數據狗 (DDOG) 2021 Q4 法說會逐字稿

Welcome to the Q4 2021 Datadog Earnings Conference Call. My name is John, and I'll be your operator for today's call. (Operator Instructions) And I will now turn the call over to Yuka Broderick, Head of Investor Relations.

歡迎參加 2021 年第四季度 Datadog 收益電話會議。我的名字是約翰，今天的電話我將擔任您的接線員。 （操作員說明）我現在將把電話轉給投資者關係主管 Yuka Broderick。

Thank you, John. Good morning, and thank you for joining us to review Datadog's fourth quarter and fiscal year 2021 financial results, which we announced in our press release issued this morning.

謝謝你，約翰。早上好，感謝您與我們一起審查 Datadog 第四季度和 2021 財年的財務業績，我們在今天上午發布的新聞稿中宣布了這些業績。

Joining me on the call today are Olivier Pomel, Datadog's Co-Founder and CEO; and David Obstler, Datadog's CFO.

今天和我一起參加電話會議的是 Datadog 的聯合創始人兼首席執行官 Olivier Pomel；和 Datadog 的首席財務官 David Obstler。

During this call, we will make forward-looking statements, including statements related to our future financial performance, our outlook for the first quarter and the fiscal year 2022, our gross margins and operating margins, including investments in R&D and go-to-market, our strategy, our product capabilities and our ability to capitalize on market opportunities. The words anticipate, believe, continue, estimate, expect, intend, will and similar expressions are intended to identify forward-looking statements or similar indications of future expectations. These statements reflect our views only as of today and are subject to a variety of risks and uncertainties that could cause actual results to differ materially.

在本次電話會議期間，我們將做出前瞻性陳述，包括與我們未來財務業績、我們對第一季度和 2022 財年的展望、我們的毛利率和營業利潤率（包括對研發和上市的投資）相關的陳述、我們的戰略、我們的產品能力和我們利用市場機會的能力。預期、相信、繼續、估計、期望、打算、將和類似的表達方式旨在識別前瞻性陳述或未來預期的類似跡象。這些陳述僅反映我們截至今天的觀點，並受到各種風險和不確定性的影響，這些風險和不確定性可能導致實際結果存在重大差異。

For a discussion of the material risks and other important factors that could affect our actual results, please refer to our Form 10-Q for the quarter ended September 30, 2021. Additional information will be made available in our upcoming Form 10-K for the year ended December 31, 2021, and other filings and reports that we may file with the SEC. These filings are available on the Investor Relations section of our website, along with a replay of this call. We will also discuss non-GAAP financial measures, which are reconciled to their most directly comparable GAAP financial measures in the tables in our earnings release, which is available at investors.datadoghq.com.

有關可能影響我們實際結果的重大風險和其他重要因素的討論，請參閱我們截至 2021 年 9 月 30 日的季度的 10-Q 表格。更多信息將在我們即將發布的 10-K 表格中提供截至 2021 年 12 月 31 日的年度，以及我們可能向 SEC 提交的其他文件和報告。這些文件可在我們網站的投資者關係部分以及本次電話會議的重播中找到。我們還將討論非 GAAP 財務指標，這些指標與我們收益發布中表格中最直接可比的 GAAP 財務指標相一致，可在investors.datadoghq.com 上獲取。

With that, I'd like to turn the call over to Olivier.

有了這個，我想把電話轉給 Olivier。

Thanks, Yuka, and thank you all for joining us this morning. We are very pleased with our performance in Q4 where we showed high growth at scale as well as strong business efficiencies. Looking back at 2021, not only do we continue to see a very strong demand environment, we also kept innovating at a rapid pace. And our team executed extremely well to help our customers manage complexity in the cloud area.

謝謝，Yuka，感謝大家今天早上加入我們。我們對我們在第四季度的表現感到非常滿意，我們表現出規模的高速增長以及強大的業務效率。回顧 2021 年，我們不僅繼續看到非常強勁的需求環境，而且還在快速創新。我們的團隊執行得非常出色，可以幫助我們的客戶管理雲領域的複雜性。

Let's start with a quick summary of Q4. Revenue was $326 million, an increase of 84% year-over-year and above the high end of our guidance range. We had about 18,800 customers, up from about 14,200 at the end of last year. We ended the quarter with about 2,010 customers with ARR of $100,000 or more, up from 1,228 at the end of last year. These customers generated about 83% of our ARR.

讓我們從第四季度的快速總結開始。收入為 3.26 億美元，同比增長 84%，高於我們指導範圍的高端。我們有大約 18,800 名客戶，高於去年年底的約 14,200 名。我們在本季度末有大約 2,010 名客戶，ARR 為 100,000 美元或更多，高於去年年底的 1,228 名。這些客戶產生了我們大約 83% 的 ARR。

We had 216 customers with ARR of $1 million or more, which is more than double the 101 we had at the end of last year. The leverage and efficiency of our business model is coming through with free cash flow of $107 million. And our dollar-based net retention rate continued to be over 130% as customers increase their usage and adopted our newer product.

我們有 216 名客戶的 ARR 達到或超過 100 萬美元，是去年年底的 101 名的兩倍多。我們的商業模式的槓桿作用和效率正在通過 1.07 億美元的自由現金流來實現。隨著客戶增加使用量並採用我們的新產品，我們基於美元的淨保留率繼續超過 130%。

At a high level, positive business trends from recent quarters continued in Q4. Business growth from existing customers exceeded our expectations this quarter, and we saw strong growth across all the products in our platform in all business segments. We had record new logo ARR in Q4, including some large new enterprise wins. And churn remains low and in line with historical rates. All these factors together led to another record quarter of ARR added.

在較高的水平上，最近幾個季度的積極業務趨勢在第四季度繼續存在。本季度現有客戶的業務增長超出了我們的預期，我們平台所有業務領域的所有產品都實現了強勁增長。我們在第四季度取得了創紀錄的新徽標 ARR，其中包括一些大型新企業的勝利。流失率仍然很低，與歷史比率一致。所有這些因素共同導致 ARR 增加了另一個創紀錄的季度。

Next, our platform strategy continues to resonate in the market. As of the end of Q4, 78% of customers were using 2 or more product, up from 72% a year ago. 33% of customers were using 4 or more products, up from 22% a year ago. And as a sign of further adoption of our platform, we saw that 10% of our customers were using 6 or more product, which is up from 3% last year.

接下來，我們的平台戰略繼續在市場上引起共鳴。截至第四季度末，78% 的客戶使用 2 種或更多產品，高於一年前的 72%。 33% 的客戶使用 4 種或更多產品，高於一年前的 22%。作為進一步採用我們平台的標誌，我們看到 10% 的客戶正在使用 6 種或更多產品，高於去年的 3%。

We saw strong growth across our platform in Q4. Year-over-year growth of infrastructure monitoring ARR has accelerated in Q4 compared to Q3. In addition to that, APM suite and log management products continue to be in hyper-growth mode. And we're very pleased to report that our newer products added about $100 million in ARR in 2021. These are the newer products we launched in 2019, which excludes core infrastructure, core APM and log management.

我們在第四季度看到了整個平台的強勁增長。與第三季度相比，第四季度基礎設施監控 ARR 的同比增長有所加快。除此之外，APM 套件和日誌管理產品繼續處於高速增長模式。我們很高興地報告，我們的新產品在 2021 年增加了約 1 億美元的 ARR。這些是我們在 2019 年推出的新產品，不包括核心基礎設施、核心 APM 和日誌管理。

Now let's move on to product and R&D, where our teams have not been slowing down and delivered another strong quarter of innovation. We announced the general availability of Sensitive Data Scanner in December. Sensitive Data Scanner gives customers an easy and cost-effective method to discover, classify and protect sensitive information. With modern applications, data moves across many important teams, making it difficult to know when services are storing sensitive data. This is particularly important for enterprises in regulated industries like health care or financial services. Sensitive Data Scanner is available today for log management, and we'll be working to extend it into other areas of the platform in 2022.

現在讓我們繼續關注產品和研發，我們的團隊並沒有放慢腳步，並交付了又一個強勁的季度創新。我們在 12 月宣布了 Sensitive Data Scanner 的全面可用性。 Sensitive Data Scanner 為客戶提供了一種簡單且經濟高效的方法來發現、分類和保護敏感信息。對於現代應用程序，數據在許多重要團隊之間移動，因此很難知道服務何時存儲敏感數據。這對於醫療保健或金融服務等受監管行業的企業尤為重要。敏感數據掃描器今天可用於日誌管理，我們將在 2022 年將其擴展到平台的其他領域。

We also announced this morning the acquisition of CoScreen, a screen-sharing platform that allows participants to interact with a joint work space in real time. Engineering is a team sport. CoScreen lets us bring individual work into a shared team environment. And unlike general purpose video conferencing tools, which are one too many and focus on presentation and conversation, CoScreen is many to many, allowing multiple participants to share and collaborate in each other's windows as if they were local applications. We believe this will help our customers in a number of use cases such as incident response and aligns with our [founding] goal of breaking down silos between teams.

我們今天早上還宣布收購 CoScreen，這是一個允許參與者與聯合工作空間實時交互的屏幕共享平台。工程是一項團隊運動。 CoScreen 讓我們將個人工作帶入共享的團隊環境。與通用視頻會議工具（一種太多且專注於演示和對話）不同，CoScreen 是多對多的，允許多個參與者在彼此的窗口中共享和協作，就好像它們是本地應用程序一樣。我們相信這將在事件響應等許多用例中幫助我們的客戶，並符合我們打破團隊之間孤島的[創始]目標。

Now let's take a moment to review our accomplishments in 2021. We ended the year with 13 generally available products, up from 9 at the end of 2020. We significantly extended our visibility capabilities in 2021. In infrastructure monitoring, we made it even easier to instrument and monitor. We launched over [80] new integrations covering cloud, CDN, web platforms, automation platforms and more. We now have over 500 integrations and continue to go deeper into cloud platforms, including AWS, Azure and GCP. We launched network device monitoring for physical network devices and appliances. We created new [container-centric] views as our customers continue adopting Kubernetes at massive scale. On the serverless front, we have expanded our coverage to include visibility into not only the functions customers develop, but also the ecosystem of data, security and routing services that surround them. And we launched a beta of universal service monitoring, which captures service level health and performance without needing to modify any application code.

現在讓我們花點時間回顧一下我們在 2021 年取得的成就。我們在 2021 年底推出了 13 種普遍可用的產品，而 2020 年底只有 9 種。我們在 2021 年顯著擴展了我們的可見性能力。在基礎設施監控方面，我們更容易儀器和監視器。我們推出了超過 [80] 個新的集成，涵蓋雲、CDN、Web 平台、自動化平台等。我們現在有 500 多個集成，並繼續深入到雲平台，包括 AWS、Azure 和 GCP。我們推出了針對物理網絡設備和設備的網絡設備監控。隨著我們的客戶繼續大規模採用 Kubernetes，我們創建了新的 [以容器為中心的] 視圖。在無服務器方面，我們擴大了覆蓋範圍，不僅包括對客戶開發的功能的可見性，還包括圍繞它們的數據、安全和路由服務的生態系統。我們推出了通用服務監控測試版，無需修改任何應用程序代碼即可捕獲服務級別的健康狀況和性能。

Our APM suite was named a leader in the Gartner Magic Quadrant in 2021, and we doubled down on innovation in APM. We expanded Real User Monitoring meaningfully, particularly for Android and iOS mobile devices. we launched Session Replay, database monitoring and automated tracking of [faulty] deployment. We expanded Synthetic Monitoring with support of numerous new browsers and locations. In Continuous Profiler, we added support to profile many new languages such as .NET, Ruby, PHP, CC++ (sic) [C++] and Node.js. And we invested to get close with developers day-to-day experience with synthetic testing in CI pipelines [not detecting] problems before they happen in production, they are tracking now covering front-end devices and back-end services and source code integration enabling developers to tie production to the right line of code.

我們的 APM 套件在 2021 年的 Gartner 魔力像限中被評為領導者，我們在 APM 的創新上加倍努力。我們有意義地擴展了真實用戶監控，特別是針對 Android 和 iOS 移動設備。我們推出了 Session Replay、數據庫監控和 [faulty] 部署的自動跟踪。我們擴展了 Synthetic Monitoring，支持眾多新的瀏覽器和位置。在 Continuous Profiler 中，我們添加了對許多新語言的分析支持，例如 .NET、Ruby、PHP、CC++ (sic) [C++] 和 Node.js。我們投資以接近開發人員在 CI 管道中進行綜合測試的日常經驗 [未檢測] 問題在生產中發生之前，他們現在正在跟踪涵蓋前端設備和後端服務以及源代碼集成啟用開發人員將生產與正確的代碼行聯繫起來。

In log management, we continue to aggressively invest, providing more sophisticated analytical and governance capabilities and giving our customers more flexibility with data storage and retention. Our improvements unlock many sophisticated use cases, for example, in cybersecurity and business analysis.

在日誌管理方面，我們繼續積極投資，提供更複雜的分析和治理能力，並為我們的客戶提供更大的數據存儲和保留靈活性。我們的改進解鎖了許多複雜的用例，例如在網絡安全和業務分析方面。

We also announced Online Archives, a new long-term data store for extremely large data volumes. Now further expanding observability to development workflows, we launched CI Visibility to help developers ship faster and more safely. And going beyond observability, we launched our Cloud Security Platform, including Cloud SIEM, Cloud Security Posture Management and Cloud Workload Security. In addition to those, our application security product is currently in beta. And we're now very pleased with our early momentum in security as we have thousands of customers using our cloud security products today.

我們還發布了 Online Archives，這是一種新的長期數據存儲，可存儲大量數據。現在進一步將可觀察性擴展到開發工作流程，我們推出了 CI Visibility 以幫助開發人員更快、更安全地發布。除了可觀察性，我們還推出了雲安全平台，包括雲 SIEM、雲安全態勢管理和雲工作負載安全。除此之外，我們的應用程序安全產品目前處於測試階段。我們現在對我們早期的安全勢頭感到非常滿意，因為我們今天有成千上萬的客戶使用我們的雲安全產品。

We also kept [opening up] Datadog as a platform with the release of Datadog apps. And finally, we'll continue to invest and innovate with Watchdog, Datadog's AI engine. Watchdog can automatically detect and [correct anomalies], and we've been busy extending Watchdog to provide information in context throughout our platform. I want to thank our engineering and product teams for their hard work and their relentless focus on our customers.

隨著 Datadog 應用程序的發布，我們還繼續 [開放] Datadog 作為一個平台。最後，我們將繼續投資和創新 Datadog 的 AI 引擎 Watchdog。 Watchdog 可以自動檢測和[糾正異常]，我們一直在忙於擴展 Watchdog 以在整個平台中提供上下文信息。我要感謝我們的工程和產品團隊的辛勤工作以及他們對客戶的不懈關注。

Now moving on to sales and marketing. Earlier this month, we announced the promotion of Sean Walters to Chief Revenue Officer. This is a well-deserved promotion for Sean, who has been an enterprise sales leader at Datadog for 4 years now and have shown excellence in building strong teams and delivering high productivity. We've all been impressed with his performance over the past few quarters as well. Sean has a deep experience in the field with over 20 years of increasing responsibilities in software sales, and we are excited to see him build on his successes as CRO.

現在轉向銷售和營銷。本月早些時候，我們宣布將 Sean Walters 提升為首席營收官。對於 Sean 來說，這是當之無愧的晉升，他在 Datadog 擔任企業銷售主管已有 4 年時間，在建立強大的團隊和提供高生產力方面表現出色。他在過去幾個季度的表現也給我們留下了深刻的印象。 Sean 在該領域擁有豐富的經驗，20 多年來在軟件銷售方面的職責不斷增加，我們很高興看到他在 CRO 的成功基礎上再接再厲。

In addition to this, we are pleased to have received a FedRAMP moderate authorization. As a result, we can now sell to U.S. Federal Government agencies as well as the other public sector customers who use FedRAMP as an indicator of compliance and security. We have been working to build our go-to-market teams for the public sector, and we intend to expand on those efforts aggressively.

除此之外，我們很高興收到了 FedRAMP 適度授權。因此，我們現在可以向使用 FedRAMP 作為合規性和安全性指標的美國聯邦政府機構以及其他公共部門客戶進行銷售。我們一直在努力為公共部門建立我們的上市團隊，我們打算積極擴大這些努力。

We also announced a global strategic partnership with AWS. This is a recognition of our success and growth with AWS and our commitment to further invest to accelerate our joint opportunities. Among the areas of further partnership, we have already integrated Datadog more tightly into the AWS marketplace. We are also working with AWS to build deeper integrations not only for observability, but also for security use cases, and we are also planning to extend our joint go-to-market activities. Meanwhile, our sales teams continue to execute at a very high level. So let's discuss some wins for Q4.

我們還宣布與 AWS 建立全球戰略合作夥伴關係。這是對我們在 AWS 方面的成功和發展以及我們承諾進一步投資以加快我們的聯合機會的認可。在進一步合作的領域中，我們已經將 Datadog 更緊密地集成到 AWS 市場中。我們還與 AWS 合作構建更深層次的集成，不僅是為了可觀察性，還為了安全用例，我們還計劃擴展我們的聯合上市活動。與此同時，我們的銷售團隊繼續保持高水平的執行力。因此，讓我們討論第四季度的一些勝利。

First, we had a 6-year land deal with a major U.S. airline. This customer has chosen Datadog as the de facto monitoring solution for all new IT projects and applications. They plan to start with 6 products in the Datadog platform with an expectation to expand significantly with more teams and applications over time.

首先，我們與一家美國主要航空公司簽訂了為期 6 年的土地協議。該客戶已選擇 Datadog 作為所有新 IT 項目和應用程序的實際監控解決方案。他們計劃從 Datadog 平台中的 6 個產品開始，期望隨著時間的推移隨著更多的團隊和應用程序而顯著擴展。

Next, we had a 7-figure up-sell with a major European car company. Prior to using Datadog, this customer has 5 disparate monitoring tools, which created [focus alerts] while leaving gaps in coverage. With Datadog, they were able to break down silos between teams and reduce the frequency and duration of outages.

接下來，我們與一家主要的歐洲汽車公司進行了 7 位數的追加銷售。在使用 Datadog 之前，該客戶有 5 個不同的監控工具，這些工具創建了 [焦點警報]，同時在覆蓋範圍內留下了空白。借助 Datadog，他們能夠打破團隊之間的孤島並減少中斷的頻率和持續時間。

Next, we had an up-sell to add figures of ARR with a major financial infrastructure company. This customer has consolidated multiple monitoring tools in Datadog, helping them ensure stability and support growth. This customer estimate savings of [45%] by migrating to Datadog. And the up-sell also includes new products such as Cloud SIEM, Cloud Workload Security and Cloud Security Posture Management. And this customer now uses 10 Datadog products.

接下來，我們向一家大型金融基礎設施公司追加了 ARR 數據。該客戶在 Datadog 中整合了多個監控工具，幫助他們確保穩定性並支持增長。該客戶估計通過遷移到 Datadog 可節省 [45%]。追加銷售還包括 Cloud SIEM、Cloud Workload Security 和 Cloud Security Posture Management 等新產品。而這個客戶現在使用了 10 個 Datadog 產品。

Next, we had a 7-figure up-sell with a multinational beverage conglomerate. This expansion makes Datadog their global observability standards with enterprise adoption across 6 international zones. Thanks to Datadog log correlation, what used to take 3 people an hour of log data gathering, now it takes 1 person less than 10 minutes.

接下來，我們與一家跨國飲料集團進行了 7 位數的追加銷售。這種擴展使 Datadog 成為其全球可觀察性標準，企業在 6 個國際區域採用。得益於 Datadog 日誌關聯，過去需要 3 個人一個小時收集日誌數據，現在需要 1 個人不到 10 分鐘。

And finally, we wanted to spend some time discussing our largest-ever multimillion dollar land deal with a major media company. This media conglomerate sees massive amounts of traffic with this customer-facing content. And the most critical content such as live sports and entertainment requires highly optimized observability.

最後，我們想花一些時間與一家大型媒體公司討論我們有史以來最大的價值數百萬美元的土地交易。這家媒體集團通過這種面向客戶的內容看到了大量的流量。而直播體育和娛樂等最關鍵的內容需要高度優化的可觀察性。

This customer also decided to embark upon a significant digital transformation project, eliminating these data centers over time in favor of cloud. This operational overhaul hinged on proper end-to-end observability. But the customers' existing monitoring solutions failed to innovate quickly enough to support his growth and increasing complexity.

該客戶還決定著手進行一項重要的數字化轉型項目，隨著時間的推移消除這些數據中心，轉而採用雲計算。這種運營大修取決於適當的端到端可觀察性。但客戶現有的監控解決方案未能以足夠快的速度創新來支持他的成長和日益增加的複雜性。

In addition, reliance in open-source tooling was a strain on engineering resources. Datadog provided a single integrated cloud solution, and the customer plans to replace 8 different commercial [open source] tools with the Datadog platform, starting with 5 of our products. So as you can see, our go-to-market teams are successfully helping both new and existing customers get value out of Datadog. And I want to congratulate them for their incredible work this quarter.

此外，依賴開源工具對工程資源造成壓力。 Datadog 提供了單一的集成雲解決方案，客戶計劃用 Datadog 平台替換 8 個不同的商業 [開源] 工具，從我們的 5 個產品開始。如您所見，我們的上市團隊正在成功地幫助新老客戶從 Datadog 中獲得價值。我要祝賀他們本季度出色的工作。

Now looking ahead to 2022 and beyond. We continue to see digital transformation and cloud migration as critical for our existing and prospective customers. The cloud and other next-gen technologies are creating complexity that customers need to understand and manage. Meanwhile, security threats can occur anywhere in this broad and dynamic set of infrastructure and applications, making identifying vulnerability and attacks absolutely crucial.

現在展望 2022 年及以後。我們繼續將數字化轉型和雲遷移視為我們現有和潛在客戶的關鍵。雲和其他下一代技術正在創造客戶需要理解和管理的複雜性。同時，安全威脅可能發生在這組廣泛而動態的基礎設施和應用程序中的任何地方，因此識別漏洞和攻擊絕對至關重要。

So there's a lot of demand out there for observability and security for modern stack. As a result, we continue to feel that we are still very early with respect to our products and our market opportunity. And looking forward to 2022, we will make further progress in expanding the Datadog platform. We have a lot to do, and we're excited about what's in front of us.

因此，對於現代堆棧的可觀察性和安全性有很多需求。因此，我們仍然覺得我們在產品和市場機會方面仍處於早期階段。展望2022年，我們將在Datadog平台的擴展上取得進一步的進展。我們有很多事情要做，我們對擺在我們面前的事情感到興奮。

On a final note, we feel that 2021 was a very successful year for Datadog, which we recognize, and it's been a tough time for many others. This is why we're happy to report that together with our employees, Datadog donated over $3 million to nonprofit global organizations at the end of the year, and we look forward to giving back more to our communities in 2022.

最後一點，我們認為 2021 年對於 Datadog 來說是非常成功的一年，我們認識到這一點，而對於其他許多人來說，這是一段艱難的時期。這就是為什麼我們很高興地報告，Datadog 與我們的員工一起在年底向非營利性全球組織捐贈了超過 300 萬美元，我們期待在 2022 年回饋我們的社區。

With that, I will turn the call over to our CFO for a review of financial performance and guidance. David?

有了這個，我將把電話轉給我們的首席財務官，以審查財務業績和指導。大衛？

Thanks, Olivier. In summary, we had a very strong Q4 and fiscal year 2021. Revenue was $326 million, up 84% year-over-year and up 21% quarter-over-quarter. Usage growth with our existing customers exceeded our expectations. Customers are finding value from adopting more products on our platform. And new logo ARR grew robustly in Q4.

謝謝，奧利維爾。總之，我們的第四季度和 2021 財年表現非常強勁。收入為 3.26 億美元，同比增長 84%，環比增長 21%。我們現有客戶的使用增長超出了我們的預期。客戶正在通過在我們的平台上採用更多產品來尋找價值。新徽標 ARR 在第四季度強勁增長。

Let's go into some more of the details. First, growth of existing customers was strong in Q4. And our dollar-based net retention rate remained above 130% for the 18th consecutive quarter.

讓我們來看看更多的細節。首先，第四季度現有客戶增長強勁。我們的美元淨保留率連續第 18 個季度保持在 130% 以上。

Usage growth was very strong. Our customers expanded the usage of our largest products meaningfully. Infrastructure monitoring year-over-year ARR growth accelerated from Q3 levels. And the APM suite and log management products remain in hyper-growth mode. And our newer products are all growing very rapidly.

使用增長非常強勁。我們的客戶有意義地擴大了我們最大產品的使用範圍。基礎設施監測的 ARR 同比增長從第三季度的水平加速。 APM 套件和日誌管理產品仍處於超增長模式。我們的新產品都在快速增長。

We also saw strong ARR growth in each geographical region. North America, EMEA and APAC all accelerated on a year-over-year basis compared to Q3. Our go-to-market teams delivered a strong quarter in new logos and new logo ARR. We added 1,300 customers sequentially, a new record for us. And new logo ARR was also a record and included our largest ARR land ever, as Olivier discussed earlier.

我們還看到每個地理區域的 ARR 增長強勁。與第三季度相比，北美、歐洲、中東和非洲和亞太地區均同比增長。我們的上市團隊在新標識和新標識 ARR 方面表現強勁。我們連續增加了 1,300 名客戶，這對我們來說是一個新記錄。正如 Olivier 之前所討論的，新徽標 ARR 也是一項記錄，其中包括我們有史以來最大的 ARR 土地。

Remember that given our usage-based revenue model, new logo wins generally do not immediately translate into meaningful revenue. Our platform strategy continues to resonate with customers with 78% of our customers using 2 or more products, 33% using 4 or more products and 10% using 6 or more Datadog products as of the end of Q4.

請記住，鑑於我們基於使用的收入模型，新徽標的獲勝通常不會立即轉化為有意義的收入。我們的平台戰略繼續與客戶產生共鳴，截至第四季度末，我們 78% 的客戶使用 2 種或更多產品，33% 使用 4 種或更多產品，10% 使用 6 種或更多 Datadog 產品。

Finally, churn has remained low. Our dollar-based gross retention rate has gradually improved over the years and is now in the mid- to high 90s, and it's similar across customer segments and major products.

最後，客戶流失率一直很低。多年來，我們以美元為基礎的總留存率逐漸提高，現在處於 90 年代中期至高位，並且在客戶細分和主要產品中相似。

Turning to billings. Billings were $408 million, up 86% year-over-year. Billings duration in Q4 were similar to the year ago quarter and within the range we've seen historically. Remaining performance obligations, or RPO, was $815 million, up 88% year-over-year. And contract duration was similar to the year ago quarter.

轉向比林斯。賬單為 4.08 億美元，同比增長 86%。第四季度的賬單持續時間與去年同期相似，並且在我們歷史上看到的範圍內。剩餘履約義務或 RPO 為 8.15 億美元，同比增長 88%。合同期限與去年同期相似。

Current RPO growth was over 80% year-over-year. We continue to believe revenue is a better indicator of our business trends than billings and RPO as those can fluctuate relative to revenue based on the timing of invoicing and the duration of customer contracts.

目前的 RPO 同比增長超過 80%。我們仍然認為，收入比賬單和 RPO 更能反映我們的業務趨勢，因為它們可能會根據開票時間和客戶合同期限而相對於收入波動。

Now let's review the income statement. As a reminder, unless otherwise noted, all metrics are non-GAAP. We have provided a reconciliation of GAAP to non-GAAP financials in our earnings release.

現在讓我們回顧一下損益表。提醒一下，除非另有說明，否則所有指標均為非公認會計原則。我們在收益發布中提供了 GAAP 與非 GAAP 財務數據的對賬。

Gross profit in the quarter was $262 million, representing a gross margin of 80%. This compares to a gross margin of 78% last quarter and also 78% in the year ago quarter. As we discussed on last quarter's call, we saw efficiencies in cloud costs reflected in our cost of goods sold in the quarter. In the medium to long term, we continue to expect gross margin to remain in the high 70s range.

本季度毛利潤為 2.62 億美元，毛利率為 80%。相比之下，上一季度的毛利率為 78%，去年同期為 78%。正如我們在上個季度的電話會議上討論的那樣，我們看到云成本的效率反映在我們在本季度銷售的商品成本中。從中長期來看，我們繼續預計毛利率將保持在 70 年代的高位。

Operating income was $71 million or a 22% operating margin compared to an operating income of $18 million with a 10% margin in the year ago quarter. We are experiencing significant business efficiencies on strong revenue growth. This is occurring despite continued aggressive investments in our long-term opportunities, particularly in R&D and go-to-market. Finally, in Q4, we hosted our Dash user conference virtually and a strong presence at AWS re:Invent.

營業收入為 7100 萬美元，營業利潤率為 22%，而去年同期的營業收入為 1800 萬美元，利潤率為 10%。我們正在經歷強勁的收入增長帶來的顯著業務效率。儘管我們繼續積極投資於我們的長期機會，特別是在研發和進入市場方面，但這種情況仍在發生。最後，在第四季度，我們以虛擬方式舉辦了 Dash 用戶會議，並在 AWS re:Invent 上大放異彩。

Turning to the balance sheet and cash flow statements. We ended the quarter with $1.6 billion in cash, cash equivalents, restricted cash and marketable securities. And cash flow from operations was a strong $116 million in the quarter. After taking into account -- taking into consideration CapEx and capitalized software, free cash flow was $107 million with a free cash flow margin of 33%.

轉向資產負債表和現金流量表。我們在本季度末擁有 16 億美元的現金、現金等價物、受限現金和有價證券。本季度運營現金流為 1.16 億美元。考慮到資本支出和資本化軟件後，自由現金流為 1.07 億美元，自由現金流利潤率為 33%。

I want to briefly summarize our fiscal 2021 results. Revenue was $1.03 billion, up 70% year-over-year. We generated $165 million positive in operating income for a 16% operating margin compared to $64 billion with an 11% operating margin in 2020. And we generated $251 million in free cash flow at a 24% margin in 2021 compared to $83 million at a 14% margin in 2020. I want to thank all Datadog employees for their hard work and strong execution throughout 2021.

我想簡要總結一下我們 2021 財年的業績。收入為 10.3 億美元，同比增長 70%。我們創造了 1.65 億美元的正營業收入，營業利潤率為 16%，而 2020 年的營業利潤率為 640 億美元，營業利潤率為 11%。我們在 2021 年創造了 2.51 億美元的自由現金流，利潤率為 24%，而 14 年的營業利潤率為 8300 萬美元。 2020 年利潤率百分比。我要感謝所有 Datadog 員工在整個 2021 年的辛勤工作和強大的執行力。

Now for our outlook for the first quarter and fiscal year 2022. We continue to believe we are in early days of our opportunity in observability. And we are at the very beginning of our potential in-cloud security and developer-focused observability. At 18,800 customers, we believe we are still very early in our penetration of potential customers worldwide, and we see opportunities broadly across industries and customer sizes.

現在是我們對第一季度和 2022 財年的展望。我們仍然相信，我們正處於可觀察性機會的早期階段。我們正處於我們潛在的雲內安全性和以開發人員為中心的可觀察性的開端。在 18,800 家客戶中，我們相信我們在全球範圍內滲透潛在客戶方面仍處於早期階段，我們看到了跨行業和客戶規模的廣泛機會。

As we look on to 2022, we believe companies have learned to manage around the potential business disruptions and remote work life over the past couple of years. And we believe that the need for companies to embark upon digital transformation and cloud migration projects is higher than ever in our strategic imperative to drive competitive advantage. So we are initiating our fiscal 2022 guidance, which includes continued high growth.

展望 2022 年，我們相信公司已經學會在過去幾年中應對潛在的業務中斷和遠程工作生活。我們相信，在我們推動競爭優勢的戰略要務中，企業開展數字化轉型和雲遷移項目的需求比以往任何時候都高。因此，我們正在啟動我們的 2022 財年指導方針，其中包括持續的高增長。

With our usual conservatism applied, our outlook is as follows. For the first quarter, we expect revenues to be in the range of $334 million to $339 million, which represents 70% year-over-year growth at the midpoint. Non-GAAP operating income is expected to be in the range of $36 million to $41 million. And non-GAAP net income per share is expected to be in the $0.10 to $0.12 range per share based on approximately 348 million weighted average diluted shares. For the full year fiscal 2022, we expect revenues to be in the range of $1.51 billion to $1.53 billion, which represents 48% year-over-year growth at the midpoint. Non-GAAP operating income is expected to be in the range of $160 million to $180 million. And non-GAAP net income per share is expected to be in the range of $0.45 to $0.51 per share at approximately 350 million weighted average diluted shares outstanding.

應用我們通常的保守主義，我們的展望如下。對於第一季度，我們預計收入將在 3.34 億美元至 3.39 億美元之間，中點同比增長 70%。非美國通用會計準則營業收入預計在 3600 萬美元至 4100 萬美元之間。根據大約 3.48 億股加權平均稀釋股，非公認會計準則每股淨收益預計在每股 0.10 美元至 0.12 美元之間。對於 2022 財年全年，我們預計收入將在 15.1 億美元至 15.3 億美元之間，中點同比增長 48%。非美國通用會計準則營業收入預計在 1.6 億美元至 1.8 億美元之間。非 GAAP 每股淨收益預計在每股 0.45 美元至 0.51 美元之間，加權平均稀釋後流通股約為 3.5 億股。

And now some notes on the guidance. As usual, when providing guidance, we use more conservative assumptions than we have seen in our historical results. Our strategic focus remains to invest aggressively in R&D and go-to-market to optimize for our long-term growth.

現在對指導進行一些說明。像往常一樣，在提供指導時，我們使用的假設比我們在歷史結果中看到的更為保守。我們的戰略重點仍然是大力投資研發和進入市場，以優化我們的長期增長。

Next, our model assumes greater expenses related to travel and in-person events going forward, but we remain flexible depending on further COVID developments, and our highest priority is protecting the health of our employees.

接下來，我們的模型假設未來與旅行和麵對面活動相關的費用會增加，但我們會根據 COVID 的進一步發展保持靈活性，我們的首要任務是保護員工的健康。

Finally, as it relates to our capital expenditures, we are catching up on office build-outs and expect CapEx as a percent of sales to roughly double compared to 2021. In conclusion, we are very pleased with our results in Q4 and 2021. We continue to innovate rapidly and broaden our platform capabilities with many more products planned to be launched in 2022. We have grown our go-to-market opportunities, including in the public sector with our FedRAMP moderate authorization and deepening our relationships with our cloud partners. And across the company, we are working hard to execute against our opportunities in 2022 and beyond.

最後，由於它與我們的資本支出有關，我們正在趕上辦公樓的建設，並預計資本支出佔銷售額的百分比將比 2021 年翻一番。總而言之，我們對第四季度和 2021 年的業績感到非常滿意。我們繼續快速創新並擴大我們的平台能力，計劃在 2022 年推出更多產品。我們增加了進入市場的機會，包括在公共部門獲得 FedRAMP 適度授權，並加深與雲合作夥伴的關係。在整個公司範圍內，我們都在努力把握 2022 年及以後的機遇。

And with that, we will open the call for questions. Operator, let's begin the Q&A.

有了這個，我們將打開提問的電話。接線員，我們開始問答吧。

(Operator Instructions) And our first question is from Raimo Lenschow from Barclays.

（操作員說明）我們的第一個問題來自巴克萊的 Raimo Lenschow。

Congratulations. This was an amazing quarter. Olivier, you mentioned a higher usage in this quarter. What's driving that? Is that just kind of people standardizing? Is it just traffic as [the clients] getting better? So -- because that's kind of a very, very strong number. What are the factors there?

恭喜。這是一個了不起的季度。 Olivier，您提到本季度的使用率更高。是什麼驅動了它？那隻是一種標準化的人嗎？隨著[客戶]越來越好，這只是流量嗎？所以 - 因為這是一個非常非常強大的數字。有哪些因素？

I don't think there's one specific factor that's driving it. I think it's a combination of everyone's digital transformation, cloud migration still happening and happening with the, I would say, the historical rate we've seen through the history of the company. It's that plus us covering more and more surface with those customers, having more product that they can adopt and they can grow into. And so that's what we saw through the quarter. We did see -- like this is Q4, right? So we did see the same compression at the end of the quarter as we see every year. It was also a bit more pronounced like it was last year. We've seen them to be a bit more pronounced in a post-COVID world. But overall, the quarter was very, very strong and definitely stronger than last year.

我不認為有一個特定的因素在推動它。我認為這是每個人的數字化轉型的結合，雲遷移仍在發生並且正在發生，我想說的是，我們在公司歷史上看到的歷史速度。就是這樣，加上我們與這些客戶接觸的面越來越多，擁有更多他們可以採用並且可以成長的產品。這就是我們在本季度看到的情況。我們確實看到了——就像這是第四季度，對吧？因此，我們確實在季度末看到了與每年一樣的壓縮。它也像去年一樣更加明顯。我們已經看到它們在後 COVID 世界中更加明顯。但總體而言，本季度非常非常強勁，而且肯定比去年更強勁。

Okay. And then one follow-up on that one. You talked about some of the very big wins and how they are consolidating on you. Do you see that consolidation about more in-house build tooling and open source tools? Or is it also consolidating like some of the kind of more established competitors in the space, in the kind of upper APM log areas, et cetera?

好的。然後對那個進行跟進。你談到了一些非常大的勝利以及它們如何鞏固你。您是否看到關於更多內部構建工具和開源工具的整合？或者它是否也像該領域的一些更成熟的競爭對手一樣整合，在 APM 日誌領域等高端領域？

It's a mix of both. Really, it follows the distribution of tooling out there. Like whatever customers have is what they end up consolidating on us. And this movement, we're still early in this consolidation movement. We see it happen, I would say, maybe a bit more often than we used to. I mean we're mentioning a couple in every earnings call at this point, with the large ones fairly notable. But we expect to see more of that in the future, but not necessarily right away.

這是兩者的混合。實際上，它遵循工具的分佈。就像客戶擁有的東西一樣，他們最終鞏固了我們。而這場運動，我們仍處於整合運動的早期。我會說，我們看到它發生的頻率可能比過去要多一些。我的意思是，在這一點上，我們在每次財報電話會議中都會提到幾個，其中大的相當引人注目。但我們希望在未來看到更多這樣的情況，但不一定馬上。

Okay. Perfect. Congratulations. Well done.

好的。完美的。恭喜。做得好。

Our next question is from Kash Rangan from Goldman Sachs.

我們的下一個問題來自高盛的 Kash Rangan。

What a superb quarter, Olivier. I'm curious to get your thoughts on a couple of things. One is as the product suite broadens out, how are you thinking about distribution? Are you going to have more specialized distribution attacking, say, the DevOps market or the AppSec market in your core markets in APM and monitoring? And I have a follow-up question.

多麼棒的季度啊，奧利維爾。我很想知道你對幾件事的看法。一是隨著產品套件的擴展，您如何考慮分銷？您是否會在 APM 和監控的核心市場中使用更專業的分發攻擊，例如 DevOps 市場或 AppSec 市場？我有一個後續問題。

So we're open to whatever we work. We still haven't made any changes to the way we distribute. We still have one sales force that sells everything. We still land largely with infrastructure and then expand from there. And we actually see some proof points that we can get some very good wins that way.

所以我們對我們的工作持開放態度。我們仍然沒有對我們的分發方式進行任何更改。我們仍然擁有一支銷售一切的銷售隊伍。我們仍然主要依靠基礎設施登陸，然後從那裡擴展。我們實際上看到了一些證據表明我們可以通過這種方式獲得一些非常好的勝利。

I mean I think we mentioned on the call the fact that one of our very large customers in finance adopted our security suites. And that was done with our standard land-and-expand motion. So we see that working in at least some cases. That being said, as we fully mature our newer product, especially the security product, we might have to have -- to get some as we go to market, but we're not there yet.

我的意思是，我認為我們在電話會議上提到了一個事實，即我們的一位非常大的金融客戶採用了我們的安全套件。這是通過我們的標準著陸和擴展動作完成的。所以我們看到至少在某些情況下是有效的。話雖如此，隨著我們完全成熟我們的新產品，尤其是安全產品，我們可能必須擁有——在我們進入市場時獲得一些，但我們還沒有。

Got it. And second and final, as you look at the consumption model, when trends are improving, obviously, those revenue outcomes can be as impressive as the ones that you have. As you've become a larger company, are you contemplating things to minimize the volatility of these results and have a little bit more predictability on the other positive side? And that would mean like a Snowflake gives concessions to its customers as they keep making technology improvements, they pass back some of these savings to alleviate any potential pushback as you become a more strategic vendor? Oh my god, I'm spending those so much. It is of great value, but at the same time, can you elaborate a little bit on how you can think ahead and anticipate some of the things that can get underway? That's it for me, and congrats.

知道了。其次，當您查看消費模型時，當趨勢改善時，顯然，這些收入結果可能與您所擁有的一樣令人印象深刻。隨著您成為一家更大的公司，您是否正在考慮將這些結果的波動性降到最低，並在另一個積極方面有更多的可預測性？這意味著就像雪花在客戶不斷進行技術改進時向他們提供讓步一樣，他們會返還部分節省的資金以減輕任何潛在的阻力，因為您成為更具戰略意義的供應商？天哪，我花了這麼多錢。它非常有價值，但與此同時，您能否詳細說明如何提前思考並預測可能發生的一些事情？對我來說就是這樣，恭喜。

Yes. So the way we deal with that is -- and again, the backdrop there is the explosion of data volumes. So if data volumes at our customers grow a lot faster than the top line, at some point, you can't grow what you charge for that linearly with the data volumes. The way we deal with that is we give them more and more options. And those options are differentiated technologically so that we can keep developing new ways of storing the data, different types of data in different ways for different periods of time and that customers, they can choose what they want to use out of that. So that's what we're doing with Online Archives, for example, which is -- which we announced last year and which is [going great] this year. That's also why we invested in -- we're investing in the observability pipeline. So there's a number of things we're doing to help put customers in control and make sure that what we deliver always, always aligns with the -- what we charge always aligns with the value customers get.

是的。所以我們處理這個問題的方式是——再一次，背景是數據量的爆炸式增長。因此，如果我們客戶的數據量增長速度比收入增長快得多，那麼在某些時候，您就無法隨數據量線性增長您收取的費用。我們處理這個問題的方式是給他們越來越多的選擇。這些選項在技術上是不同的，因此我們可以不斷開發存儲數據的新方法，在不同的時間段以不同的方式存儲不同類型的數據，並且客戶可以從中選擇他們想要使用的東西。這就是我們對在線檔案所做的事情，例如，這是我們去年宣布的，今年[進展順利]。這也是我們投資的原因——我們正在投資可觀察性管道。因此，我們正在做很多事情來幫助控制客戶，並確保我們提供的產品始終、始終與我們的收費始終與客戶獲得的價值保持一致。

Our next question is from Sanjit Singh from Morgan Stanley.

我們的下一個問題來自摩根士丹利的 Sanjit Singh。

My congrats on an exceptional 2021. Olivier, I wanted to talk a little bit about your comment about the early days of the opportunity on sort of 2 dimensions. If I look at some of the big software companies that we've seen, whether it's Salesforce or VMware or other large companies, they have north of hundreds of thousands of customers, right? And you're sort of sitting at 18,000. I was wondering in terms of your guys' vision, do you envision Datadog getting to this sort of customer count levels? That's sort of part one of the question.

我祝賀 2021 年的非凡表現。Olivier，我想談談你對二維機會早期的評論。如果我看看我們見過的一些大型軟件公司，無論是 Salesforce 還是 VMware 或其他大公司，它們都有成千上萬的客戶，對吧？而你的人數是 18,000。我想知道你們的願景，您是否設想 Datadog 達到這種客戶數量水平？這是問題的第一部分。

On the other hand, it seems like you guys are doing better and better upmarket at this -- by this [largest stuff or land win] with this media company. Do you start to feel that the large enterprise market is now moving more and more towards the sort of Datadog platform versus kind of this sort of hybrid cloud approach that they've been -- that sort of modality that they been in for the last couple of years. Any sort of views on traction in enterprise and what sort of customer counts we can get to longer term?

另一方面，你們似乎在高端市場做得越來越好——通過這家媒體公司的[最大的東西或土地勝利]。您是否開始覺得大型企業市場現在正越來越多地轉向 Datadog 平台，而不是他們曾經採用的這種混合雲方法——他們上一對所採用的那種模式年。關於企業牽引力以及我們可以長期獲得什麼樣的客戶數量的任何觀點？

Yes. So on the first question, we definitely -- we build a product and a company that serves the whole market, like the whole gamut of potential customers. We think that developers at small companies behave, especially in the cloud, they have to behave very much the same way as developers in very large enterprises. They have the same toolbox. They work the same way largely. And so we built a product that serves everyone. We do expect to have very large counts of customers in the end.

是的。所以在第一個問題上，我們肯定——我們建立了一個為整個市場服務的產品和一家公司，就像整個潛在客戶一樣。我們認為小公司的開發人員的行為方式，尤其是在雲中，他們的行為方式必須與大型企業中的開發人員非常相似。他們有相同的工具箱。它們在很大程度上以相同的方式工作。因此，我們構建了一個為所有人服務的產品。我們確實希望最終擁有非常多的客戶。

But to your second question, we also see, right now, a lot of the demand, a lot of the growth is coming from mid-market and large enterprises and also the higher end of the market. And we feel good about that part of the market, like we see it successfully standardizing Datadog. We see it successfully land and expand with us. I think we're growing faster. Well, I would say we're an equivalent size and growing faster than anybody else in the market for that specific part of the market. So I think we feel good about it. That's a big part of what we're doing.

但是對於你的第二個問題，我們也看到，現在很多需求，很多增長來自中型市場和大型企業，也來自高端市場。我們對這部分市場感覺良好，就像我們看到它成功地將 Datadog 標準化一樣。我們看到它成功登陸並與我們一起擴展。我認為我們的增長速度更快。好吧，我想說我們的規模相當，增長速度比市場上那個特定部分的任何其他人都快。所以我認為我們對此感覺良好。這是我們正在做的很大一部分。

That makes a ton of sense. And I guess my follow-up question relates to security. I understand that's still early days in the move into this area. I wondered if you could talk about it in sort of 2 pieces. One, selling security solutions to your core set of users, how confident are you that you're going to see traction in that motion sooner versus maybe selling security solutions to the security operations team, which might require more of an investment, more of a specialized go-to-market motion? If you can sort of -- how do we think through traction on sort of part one of that selling to like DevOps versus the security operations teams?

這很有意義。我想我的後續問題與安全有關。我知道進入這個領域還處於初期階段。我想知道你是否可以分兩部分來談論它。第一，向核心用戶銷售安全解決方案，與向安全運營團隊銷售安全解決方案相比，你有多大信心會盡快看到該動議的牽引力，這可能需要更多的投資，更多的專門的上市運動？如果你可以——我們如何通過對像 DevOps 和安全運營團隊這樣的銷售的第一部分的牽引來思考？

So the traction is here. We see the traction, right? So we mentioned on the call, we have thousands of customers on security products. And so the adoption is there. It's happening. It's happening across our products. We have a number of products we started charging for in Q4, such as cloud workload protection, for example. And those actually are off to a strong start. So we are pretty impressed with the numbers we see there.

所以牽引力就在這裡。我們看到了牽引力，對吧？所以我們在電話會議上提到，我們有成千上萬的安全產品客戶。所以收養就在那裡。正在發生。它發生在我們的產品中。我們有許多產品在第四季度開始收費，例如雲工作負載保護。這些實際上已經有了一個良好的開端。因此，我們對在那裡看到的數字印象深刻。

So again, it's too early to pass judgment. We have to see them perform for a couple of quarters. We have to see what's working, what's not working as customers get multiple quarters into the adoption of the product. But the signs we see today are very positive in terms of the adoption, in terms of the fit of those products, in terms of the way our story makes sense for our customers. It's still possible we have to make changes to the go-to-market motion and specialize the teams and do a number of other things. I would say it might come in a bit later when customers are -- start embarking on the same standardization motion for security as they do right now with us for observability. But today, we're very pleased with what we see in terms of the fit and the adoption of those product. This is happening according to plan, I would say. So we're very happy.

再說一次，現在下判斷還為時過早。我們必須看到他們表演幾個季度。我們必須看看什麼是有效的，什麼是無效的，因為客戶會花好幾個季度來採用該產品。但我們今天看到的跡像是非常積極的，包括產品的採用、產品的適用性以及我們的故事對客戶有意義的方式。我們仍然有可能必須對上市動議做出改變，讓團隊專業化並做一些其他事情。我會說它可能會在稍後的時候出現，當客戶開始著手進行與他們現在與我們進行可觀察性相同的安全標準化運動時。但是今天，我們對這些產品的適用性和採用情況感到非常滿意。我想說，這是按計劃進行的。所以我們非常高興。

Our next question is from Sterling Auty from JPMorgan.

我們的下一個問題來自摩根大通的 Sterling Auty。

Maybe we'll switch over to the margin side. So David, in particular, I was impressed by your sales and marketing spend increased less this year quarter-over-quarter than it did last year, but the revenue incremental dollars that you added was much higher. Can you kind of go through -- is that all just because of the usage base and existing customer contribution in the quarter?

也許我們會切換到邊際。所以大衛，特別是，我對你今年的銷售和營銷支出比去年增加的季度環比增長印象深刻，但你增加的收入增加的美元要高得多。你能經歷一下——僅僅是因為本季度的使用基礎和現有客戶貢獻嗎？

Yes. That's because of the usage and the cross-sell and the efficiency of it in our frictionless adoption. So it's an indication of both the robustness of the end market as well as the ability for clients to adopt more of the platform.

是的。這是因為使用和交叉銷售以及它在我們的無摩擦採用中的效率。因此，這表明終端市場的穩健性以及客戶採用更多平台的能力。

Got it. And then maybe one quick follow-up. Same thing on gross margins, it was a very big sequential bump. What's contributing to it? And is it durable at these levels? Or what should we be contemplating in terms of that trend?

知道了。然後也許是一個快速的跟進。毛利率也是如此，這是一個非常大的連續增長。是什麼促成了它？在這些水平上它是否耐用？或者我們應該在這種趨勢方面考慮什麼？

Yes. And as we said since we went public that we are focusing on gross margins in the mid-70s to touching 80%. And that there will be periods of time that due to investment, they will tend towards to the middle or lower part of that range and then go up. And in this case, in this period of time, we were able to harvest efficiencies in our cloud costs. And like in other periods of this fluctuation of the gross margin, we've hit 80%. As we're investing, that we may dip below that. But as we said in my prepared remarks, we feel confident that, that will remain in the mid- to upper parts of the 70% range.

是的。正如我們自上市以來所說的那樣，我們專注於 70 年代中期的毛利率達到 80%。並且會有一段時間，由於投資，它們會趨向於該區間的中部或下部，然後上升。在這種情況下，在這段時間內，我們能夠提高云成本的效率。就像在毛利率波動的其他時期一樣，我們已經達到了 80%。當我們進行投資時，我們可能會跌破該水平。但正如我們在準備好的講話中所說，我們有信心，這將保持在 70% 範圍的中上部分。

As a reminder, we're shipping our Cloud Cost Management product next year, and we hope to be the first case study for that.

提醒一下，我們將於明年推出我們的云成本管理產品，我們希望成為第一個案例研究。

Our next question is from Fatima Boolani from Citi.

我們的下一個問題來自花旗的 Fatima Boolani。

Olivier, maybe I'll start with you. You've been very conservative with respect to some of your commentary around the traction you're seeing outside of your core wheelhouse of observability in the realm of CI/CD and [really] catering to the developer audience. So maybe just to take a step back with 13 generally available products, what are some of the efforts that are being put in place to package certain modules that are in a similar family or address a similar buyer persona? And sort of where are you on that journey to be able to attract more and more of these different groups within the enterprise organization? And then I have a follow-up for David, if I may.

奧利維爾，也許我會從你開始。對於你在 CI/CD 領域的核心可觀察性駕駛室之外看到的牽引力的一些評論，你一直非常保守，並且 [真的] 迎合了開發人員的觀眾。因此，也許只是退一步推出 13 種普遍可用的產品，正在採取哪些措施來打包類似系列中的某些模塊或解決類似的買家角色？你在這個旅程中的哪個階段能夠在企業組織中吸引越來越多的這些不同的群體？如果可以的話，我會對大衛進行跟進。

Yes. So we're actually very happy with those products. So they're getting to market nicely. So we -- the CI/CD product we also started charging for fairly recently, and we're very happy with the adoption we see there, similarly to what we said about security. At some point, we'll also comment on the numbers for that. I would say the numbers are still small compared to the rest of the business. But that's more due to the fact that the rest of the business is well north of $1 billion in ARR and growing close to 100% or 100% of it [focused on positive] year-over-year. So we -- it's going to take more time for it to be meaningful compared to all that. But we do see a lot of potential in those products. We are very happy with the adoption.

是的。所以我們實際上對這些產品非常滿意。所以他們很好地進入了市場。所以我們——我們最近也開始收費的 CI/CD 產品，我們很高興看到那裡的採用，類似於我們所說的安全性。在某些時候，我們也會對此數字發表評論。我想說，與其他業務相比，這些數字仍然很小。但這更多是因為其他業務的 ARR 遠高於 10 億美元，並且同比增長接近 100% 或 100% [專注於積極]。所以我們 - 與所有這些相比，它需要更多的時間才能變得有意義。但我們確實看到了這些產品的巨大潛力。我們對採用感到非常高興。

In terms of the packaging, we always ask ourselves the right ways to price and package those products. We're big fans of unbundling for -- because it does align the -- very precisely what customers pay with the value they get, and it gives us very strong signal on what works and what doesn't work at the product level. So we always start with unbundled. And then over time, we might find that there are some things that might need to be packaged differently or customers that want to buy together, that's when we start bundling things. But that's -- we always start with unbundled. That's the default motion for us.

在包裝方面，我們總是問自己正確的方法來定價和包裝這些產品。我們非常喜歡分拆——因為它確實使客戶支付的費用與他們獲得的價值保持一致，並且它給我們提供了非常強烈的信號，說明在產品層面什麼是有效的，什麼是無效的。所以我們總是從非捆綁式開始。然後隨著時間的推移，我們可能會發現有些東西可能需要以不同的方式包裝，或者客戶想要一起購買，這就是我們開始捆綁商品的時候。但那是——我們總是從非捆綁式開始。這是我們的默認動作。

I appreciate that detail, Olivier. David, for you, I think you were pretty categorical in your prepared remarks vis-a-vis your guidance philosophy. But taking a step back and in the context of the million-dollar deal volume that you saw double this year, how are you contemplating the incidence, frequency and maybe volume of larger deals as you do start seeing some more repeatability and patterns in the way customers are moving to the 7-, 8-figure deal mark? Any help or context as to how you're thinking about those attributing factors would be great.

我很欣賞這個細節，奧利維爾。大衛，對你來說，我認為你在準備好的評論中相對於你的指導理念非常明確。但退一步說，在今年百萬美元交易量翻番的背景下，當您開始看到更多可重複性和模式時，您如何考慮更大交易的發生率、頻率以及可能的交易量客戶正在轉向 7、8 位數的交易標記？關於您如何考慮這些歸因因素的任何幫助或背景都會很棒。

Yes. Thank you. It's still the similar motion to what we've been experiencing, which means, for the most part, our $100,000-plus customers were started out lower than the $100,000, and our $1 million customers started lower than $1 million. We're still largely the land and expand. So we see that motion continuing. And in addition to that, I think as said in our prepared remarks, we're seeing, in some cases, where a client has a significant cloud presence and consolidates or outsources or goes to a system rather than open source, we would land and get to a large amount earlier, which we've talked about in some of our prepared comments. But for the most part, it still is that land and expand and evolve from lower deal sizes to the $100,000 and $1 million as we've been discussing.

是的。謝謝你。這仍然與我們所經歷的類似，這意味著，在大多數情況下，我們 100,000 美元以上的客戶的起步價低於 100,000 美元，而我們 100 萬美元的客戶起步價低於 100 萬美元。我們仍然主要是土地和擴張。因此，我們看到該議案仍在繼續。除此之外，我認為正如我們在準備好的評論中所說，我們看到，在某些情況下，如果客戶擁有重要的雲存在並整合或外包或使用系統而不是開源，我們會登陸並早點進行大量討論，我們已經在一些準備好的評論中談到了這一點。但在大多數情況下，正如我們一直在討論的那樣，它仍然是土地和擴張並從較小的交易規模發展到 100,000 美元和 100 萬美元。

Our next question is from Brent Thill from Jefferies.

我們的下一個問題來自 Jefferies 的 Brent Thill。

Olivier, on 2022 cloud migrations, there's been some concern given the consumption that we've seen in the last 2 years that there could be some slowdown or digestion. It doesn't appear that that's what you're seeing right now. But curious if you could just share your thoughts on what happens this year. And it seems like there's some really new pockets of movement even in financial services and other subsectors that we haven't seen. What are you expecting?

Olivier，關於 2022 年的雲遷移，考慮到我們在過去 2 年中看到的消費可能會出現一些放緩或消化，因此存在一些擔憂。看起來這不是你現在看到的。但是很好奇你是否可以分享你對今年發生的事情的看法。即使在金融服務和其他我們沒有看到的子行業中，似乎也出現了一些真正的新動向。你在期待什麼？

And David, if I can follow up with you, just on a quick question about Sean's new role. Historically, we've seen changes in the sales team. In other software companies, we've seen a little bit of an air pocket. It seems like you expect this to proceed smoothly, and it's more of a tweaking of the go-to-market versus a major change. Can you comment on that as well?

大衛，如果我可以跟進你，只是關於肖恩的新角色的一個簡短問題。從歷史上看，我們已經看到了銷售團隊的變化。在其他軟件公司中，我們已經看到了一點氣袋。您似乎希望這會順利進行，而且它更像是對上市的調整而不是重大變化。你也可以對此發表評論嗎？

Sure. Yes. So in terms of the sort of the trends we've seen when we're forecasting, from what we can tell, there's no -- like what we see is continuity. Like what we see in 2021, if you look at it including 2021, it looked to us -- it looks a lot like 2019, which itself looks a lot like 2018. And what this tells you is we're still early in digital transformation and cloud migration. And this is happening -- it seems to be happening with a certain rate within enterprises that we can convert workloads and move them to the cloud. And we've seen that to be more or less true throughout the history of the company.

當然。是的。因此，就我們在預測時看到的趨勢而言，據我們所知，沒有——就像我們看到的是連續性一樣。就像我們在 2021 年看到的那樣，如果你看包括 2021 年在內，它在我們看來——它看起來很像 2019 年，它本身看起來很像 2018 年。這告訴你的是，我們仍處於數字化轉型的早期階段和雲遷移。這正在發生——似乎在企業內部以一定的速度發生，我們可以轉換工作負載並將它們移動到雲中。在公司的整個歷史中，我們已經看到這或多或少是正確的。

So from where we stand, we don't see any particular acceleration in 2021, that is it would be a pull-forward of '22 or anything like that. So we see continuity. That's what we see. So we see a strong demand environment. Obviously, we can't forecast what's going to happen next year. It's possible that we're still in troubled times, and it's possible weird things happen. But we're very confident that if that's the case, the setbacks will be temporary and that we're still very early in a very, very broad transformation, the magnitude of which is still difficult to [reason about]. So that's on your first question. So we're very confident on the environment and very confident in our place in it.

因此，從我們的立場來看，我們在 2021 年看不到任何特別的加速，也就是說，這將是 22 年的拉動或類似的事情。所以我們看到了連續性。這就是我們所看到的。因此，我們看到了強勁的需求環境。顯然，我們無法預測明年會發生什麼。有可能我們還處於困難時期，也有可能發生奇怪的事情。但我們非常有信心，如果是這樣的話，挫折將是暫時的，而且我們仍處於非常、非常廣泛的轉型的早期階段，其規模仍然難以[推理]。所以這是你的第一個問題。所以我們對環境非常有信心，對我們在其中的位置非常有信心。

In terms of the sales team, we actually didn't make a very large changes to the sales team. We acted with continuity, and we promoted from within for our CRO spot. We promoted Sean, who I think is the best person for the job, really. And we don't expect any big changes as part of that. We expect to keep building. We expect to keep scaling. We expect to maybe do a little bit of go-to-market in some areas with the new products to the fold. But mostly, we're here to scale what we have today.

在銷售團隊方面，我們其實並沒有對銷售團隊做很大的改動。我們以連續性的方式行事，我們從內部晉升為我們的 CRO 職位。我們提拔了肖恩，我認為他是這項工作的最佳人選，真的。我們預計不會有任何大的變化作為其中的一部分。我們希望繼續建設。我們希望繼續擴大規模。我們預計可能會在某些領域進行一些新產品的上市。但大多數情況下，我們來這裡是為了擴大我們今天擁有的東西。

Our next question is from Brad Reback from Stifel.

我們的下一個問題來自 Stifel 的 Brad Reback。

Olivier, last quarter, you talked about some recent product releases that could be easily consumed by non-IT employees. So I'm just wondering how that's trending. And then as we look forward, should we think about that as a driver to '22 or more '23 and beyond?

Olivier，上個季度，您談到了一些非 IT 員工可以輕鬆使用的最新產品版本。所以我只是想知道這是如何流行的。然後，當我們展望未來時，我們是否應該將其視為'22 或更多'23 及以後的驅動程序？

Yes. So we have a few of those products, and we mentioned some of the new products that reach more into the business areas of support area, like Session Replay, [analysis], things like that, Cloud Cost Management. There are some that are still not in GA. The others are still very early. We shipped them late last year. So I would say it's definitely too early to share any data about them.

是的。所以我們有一些這樣的產品，我們提到了一些更多進入支持領域業務領域的新產品，比如會話重放、[分析]，諸如云成本管理之類的東西。有些仍然不在GA中。其他的還很早。我們去年底發貨了。所以我想說現在分享任何關於他們的數據肯定為時過早。

2022, they're still probably going to be too small to have a major impact on the numbers, but that's definitely a big area for growth for us in the future. So we invest now with those products and then they make a meaningful contribution in the future. And by the way, that's what we've seen happen with our other products today. I think we mentioned on the call that the "smaller product" that we released since 2019 collectively added more than $100 million in ARR last year, which is very meaningful. And so we expect the same to happen with the products we released last year.

到 2022 年，它們可能仍然太小而無法對數字產生重大影響，但這絕對是我們未來增長的一大領域。所以我們現在投資這些產品，然後它們在未來做出有意義的貢獻。順便說一句，這就是我們今天在其他產品中看到的情況。我想我們在電話會議上提到，我們從 2019 年開始發布的“更小的產品”在去年總共增加了超過 1 億美元的 ARR，這是非常有意義的。因此，我們預計我們去年發布的產品也會發生同樣的情況。

Our next question is from Michael Turits with KeyBanc.

我們的下一個問題來自 KeyBanc 的 Michael Turits。

Olivier and everybody, congrats on the quarter. I want to ask the competitive question, particularly important given that you had 2 public comps that have less than impressive results. So very specifically, where are you winning upmarket? And how are you winning upmarket competitively in enterprise and also maybe downmarket where you may be seeing more price competition on ingest?

Olivier 和大家，祝賀本季度。我想問一個競爭性的問題，考慮到你有 2 個公開比賽的結果並不令人印象深刻，這一點尤其重要。所以非常具體，你在哪裡贏得高端市場？您如何在企業和低端市場競爭中贏得高端市場，您可能會在攝取方面看到更多的價格競爭？

So first of all, we don't actually see the competition all that much. So I don't wake up every morning asking myself how are we going to win or whether we are winning. We mostly compete against customers building it themselves or building on their tool then starting in the cloud without a clear idea what's going on. We do see a few big replacements in every quarter. We've mentioned a few on the call. When that's the case, we -- I mean the ones we mentioned are typically the ones that are upmarket. The reason why we're winning those situations is we offer an integrated platforms where others don't. We're cloud-native where others aren't. And most importantly, we have a lot more usage and adoption from the teams on the ground around our product. So that's the deployed everywhere, used by everyone saying that I repeat at every call, that really is what makes us win in the end with customers. And that applies upmarket, that applies downmarket, it applies everywhere.

所以首先，我們實際上並沒有看到那麼多競爭。所以我不會每天早上醒來都問自己我們將如何獲勝或者我們是否正在獲勝。我們主要與客戶競爭，他們自己構建它或在他們的工具上構建，然後從雲開始，卻不清楚發生了什麼。我們確實看到每個季度都有一些大的替代品。我們在電話會議上提到了一些。在這種情況下，我們 - 我的意思是我們提到的那些通常是高檔的。我們贏得這些情況的原因是我們提供了一個其他人沒有的集成平台。我們是雲原生的，而其他人則不是。最重要的是，我們的產品周圍的團隊有更多的使用和採用。這就是無處不在的部署，每個人都說我每次打電話都會重複，這確實是我們最終贏得客戶的原因。這適用於高端市場，適用於低端市場，它適用於任何地方。

And let me just add that, of course, we didn't have the APM and logs. We didn't have the breadth of the platform 5 years ago. So as we talked about there, a number of customers where we had landed with infrastructure and as they are consolidating on the platform, they're buying our products, whether it be enhancement, whether it be movement from open source or whether it be replacement of the company's products that you're talking about.

讓我補充一點，當然，我們沒有 APM 和日誌。 5 年前，我們還沒有平台的廣度。因此，正如我們在那裡談到的那樣，我們已經通過基礎設施登陸的一些客戶，當他們在平台上進行整合時，他們正在購買我們的產品，無論是增強型產品，無論是來自開源的移動還是替代產品您正在談論的公司產品。

And David, on the packaging of different products or different personas, what about from a sales and go-to-market perspective? Any moves to either create specialized or overlay sales forces given the breadth and scope of what you're now offering?

大衛，在不同產品或不同角色的包裝上，從銷售和進入市場的角度來看呢？鑑於您現在提供的產品的廣度和範圍，是否有任何舉措來創建專業或覆蓋銷售隊伍？

We -- right now, we're experimenting with a few things, obviously, like we're trying to see if it can makes sense in some areas, the prime candidate being security. But we haven't made any big changes to the way we sell. And we also see some interesting proof points that we can be successful with keeping the way the -- keeping our sales team the way it is right now. So we are keen on that. We expect it to be an area of focus at some point during the next year. But so far, no changes. And so far, looking good.

我們 - 現在，我們正在嘗試一些事情，很明顯，就像我們試圖看看它在某些領域是否有意義，主要候選人是安全性。但是我們沒有對我們的銷售方式進行任何大的改變。我們還看到了一些有趣的證據，表明我們可以成功地保持這種方式——讓我們的銷售團隊保持現在的狀態。所以我們對此很感興趣。我們預計它會在明年的某個時候成為一個重點領域。但到目前為止，沒有任何變化。到目前為止，看起來不錯。

Our next question is from Matt Hedberg from RBC Capital Markets.

我們的下一個問題來自 RBC Capital Markets 的 Matt Hedberg。

Oli, it was great to see you achieving FedRAMP moderate status. Could you remind us about the success you've had thus far on the federal side? And could that drive additional success there in 2022?

Oli，很高興看到您達到 FedRAMP 中等狀態。您能否提醒我們您迄今為止在聯邦方面取得的成功？這能否在 2022 年推動那裡取得更大的成功？

The goal is really to be able to sell to fully go to market on the federal side. With the FedRAMP low we had before, we were limited in the number of agencies we could target, and we also are limited a number of use cases. We basically could only target in [faster] monitoring use cases. We couldn't send logs, APM, things like that.

目標是真正能夠在聯邦方面銷售以完全進入市場。由於之前的 FedRAMP 較低，我們可以定位的機構數量有限，而且我們的用例數量也有限。我們基本上只能針對 [faster] 監控用例。我們無法發送日誌、APM 之類的東西。

With FedRAMP medium, what we can do is we can sell all of our products, and we can pretty much sell to every single civilian agency in the Federal Government as well as a number of other government agencies that are local agencies, but that take the same or use FedRAMP as the same guidelines for security and compliance. So it really opens up the market.

使用 FedRAMP 媒介，我們可以做的是我們可以銷售我們所有的產品，我們幾乎可以銷售給聯邦政府中的每一個民間機構以及許多其他政府機構，這些政府機構是地方機構，但是相同或使用 FedRAMP 作為安全性和合規性的相同指南。所以它真的打開了市場。

We've seen some -- already some success to date. We already have, as of last quarter, $1 million-plus customer on the federal side on our FedRAMP on our cloud offer. So we're optimistic, but we still have a lot of building to do on the go-to-market there, like it's not necessarily exactly the same go-to-market that we're used to.

我們已經看到了一些——迄今為止已經取得了一些成功。截至上個季度，我們的 FedRAMP 上的雲服務已經在聯邦方面擁有超過 100 萬美元的客戶。所以我們很樂觀，但我們在進入市場方面仍有很多工作要做，就像它不一定與我們習慣的一樣進入市場。

Got it. And then maybe just a quick one on the product side. I was really excited to see Sensitive Data Scanner launched. It really feels like data governance as a whole is just becoming more important in a post-COVID world. It sounds like it's working today with application logs. Could that product go further? I'm just sort of curious on sort of what the scope of what Datadog could provide from a governance -- data governance perspective.

知道了。然後也許只是產品方面的一個快速的。看到 Sensitive Data Scanner 推出，我真的很興奮。感覺就像整個數據治理在後 COVID 世界中變得越來越重要。聽起來它今天正在使用應用程序日誌。那個產品能走得更遠嗎？我只是有點好奇 Datadog 從治理——數據治理的角度可以提供什麼範圍。

Yes. So that product is actually a great example of the power of our platform and all the various use cases we can derive from it. We started the Sensitive Data Scanner with log data, which is very straightforward and something customers love because it tells them immediately whether they are manipulating sensitive data or they should not, which is a hard problem for them to solve. But we can extend it to look at all of the data that ends up on the front end of an application where we use our monitoring. We can extend it to look at all of the data that go through the various services in the back end of the application through the APM. We can extend it to look at all of the data that go through the network through network monitoring. So it's a great example of how we can use the data collection we already have to help our customers solve hard problems that they couldn't solve otherwise.

是的。因此，該產品實際上是我們平台的強大功能以及我們可以從中獲得的所有各種用例的一個很好的例子。我們使用日誌數據啟動了敏感數據掃描器，這非常簡單，也是客戶喜歡的東西，因為它可以立即告訴他們他們是否正在操縱敏感數據，這對他們來說是一個很難解決的問題。但是我們可以擴展它來查看最終在我們使用監控的應用程序前端的所有數據。我們可以對其進行擴展，以查看通過 APM 在應用程序後端通過各種服務的所有數據。我們可以將其擴展為通過網絡監控查看通過網絡的所有數據。所以這是一個很好的例子，說明我們如何使用我們已經擁有的數據收集來幫助我們的客戶解決他們無法解決的難題。

It's also interesting because it's a product that sits pretty much halfway between observability and security. And you could make a good case for attaching to one or the other. So it really shows like the unified future observability and security platform that we're building.

它也很有趣，因為它是一款介於可觀察性和安全性之間的產品。你可以為附加到一個或另一個提供一個很好的案例。所以它確實顯示了我們正在構建的統一的未來可觀察性和安全平台。

Super helpful. Congrats on the results, guys.

超級有幫助。祝賀結果，伙計們。

Our next question is from Adam Tindle from Raymond James.

我們的下一個問題來自 Raymond James 的 Adam Tindle。

Olivier, I just wanted to start with a big picture question. You crossed the $1 billion in ARR threshold this year, a very strong year. That tends to be a milestone where software companies can start thinking about updates to either internal infrastructure or team to take them beyond that $1 billion level. So maybe you could just talk conceptually about how you're thinking about what to put in place to scale Datadog to a multibillion-dollar company?

奧利維爾，我只想從一個大問題開始。今年你的 ARR 突破了 10 億美元的門檻，這是非常強勁的一年。這往往是一個里程碑，軟件公司可以開始考慮對內部基礎設施或團隊進行更新，以使其超過 10 億美元的水平。所以也許你可以從概念上談談你是如何考慮如何將 Datadog 擴展到一家價值數十億美元的公司的？

Well, that's what we do every week. We ask ourselves how we're going to keep scaling the company, what we're missing, what we need to add. So in general, we are scaling company. We're hiring a lot. We're hiring at all levels. We're bringing outside experience where we don't have it. But I would say, in addition to that, we're also very, very, very careful to make sure we can keep delivering and keep innovating.

嗯，這就是我們每週都做的事情。我們問自己我們將如何繼續擴大公司規模，我們缺少什麼，我們需要添加什麼。所以總的來說，我們正在擴大公司規模。我們正在招聘很多人。我們正在招聘各個級別。我們將外部經驗帶到我們沒有的地方。但我想說，除此之外，我們還非常、非常、非常小心地確保我們能夠不斷交付並不斷創新。

I mean we have worked at much larger companies before. I've seen how hard it can be to get things done in a very large organization. And I want to make sure that we keep our teams extremely productive. We minimize the number of red tape that prevent them for getting work done while putting -- building enough roles and enough controls, so we make sure that nothing weird happens. So that's the concern every single week for us at Datadog, and that's pretty much what my job is.

我的意思是我們以前曾在更大的公司工作過。我已經看到在一個非常大的組織中完成工作是多麼困難。我想確保我們的團隊保持極高的生產力。我們盡量減少妨礙他們完成工作的繁文縟節——建立足夠的角色和足夠的控制，所以我們確保不會發生任何奇怪的事情。這就是我們 Datadog 每週都關心的問題，而這幾乎就是我的工作。

Understand. Maybe a more near-term follow-up for David on guidance. This time last year, you were guiding to high 30s year-over-year growth for 2021. You obviously overachieved that, but now we're sitting here guiding to high 40s year-over-year in 2022 on a bigger base number. Just wondering how you thought about the process to putting a target out now versus this time last year in 2021. It seems bold, but you talked about usual conservatism. So maybe take us through that.

理解。也許是大衛在指導方面更近期的後續行動。去年這個時候，您正在指導 2021 年實現 30 多歲的同比增長。您顯然超額實現了這一目標，但現在我們正坐在這裡，以更大的基數指導 2022 年實現 40 多歲的同比增長。只是想知道你如何看待現在與去年 2021 年這個時候制定目標的過程。這似乎很大膽，但你談到了通常的保守主義。所以也許可以帶我們度過難關。

Yes, yes. I think -- yes, thanks. I think overall, it's sort of the same ideology, which is to take what we've seen in the usage and numbers and discount it. I will say last year being in COVID, we took, and we said this on the call, a bit more of a conservative approach. We had less -- we had more uncertainty last year. So I mean I think we adopted the same approach but applied a little more conservatism last year when we gave our original guidance.

是的是的。我想——是的，謝謝。我認為總體而言，這是一種相同的意識形態，即採用我們在使用和數字中看到的內容並將其打折。我會說去年在 COVID 中，我們採取了，我們在電話會議上說了這個，有點保守的做法。我們有更少的 - 去年我們有更多的不確定性。所以我的意思是，我認為我們採用了相同的方法，但去年我們在給出最初的指導時採用了更多的保守主義。

Our next question is from Gregg Moskowitz from Mizuho.

我們的下一個問題來自瑞穗的 Gregg Moskowitz。

My congratulations. Olivier, you released Cloud SIEM about 18 months ago, and it seemed to get off to a slower start than the typical new Datadog product. But as you mentioned, you now have thousands of customers that have deployed your security products. So what I'm wondering is what's the primary driver of this? Is it a function of having more breadth in security, such as Sensitive Data Scanner, Cloud Workload Protection, et cetera? Is it because your sales force and channel has become more adept at selling security? Or is it something else you would point to?

我的祝賀。 Olivier，您大約在 18 個月前發布了 Cloud SIEM，它的起步似乎比典型的新 Datadog 產品要慢。但正如您所提到的，您現在有成千上萬的客戶部署了您的安全產品。所以我想知道這是什麼主要驅動力？它是否具有更廣泛的安全性，例如敏感數據掃描儀、雲工作負載保護等？是不是因為您的銷售人員和渠道變得更擅長銷售安全產品？還是你會指出的其他東西？

So first of all, actually, it's off to a very strong start. So we mentioned thousands of customers using it. That's a lot of customers, especially for a product that is an expansion product. That's not something that we lead with typically. So we're very happy with that.

所以首先，實際上，這是一個非常好的開始。所以我們提到了成千上萬的客戶使用它。那是很多客戶，特別是對於作為擴展產品的產品。這不是我們通常領導的事情。所以我們對此非常滿意。

There's still quite a bit of product work happening on it. Like we're [broadening] it so we can support more use cases, so it can be more end-to-end for everything our customers need to do with the Cloud SIEM so there's quite a bit of investment on that product that remains. So we're still early in the product development cycle there.

仍然有相當多的產品工作正在進行中。就像我們正在 [擴大] 它一樣，我們可以支持更多用例，因此對於我們的客戶需要使用 Cloud SIEM 做的所有事情，它可以更加端到端，因此對該產品仍有相當多的投資。因此，我們仍處於產品開發週期的早期階段。

From -- we expect at some point maybe this year to share some numbers on the revenues by those products, but we're also very happy with the growth there. And those products are growing very, very quickly, obviously, from a much smaller base than the rest of our products. But we mentioned $100 million of added revenue from the -- added ARR from the newer product. And the 2 bigger buckets in there are user experience monitoring and security. So we see that growing, and we see that being a potential driver of future growth for us.

從 - 我們預計今年可能會分享這些產品的一些收入數字，但我們也對那裡的增長感到非常滿意。顯然，這些產品的增長速度非常非常快，而且基數比我們的其他產品要小得多。但我們提到了來自新產品的新增 ARR 的 1 億美元額外收入。其中的 2 個更大的存儲桶用於用戶體驗監控和安全性。因此，我們看到這種增長，我們認為這是我們未來增長的潛在驅動力。

Okay. That's very helpful. And then regarding the new global partnership with AWS or expanded partnership, can you elaborate on how much tighter the product integration may become? And then also how actively are the 2 companies planning to engage in collaborative go-to-market?

好的。這很有幫助。然後關於與 AWS 的新全球合作夥伴關係或擴大的合作夥伴關係，您能否詳細說明產品集成可能會變得更加緊密？那麼這兩家公司計劃參與合作上市的積極程度如何？

Well, so it's very much a continuation of what we're doing with AWS. I think we've written down a few things that were more implicit before in terms of what we're going to do from an integration perspective. What's exciting to us is that we've written down things that are -- that don't just concern observability, but also reach into security use cases. So we're going to see broader integrations there between the 2 products. And we've also decided to get a little bit closer on some of the go to market. There's not much more I can say on that. We're still working on a number of those things. But this is, I would say, in line with what we're doing with other partners to really fully go to market with the cloud providers customers.

嗯，這是我們使用 AWS 所做工作的延續。我認為我們已經寫下了一些之前比較隱含的內容，這些內容是從集成的角度來看我們將要做的事情。令我們興奮的是，我們已經寫下了不僅涉及可觀察性，還涉及安全用例的內容。因此，我們將看到這兩種產品之間更廣泛的集成。而且我們還決定更接近一些上市。關於這一點，我無話可說。我們仍在做一些這樣的事情。但是，我想說，這與我們正在與其他合作夥伴一起做的事情一致，以真正與雲提供商客戶一起全面進入市場。

Our next question is from Yun Kim from Loop Capital Markets.

我們的下一個問題來自 Loop Capital Markets 的 Yun Kim。

First, super congrats on a strong quarter. Olivier, your growth is accelerating and you're already at a scale that's much larger than your competition. Obviously, you can keep hiring at the current rate to support growth. Can you just talk about what you are seeing in regards to sales productivity improvement? And is it natural for you to just focus on larger deals to just keep driving higher sales productivity gains?

首先，超級祝賀一個強勁的季度。 Olivier，你的成長正在加速，你的規模已經遠遠超過你的競爭對手。顯然，您可以繼續以目前的速度招聘以支持增長。您能談談您在提高銷售效率方面看到的情況嗎？您是否很自然地只專注於更大的交易以繼續推動更高的銷售效率提升？

So first of all, our growth is not completely predicated on sales productivity because we have a largely frictionless model. So the -- part of our growth is, but part is not, which is why you see the revenue growth outpace the sales and marketing growth or expenses growth by quite a wide margin. Our focus for the year is more on scaling the team than on increasing productivity because productivity is very, very high. If you look at the cost of sale, like we're probably the best, if not close to the best in the market. So our goal is to keep scaling the team and keep getting the product set, so we can keep getting more of the same economies of scope that we already see with our customers.

所以首先，我們的增長並不完全取決於銷售效率，因為我們有一個基本上沒有摩擦的模型。所以——我們增長的一部分是，但部分不是，這就是為什麼你看到收入增長遠遠超過銷售和營銷增長或費用增長。我們今年的重點更多是擴大團隊規模，而不是提高生產力，因為生產力非常非常高。如果你看一下銷售成本，我們可能是最好的，如果不是接近市場上最好的。因此，我們的目標是繼續擴大團隊規模並繼續獲得產品集，這樣我們就可以繼續獲得更多與客戶相同的範圍經濟。

Great. And then just a quick question for David. Can we just, at a high level, talk about level of visibility you have and how that has trended over the past year? You mentioned that revenue recognition could lag the actual signing of the deals. As you sign larger deals, are you seeing increasing revenue visibility? Or some of the new deals and expansion deals take a bit longer to ramp as the deployment size gets larger?

偉大的。然後是大衛的一個簡短問題。我們能否在高層次上談談您的知名度以及過去一年的趨勢？您提到收入確認可能滯後於交易的實際簽署。當您簽署更大的交易時，您是否看到收入可見度的提高？或者隨著部署規模的擴大，一些新的交易和擴展交易需要更長的時間才能實現？

We have very consistent performance on our cohorts across the different types of customers, the way they adopt the product and ramp. And that applies to larger deals as well as smaller. So we have pretty good visibility, pretty good time series. There hasn't been a change in that pattern of adoption. And we monitor that all the time as we look at increasing our ability to predict the revenue.

在不同類型的客戶、他們採用產品的方式和坡道上，我們的群組表現非常一致。這適用於較大的交易以及較小的交易。所以我們有很好的能見度，很好的時間序列。這種採用模式沒有改變。我們一直在監控這一點，因為我們著眼於提高我們預測收入的能力。

We also, I think, are, in some cases, looking at developing a functionality in account management to help our clients adopt faster. And that is sort of around the edges, but we have a pretty good idea of how our clients are adopting.

我認為，在某些情況下，我們也在考慮開發一種賬戶管理功能，以幫助我們的客戶更快地採用。這有點接近邊緣，但我們對客戶的採用方式有一個很好的了解。

Our next question is from Mike Cikos from Needham & Company.

我們的下一個問題來自 Needham & Company 的 Mike Cikos。

The first, just coming back to the profitability guidance that we have for Q1 and for fiscal '22 now. For David, I know that you had discussed, I guess, the expectation that we would see some of these travel and in-person events kind of feather back in. I have to imagine that there's some incremental cost with these acquisitions that you guys have announced. Can you help, I guess, fine-tooth that a little bit for us as far as what's expected and how that's expected to come into the year?

首先，回到我們現在對第一季度和 22 財年的盈利能力指導。對於大衛，我知道你已經討論過，我猜，我們會看到其中一些旅行和麵對面活動的期望。我不得不想像，你們擁有的這些收購會有一些增量成本宣布。我想，你能幫我們解決一下預期的問題，以及今年的預期如何嗎？

Yes. In our guidance, we have assumed a resumption of normal T&E and marketing events. We said previously that sort of in the 3% to 4% range we estimate we've had cost savings due to lower than average T&E and marketing events. So we've incorporated that in the guidance. We'll have to see how quickly that resumes. As we said, first priority is safety of our employees. But we've incorporated that. We've also, as we said, have very aggressive hiring plans and we've incorporated that in. But as we said previously, we think the number is sort of on average around 3 plus in terms of COVID savings relative to T&E and marketing events as a percentage of revenues.

是的。在我們的指導中，我們假設恢復正常的 T&E 和營銷活動。我們之前說過，由於 T&E 和營銷活動低於平均水平，我們估計我們已經節省了 3% 到 4% 的成本。因此，我們已將其納入指南中。我們必須看看恢復的速度有多快。正如我們所說，首要任務是我們員工的安全。但我們已將其納入其中。正如我們所說，我們還制定了非常積極的招聘計劃，並將其納入其中。但正如我們之前所說，我們認為與 T&E 和營銷相比，COVID 節省的數量平均約為 3 倍事件佔收入的百分比。

Great. And then just, I guess, a 2-part question here, but more housekeeping. The first, I know in previous quarters, and maybe I missed it on this call here, but you guys have discussed how new logo lands are typically coming in with 2-plus products 70% to 75% of the time. So first question would be, is that still the case?

偉大的。然後，我想，這裡是一個兩部分的問題，但更多的是家務。第一個，我在前幾個季度就知道了，也許我在這次電話會議上錯過了它，但你們已經討論了新的標誌土地通常是如何在 70% 到 75% 的時間裡與 2 種以上的產品一起出現的。所以第一個問題是，情況仍然如此嗎？

And then the second question, I know that you're talking about gross retention now improving to the mid- to high 90s range. It had been mid-90s. I think before that, it was mid- to low 90s. So can you just help us think of what are the investments or what is it you guys are doing to drive those gross retention rates up over time? And congratulations on that effort as well.

然後是第二個問題，我知道您所說的總留存率現在正在提高到 90 年代的中高水平。那是90年代中期。我認為在那之前，它是 90 年代的中低端。所以你能不能幫我們想想投資是什麼，或者你們正在做什麼來推動這些總保留率隨著時間的推移而上升？並祝賀這一努力。

Thank you. On the first question, yes, the land percentage of more than 1 product remains similar to what we said previously, in the 70s. No change in that motion. In terms of the gross retention, with the platform expanding and the standardization, one, we see some more stickiness. And as we always have, we're focusing on both account management, technical account management, working with our clients over a long term, which we've done and continue to do. Oli?

謝謝你。在第一個問題上，是的，超過 1 種產品的土地百分比仍然與我們之前所說的相似，在 70 年代。那個動作沒有變化。在總留存方面，隨著平台的擴大和標準化，我們看到了更多的粘性。和往常一樣，我們專注於客戶管理、技術客戶管理、與客戶長期合作，我們已經並將繼續這樣做。奧利？

Yes. And to close on that, I mean, we deliver a great product that's a must have for our customers, that has extremely high adoption and usage across our customer base, that delivers great value for them. And we know it delivers great value. We're not surprised by anything because we have this unbundling approach that lets us really quickly understand that what customers pay for is basically part of our platform and will be expected out of it. So that's what makes the gross retention stay up and go up over time.

是的。最後，我的意思是，我們提供了一個偉大的產品，這是我們的客戶必須擁有的，在我們的客戶群中具有極高的採用率和使用率，為他們帶來了巨大的價值。我們知道它提供了巨大的價值。我們對任何事情都不會感到驚訝，因為我們有這種分拆方法，讓我們能夠真正快速地了解客戶支付的費用基本上是我們平台的一部分，並且會被期望從中得到。所以這就是讓總留存率隨著時間的推移而保持上升的原因。

I'd now like to turn the call over -- back over to Olivier Pomel for closing remarks.

我現在想把電話轉過來——回到 Olivier Pomel 做結束語。

All right. Thank you. Thank you all. In closing, I'll just repeat that we are very, very pleased with our performance this quarter. And I also want to thank all Datadogs around the world for their hard work in 2021. I know they're excited for what's in store for 2022 and so am I. So thank you all.

好的。謝謝你。謝謝你們。最後，我將重申我們對本季度的表現非常非常滿意。我還要感謝世界各地的所有 Datadogs 在 2021 年的辛勤工作。我知道他們對 2022 年的事情感到興奮，我也是。所以謝謝大家。

Thank you, ladies and gentlemen. That concludes (technical difficulty) Thank you for participating, and you may now disconnect.

謝謝你們，女士們，先生們。到此結束（技術難度）感謝您的參與，您現在可以斷開連接。