] based on the criteria established in *Internal Control - Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Based on the results of its evaluation, management concluded that our internal control over financial reporting was effective as of December 31, [removed: 2023.][added: 2024.]

There was no change in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and Rule 15d15(d) of the Exchange Act that occurred during the fiscal quarter ended December 31, [removed: 2023] [added: 2024] that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

We have audited the internal control over financial reporting of Datadog, Inc. and its subsidiaries (the “Company”) as of December 31, [removed: 2023,] [added: 2024,] based on criteria established in *Internal Control — Integrated Framework (2013)* issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, [removed: 2023,] [added: 2024,] based on criteria established in *Internal Control — Integrated Framework (2013)* issued by COSO.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements as of and for the year ended December 31, [removed: 2023,] [added: 2024,] of the Company and our report dated February [removed: 23, 2024,] [added: 20, 2025,] expressed an unqualified opinion on those financial statements.

February 20, 2025

February 23, 2024

During the three months ended December 31, [removed: 2023,] [added: 2024,] the Company’s directors and officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted written plans intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c) for the sale of the Company’s securities as set forth in the table below.

| David Obstler | | | | | | Chief Financial Officer | | | | | | December [removed: 10, 2023] [added: 12, 2024] | | | | | | [removed: 200,000 (1)] [added: 107,500] | | | | | | [removed: March 15,] [added: December 31,] 2025 | | |

| Sean Walters | | | | | | Chief Revenue Officer | | | | | | December [removed: 14, 2023] [added: 10, 2024] | | | | | | Up to [removed: 86,510 (2)] [added: 122,068 (1)] | | | | | | [removed: February 11, 2025] [added: March 31, 2026] | | |

| (1)The [removed: amount includes 100,000 shares to be sold under the Rule 10b5-1 trading plan by the Obstler Children 2019 Trust. (2)The] actual number of shares that will be sold under the Rule 10b5-1 trading plan will be reduced by the number of shares sold pursuant to the Company’s election under its equity incentive plans to require the satisfaction of tax withholding obligations realized upon the vesting of RSUs and PSUs to be funded by a sell-to-cover transaction. The number of Company shares to be sold to satisfy the Company’s tax withholding obligation is not known at this time as it is dependent on future events, including the future trading price of the Company’s shares. [added: (2)The shares will be sold under a Rule 10b5-1 trading plan by the Callahan-Thernstrom Family Trust.] | | | | | | | | | | | | | | | | | | | | | | | | | | |

| Michael Callahan (2) | | | | | | Director | | | | | | December 12, 2024 | | | | | | 200,000 | | | | | | December 31, 2025 | | |

| Kerry Acocella | | | | | | General Counsel and Secretary | | | | | | December 13, 2024 | | | | | | Up to 47,668 (1) | | | | | | December 31, 2025 | | |

| Armelle de Madre | | | | | | Chief People Officer | | | | | | December 12, 2023 | | | | | | Up to 72,870 (2) | | | | | | March 31, 2025 | | |

| Dev Ittycheria | | | | | | Director | | | | | | December 12, 2023 | | | | | | 135,000 | | | | | | February 28, 2025 | | |

The information required by this Item (other than as set forth below) will be included in the proxy statement for our [removed: 2024] [added: 2025] annual meeting of stockholders to be filed with the SEC within 120 days after the end of our fiscal year ended December 31, [removed: 2023,] [added: 2024,] or the [removed: 2024] [added: 2025] Proxy Statement, and is incorporated herein by reference.

The information required by this Item will be included in the [removed: 2024] [added: 2025] Proxy Statement and is incorporated herein by reference.

The information required by this Item will be included in the [removed: 2024] [added: 2025] Proxy Statement and is incorporated herein by reference.

The information required by this Item will be included in the [removed: 2024] [added: 2025] Proxy Statement and is incorporated herein by reference.

The information required by this Item will be included in the [removed: 2024] [added: 2025] Proxy Statement and is incorporated herein by reference.

| [Report of Independent Registered Public Accounting [removed: Firm](#icf53ac730f0445c4bdd1a4665c2b41ea_85)] [added: Firm](#ibf53bde5732d4193a1a58f76e69d8d61_88)] | | | | | | [removed: [57](#icf53ac730f0445c4bdd1a4665c2b41ea_85)] [added: [58](#ibf53bde5732d4193a1a58f76e69d8d61_88)] | | |

| [Consolidated Balance Sheets as of December 31, [removed: 2023] [added: 2024] and [removed: 2022](#icf53ac730f0445c4bdd1a4665c2b41ea_88)] [added: 2023](#ibf53bde5732d4193a1a58f76e69d8d61_91)] | | | | | | [removed: [59](#icf53ac730f0445c4bdd1a4665c2b41ea_88)] [added: [60](#ibf53bde5732d4193a1a58f76e69d8d61_91)] | | |

| [Consolidated Statements of Operations for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#icf53ac730f0445c4bdd1a4665c2b41ea_91)] [added: 2022](#ibf53bde5732d4193a1a58f76e69d8d61_94)] | | | | | | [removed: [60](#icf53ac730f0445c4bdd1a4665c2b41ea_91)] [added: [61](#ibf53bde5732d4193a1a58f76e69d8d61_94)] | | |

| [Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#icf53ac730f0445c4bdd1a4665c2b41ea_94)] [added: 2022](#ibf53bde5732d4193a1a58f76e69d8d61_97)] | | | | | | [removed: [61](#icf53ac730f0445c4bdd1a4665c2b41ea_94)] [added: [62](#ibf53bde5732d4193a1a58f76e69d8d61_97)] | | |

| [Consolidated Statements of Stockholders’ [removed: Equity (Deficit) for] [added: Equity](#ibf53bde5732d4193a1a58f76e69d8d61_100) [for] the years ended December 31, [removed: 202](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[3](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[, 202](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[2](#icf53ac730f0445c4bdd1a4665c2b41ea_97) [and 202](#icf53ac730f0445c4bdd1a4665c2b41ea_97)[1](#icf53ac730f0445c4bdd1a4665c2b41ea_97)] [added: 2024, 2023 and 2022](#ibf53bde5732d4193a1a58f76e69d8d61_100)] | | | | | | [removed: [62](#icf53ac730f0445c4bdd1a4665c2b41ea_97)] [added: [63](#ibf53bde5732d4193a1a58f76e69d8d61_100)] | | |

| [Consolidated Statements of Cash Flows for the years ended December 31, [removed: 2023, 2022] [added: 2024, 2023] and [removed: 2021](#icf53ac730f0445c4bdd1a4665c2b41ea_100)] [added: 2022](#ibf53bde5732d4193a1a58f76e69d8d61_103)] | | | | | | [removed: [63](#icf53ac730f0445c4bdd1a4665c2b41ea_100)] [added: [64](#ibf53bde5732d4193a1a58f76e69d8d61_103)] | | |

| [Notes to Consolidated Financial [removed: Statements](#icf53ac730f0445c4bdd1a4665c2b41ea_103)] [added: Statements](#ibf53bde5732d4193a1a58f76e69d8d61_106)] | | | | | | [removed: [64](#icf53ac730f0445c4bdd1a4665c2b41ea_103)] [added: [65](#ibf53bde5732d4193a1a58f76e69d8d61_106)] | | |

| 3.2 | | | | | | [Amended and Restated Bylaws of Datadog, [removed: Inc.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519227783/d745413dex34.htm)] [added: Inc.](https://www.sec.gov/Archives/edgar/data/1561550/000156155023000039/exhibit32-amendedandrestat.htm)] | | | [removed: S-1] [added: 10-Q] | | | [removed: 333-233428] [added: 001-39051] | | | [removed: 3.4] [added: 3.2] | | | August [removed: 23, 2019] [added: 9, 2023] | | | | | |

| 4.4 | | | | | | [Form of Global Note representing Datadog, Inc.’s 0.125% Convertible Senior Notes due 2025](https://www.sec.gov/Archives/edgar/data/1561550/000119312520158639/d202955dex41.htm) | | | 8-K | | | 001-39051 | | | [removed: 4.2] [added: 4.1] | | | June 2, 2020 | | | | | |

| [removed: 10.2#] [added: 10.1#] | | | | | | [Datadog, Inc. 2012 Equity Incentive Plan, and terms of agreements thereunder.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519227783/d745413dex102.htm) | | | S-1 | | | 333-233428 | | | 10.2 | | | August 23, 2019 | | | | | |

| [removed: 10.3#] [added: 10.2#] | | | | | | [Datadog, Inc. 2019 Equity Incentive Plan and terms of agreements thereunder.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519240411/d745413dex103.htm) | | | S-1/A | | | 333-233428 | | | 10.3 | | | September 9, 2019 | | | | | |

| [removed: 10.4#] [added: 10.3#] | | | | | | [Datadog, Inc. 2019 Employee Stock Purchase Plan.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519240411/d745413dex104.htm) | | | S-1/A | | | 333-233428 | | | 10.4 | | | September 9, 2019 | | | | | |

| [removed: 10.5#] [added: 10.4#] | | | | | | [Performance Stock Units (PSU) Grant Notice and Award Agreement](https://www.sec.gov/Archives/edgar/data/1561550/000156155022000038/datadog-performancestockun.htm) | | | 10-Q | | | 001-39051 | | | 10.1 | | | August 8, 2022 | | | | | |

| [removed: 10.6#] [added: 10.5#] | | | | | | [Form of Indemnity Agreement entered into by and between Datadog, Inc. and each director and executive officer.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519240411/d745413dex105.htm) | | | S-1/A | | | 333-233428 | | | 10.5 | | | September 9, 2019 | | | | | |

| [removed: 10.7#] [added: 10.6#] | | | | | | [Offer Letter, by and between Datadog, Inc. and Olivier Pomel, dated May 20, 2011.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519240411/d745413dex106.htm) | | | S-1/A | | | 333-233428 | | | 10.6 | | | September 9, 2019 | | | | | |

| [removed: 10.8#] [added: 10.7#] | | | | | | [Offer Letter, by and between Datadog, Inc. and David Obstler, dated August 28, 2018.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519240411/d745413dex107.htm) | | | S-1/A | | | 333-233428 | | | [removed: 10.7] [added: 10.1] | | | September 9, 2019 | | | | | |

| [removed: 10.9#] [added: 10.8#] | | | | | | [Offer Letter, by and between Datadog, Inc. and Alexis Lê-Quôc, dated May 20, 2011.](https://www.sec.gov/Archives/edgar/data/1561550/000156155021000007/ex-101x20210331x10q.htm) | | | 10-Q | | | 001-39051 | | | 10.1 | | | May 7, 2021 | | | | | |

| [removed: 10.10#] [added: 10.9#] | | | | | | [Offer Letter, by and between Datadog, Inc. and Amit Agarwal, dated May 4, 2012.](https://www.sec.gov/Archives/edgar/data/1561550/000156155021000007/ex-102x20210331x10q.htm) | | | 10-Q | | | 001-39051 | | | 10.2 | | | May 7, 2021 | | | | | |

| [removed: 10.11#] [added: 10.10#] | | | | | | [Offer Letter, by and between Datadog, Inc. and Adam Blitzer, dated April 23, 2021.](https://www.sec.gov/Archives/edgar/data/1561550/000156155022000026/ex-101x20220331x10q.htm) | | | 10-Q | | | 001-39051 | | | 10.1 | | | May 6, 2022 | | | | | |

| [removed: 10.12#] [added: 10.11#] | | | | | | [Amended Offer Letter, by and between Datadog, Inc. and Sean Walters, dated January 5, 2022](https://www.sec.gov/Archives/edgar/data/1561550/000156155023000006/ddog-20221231xex1012.htm) | | | 10-K | | | 001-39051 | | | 10.12 | | | February 24, 2023 | | | | | |

| [removed: 10.18] [added: 10.19] | | | | | | [Agreement of Sublease, by and between Datadog, Inc. and Clearbridge Investments, LLC, dated July 9, 2020](https://www.sec.gov/Archives/edgar/data/1561550/000156459021009770/ddog-ex1014_433.htm) | | | 10-K | | | 001-39051 | | | 10.14 | | | March 1, 2021 | | | | | |

| [removed: 10.19] [added: 10.20] | | | | | | [Lease, by and between Datadog, Inc. and FC Eighth Ave., LLC, dated July 28,2022.](https://www.sec.gov/Archives/edgar/data/1561550/000156155022000038/datadog-leaseatnewyorktime.htm) | | | 10-Q | | | 001-39051 | | | 10.2 | | | August 8, 2022 | | | | | |

| 21.1 | | | | | | [List of Subsidiaries of Datadog, [removed: Inc.](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex211.htm)] [added: Inc.](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex211.htm)] | | | | | | | | | | | | | | | X | | |

| 23.1 | | | | | | [Consent of Deloitte & Touche LLP, independent registered public accounting [removed: firm.](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex231.htm)] [added: firm.](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex231.htm)] | | | | | | | | | | | | | | | X | | |

| 24.1 | | | | | | [Power of Attorney (incorporated by reference to the signature pages of this Annual Report on Form [removed: 10-K).](#icf53ac730f0445c4bdd1a4665c2b41ea_199)] [added: 10-K).](#ibf53bde5732d4193a1a58f76e69d8d61_208)] | | | | | | | | | | | | | | | X | | |

| 31.1 | | | | | | [Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex311.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex311.htm)] | | | | | | | | | | | | | | | X | | |

| 31.2 | | | | | | [Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex312.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex312.htm)] | | | | | | | | | | | | | | | X | | |

| 32.1* | | | | | | [Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex321.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex321.htm)] | | | | | | | | | | | | | | | X | | |

| 32.2* | | | | | | [Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of [removed: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex322.htm)] [added: 2002.](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex322.htm)] | | | | | | | | | | | | | | | X | | |

| 97.1* | | | | | | [Policy Relating to Recovery of Erroneously Awarded Compensation](https://www.sec.gov/Archives/edgar/data/1561550/000156155024000009/ddog-20231231xex971.htm) | | | [added: 10-K] | | | [added: 001-39051] | | | [added: 97.1] | | | [added: February 23, 2024] | | | [removed: X] | | |

| 4.5 | | | | | | [Indenture, dated December 12, 2024, between Datadog, Inc. and U.S. Bank National Association, as Trustee](https://www.sec.gov/Archives/edgar/data/1561550/000119312524277122/d853741dex41.htm) | | | 8-K | | | 001-39051 | | | 4.1 | | | December 12, 2024 | | | | | |

| 4.6 | | | | | | [Form of Global Note representing Datadog, Inc.’s 0.00% Convertible Senior Notes due 2029](https://www.sec.gov/Archives/edgar/data/1561550/000119312524277122/d853741dex41.htm) | | | 8-K | | | 001-39051 | | | 4.1 | | | December 12, 2024 | | | | | |

| 10.12# | | | | | | [Amended Offer Letter, by and between Datadog, Inc. and Yanbin](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex1012.htm)[g Li](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex1012.htm)[, dated](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex1012.htm) [June 27, 2024](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex1012.htm) | | | 10-K | | | | | | | | | | | | X | | |

| 10.18 | | | | | | [Form of Confirmation for Capped Call Transaction.](https://www.sec.gov/Archives/edgar/data/1561550/000119312524277122/d853741dex991.htm) | | | 8-K | | | 001-39051 | | | 99.1 | | | December 12, 2024 | | | | | |

| 19.1 | | | | | | [Insider Trading Policy](https://www.sec.gov/Archives/edgar/data/1561550/000156155025000025/ddog-20241231xex191.htm) | | | | | | | | | | | | | | | X | | |

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| 10.1 | | | | | | [Fourth Amended and Restated Investor Rights Agreement, dated December 28, 2015.](https://www.sec.gov/Archives/edgar/data/1561550/000119312519227783/d745413dex101.htm) | | | S-1 | | | 333-233428 | | | 10.1 | | | August 23, 2019 | | | | | |

| Date: February [removed: 23, 2024] [added: 20, 2025] | | | By: | | | */s/ Olivier Pomel* | | |

| */s/ Olivier Pomel* | | | | | | Chief Executive Officer and Director *(Principal Executive Officer)* | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ David Obstler* | | | | | | Chief Financial Officer *(Principal Financial and Accounting Officer)* | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Alexis Le-Qu*ô*c* | | | | | | Chief Technology Officer and Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Michael Callahan* | | | | | | Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Matthew Jacobson* | | | | | | Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Dev Ittycheria* | | | | | | Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Julie Richardson* | | | | | | Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Shardul Shah* | | | | | | Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Titi Cole* | | | | | | Director | | | | | | February [removed: 23, 2024] [added: 20, 2025] | | |

| */s/ Amit Agarwal* | | | | | | Director | | | | | | February 20, 2025 | | |

| Amit Agarwal | | | | | | | | | | | | | | |

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