數據狗 (DDOG) 2020 Q4 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to the Q4 2020 Datadog Earnings Conference Call.

女士們、先生們，感謝你們的支持，歡迎參加 2020 年第四季 Datadog 收益電話會議。

(Operator Instructions) Thank you.

（操作員說明）謝謝。

I would now like to turn the call over to your speaker today, Mr. A.J. Ljubich.

我現在想將電話轉給今天的講者 A.J. 先生。柳比奇。

Please go ahead.

請繼續。

Thank you, Tino.

謝謝你，蒂諾。

Good afternoon, and thank you for joining us today to review Datadog's Fourth Quarter and Full Year 2020 Financial Results, which we announced in our press release issued after the close of market today.

下午好，感謝您今天與我們一起回顧 Datadog 的 2020 年第四季度和全年財務業績，我們在今天收盤後發布的新聞稿中宣布了這一結果。

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 聯合創始人兼執行長 Olivier Pomel；和 David Obstler Datadog 的財務長。

During this call, we will make statements related to our business that are forward looking under federal securities laws that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our future financial performance, including our outlook for the first quarter and for the full year 2021; our strategy, the potential benefits of our products, partnerships and investments in R&D and go to market; our ability to capitalize on our market opportunity; and the impact of the COVID-19 pandemic on our customers' usage of our platform and industry trends as well as the ability to benefit from these trends.

在本次電話會議中，我們將根據聯邦證券法（根據1995 年《私人證券訴訟改革法案》的安全港條款制定）做出與我們業務相關的前瞻性聲明，包括與我們未來財務表現相關的聲明，包括我們的2021 年第一季和全年展望；我們的策略、我們產品的潛在優勢、合作夥伴關係以及研發和上市方面的投資；我們利用市場機會的能力；以及 COVID-19 大流行對客戶使用我們平台和行業趨勢的影響以及從這些趨勢中受益的能力。

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.

預期、相信、繼續、估計、期望、打算、意願和類似表達等詞語旨在識別前瞻性陳述或未來預期的類似指示。

These statements reflect our views only as of today and not as of any subsequent date.

這些聲明僅反映我們今天的觀點，不代表任何後續日期。

These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations.

這些陳述受到各種風險和不確定性的影響，可能導致實際結果與預期有重大差異。

For a discussion of the material risks and other important factors that could affect our actual results, please refer to our quarterly report on Form 10-Q for the quarterly period ended September 30, 2020, filed with the SEC on November 12, 2020.

有關可能影響我們實際業績的重大風險和其他重要因素的討論，請參閱我們於 2020 年 11 月 12 日向 SEC 提交的截至 2020 年 9 月 30 日的季度 10-Q 表格季度報告。

Additional information will be made available in our annual report on Form 10-K for the period ended December 31, 2020, and other filings and reports that we may file from time to time with the SEC.

更多資訊將在我們截至 2020 年 12 月 31 日的 10-K 表格年度報告以及我們可能不時向 SEC 提交的其他文件和報告中提供。

Our filings with the SEC are available on the Investor Relations section of our website.

我們向 SEC 提交的文件可在我們網站的投資者關係部分查看。

A replay of this call will also be made available there for a limited time.

該電話會議也將在有限時間內重播。

Non-GAAP financial measures will be discussed on this conference call.

本次電話會議將討論非公認會計準則財務措施。

Please refer to the tables in our earnings release, which can be found on the Investor Relations portion of our website for a reconciliation of these measures to the most directly comparable GAAP financial measure.

請參閱我們的收益報告中的表格，這些表格可以在我們網站的投資者關係部分找到，以將這些指標與最直接可比較的公認會計原則財務指標進行核對。

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

說到這裡，我想把電話轉給奧利維爾。

Thank you, A.J., and thank you all for joining us today.

謝謝你，A.J.，也謝謝大家今天加入我們。

We are very pleased with our performance in Q4, which once again showed high growth at scale and demonstrated efficiencies.

我們對第四季的業績感到非常滿意，再次展現出規模的高速成長和效率。

Despite the unique challenges presented by COVID, we continued in 2020 to introduce new products at a high velocity, grow top line at a rapid rate and demonstrate strong operating efficiencies.

儘管新冠疫情帶來了獨特的挑戰，我們在 2020 年繼續高速推出新產品，快速成長營收並展現出強勁的營運效率。

We are, in particular, very proud of the way our teams have handled the pandemic as well as the year's other unprecedented challenges.

我們尤其對我們的團隊處理這場流行病以及今年其他前所未有的挑戰的方式感到非常自豪。

We ended the year with 2,185 employees globally, a 56% increase year-over-year, with high growth above both our go-to-market and R&D teams.

截至年底，我們在全球擁有 2,185 名員工，年增 56%，成長速度高於我們的市場推廣和研發團隊。

One of our strategic decisions at the beginning of the pandemic was to keep on hiring.

疫情爆發之初，我們的策略決策之一就是繼續招募。

And we have been able to interview, hire and onboard remotely while maintaining high employee engagement and productivity.

我們能夠遠距面試、招募和入職，同時保持較高的員工敬業度和生產力。

Throughout the year, we have worked to keep our employees safe and productive and to be good citizens of our communities as they face significant challenges.

在這一年裡，我們一直致力於確保員工的安全和生產力，並在他們面臨重大挑戰時成為社區的好公民。

We are very proud of the exceptional grants we have awarded to our employees in Q2 and Q4, both to support them individually and to allow them to donate nearly $1 million to charities focused on COVID relief as well as social and racial justice efforts.

我們為第二季和第四季向員工提供的特殊補助金感到非常自豪，這些補助金既用於個人支持他們，又允許他們向專注於新冠疫情救援以及社會和種族正義努力的慈善機構捐贈近100 萬美元。

Last but certainly not least, we have maintained our relentless focus on delivering value to our customers.

最後但並非最不重要的一點是，我們始終堅持不懈地致力於為客戶提供價值。

And while the pandemic has been a source of challenges to businesses this year, we believe it will prove to be an accelerator of cloud migration and digital transformation over time.

儘管疫情為今年的企業帶來了挑戰，但我們相信，隨著時間的推移，它將成為雲端遷移和數位轉型的加速器。

In other words, we learned a lot this year, including our ability to execute in the face of challenges as well as confirmation of a very large and growing market opportunity.

換句話說，我們今年學到了很多東西，包括我們面對挑戰的執行能力以及對非常大且不斷增長的市場機會的確認。

Now on to a review of the quarter.

現在回顧本季。

To summarize Q4 at a high level, revenue was $178 million, an increase of 56% year-over-year and above the high end of our guidance range.

從高水準總結第四季度，營收為 1.78 億美元，年增 56%，高於我們指導範圍的上限。

We also ended the year with 97 customers with an ARR of $1 million or more, almost double the 50 last year and more than 3x the 29 we had just 2 years ago.

截至年底，我們還有 97 名客戶的 ARR 達到或超過 100 萬美元，幾乎是去年 50 名客戶的兩倍，是兩年前 29 名客戶的三倍多。

We ended the year with 1,253 customers with an ARR of $100,000 or more, up from 858 last year.

截至年底，我們有 1,253 名客戶的 ARR 達到或超過 10 萬美元，高於去年的 858 名。

These customers generate over 75% of our ARR.

這些客戶產生了我們 75% 以上的 ARR。

We have about 14,200 customers, up from about 10,500 last year, which means we added about 1,100 customers in the quarter, making it another strong quarter of adds after the 1,000 we added in Q3.

我們擁有約 14,200 名客戶，高於去年的約 10,500 名，這意味著我們在本季度增加了約 1,100 名客戶，這是繼第三季度增加 1,000 名客戶之後又一個強勁的季度。

We also continue to be capital efficient with free cash flow of $70 million.

我們也持續保持資本效率，自由現金流達 7,000 萬美元。

And as in past quarters, our dollar-based net retention rate was over 130% as customers increased their usage and adopted our newer products.

與過去幾季一樣，隨著客戶使用量的增加並採用我們的新產品，我們以美元計算的淨保留率超過 130%。

For the full year, we generated revenue of $603 million, a 66% increase year-over-year, which was above the high end of our guidance.

全年，我們營收 6.03 億美元，年增 66%，高於我們指導的上限。

And free cash flow was $83 million or a margin of 14% for the year.

本年度自由現金流為 8,300 萬美元，利潤率為 14%。

Now to review Q4 in more detail.

現在更詳細地回顧第四季。

Execution was very strong with outstanding sales performance, particularly against the macro backdrop.

執行力非常強勁，銷售業績出色，尤其是在宏觀背景下。

New logo generation was very strong, including a new record of new logo ARR added that was significantly above last year's number, very strong performance across the board from commercial and enterprise sales channels as well as a record number of million-dollar-plus new logo customers.

新標誌的產生非常強勁，包括ARR添加的新標誌數量創下新紀錄，大大高於去年的數量，商業和企業銷售管道的全面表現非常強勁，以及創紀錄的百萬美元以上新標誌數量顧客。

Growth of existing customers was robust as customers of all sizes continue to grow their usage of Datadog to both increase consumption and cross-selling, and Q4's growth of existing customers was broadly in line with pre-COVID trends.

隨著各種規模的客戶繼續增加 Datadog 的使用量以增加消費和交叉銷售，現有客戶的成長強勁，第四季度現有客戶的成長與新冠疫情爆發前的趨勢基本一致。

Lastly, churn remains very low and consistent with pre-pandemic historical rates.

最後，客戶流失率仍然非常低，並且與疫情前的歷史比率一致。

Next, our platform strategy continues to resonate and win in the market.

接下來，我們的平台策略繼續在市場上引起共鳴並獲勝。

As of the end of Q4, 72% of customers are using 2 or more products, which is up from 58% last year.

截至第四季末，72% 的客戶正在使用 2 種或更多產品，高於去年的 58%。

Additionally, 22% of customers are using 4 or more products, which is up from only 10% a year ago.

此外，22% 的客戶正在使用 4 種或更多產品，這一比例高於一年前的 10%。

And we have another quarter in which approximately 75% of new logos landed with 2 or more products.

在另一個季度，大約 75% 的新標誌出現在 2 種或更多產品上。

We are very happy with our platform traction, including uptake of the newest products, NPM, RUM and Security, each of which has reached hundreds or thousands of customers in a short amount of time.

我們對我們的平台吸引力感到非常滿意，包括最新產品、NPM、RUM 和 Security 的採用，每個產品都在短時間內吸引了數百或數千名客戶。

As a reminder, our newer products are often adopted first by first selecting customers at small scale before our land-and-expand model enables greater adoption over time.

提醒一下，我們的新產品通常首先透過先小規模選擇客戶來採用，然後我們的土地和擴展模型才能隨著時間的推移獲得更大的採用。

And frictionless adoption from our single integrated platform is a key value proposition for our customers.

對於我們的客戶來說，無摩擦地採用我們的單一整合平台是一個關鍵的價值主張。

Overall, our ability to both land and expand in a very challenging time speaks to our true execution, to our leading product and to our status as a strategic partner to our customers as they prioritize their digital operations.

總體而言，我們在充滿挑戰的時期落地和擴張的能力證明了我們真正的執行力、我們的領先產品以及我們作為客戶策略合作夥伴的地位，因為他們優先考慮數位化營運。

Now on to products and R&D.

現在談談產品和研發。

Today, we announced 2 acquisitions.

今天，我們宣布了兩項收購。

First, we announced an agreement to acquire Sqreen, a SaaS-based security platform that enables enterprises to detect, block and respond to application level attacks.

首先，我們宣布達成協議，收購 Sqreen，這是一個基於 SaaS 的安全平台，使企業能夠偵測、阻止和回應應用程式級攻擊。

Sqreen's technology provides Runtime Application Self-Protection or RASP and in-app web application firewall also known as WAF and is already used by hundreds of companies today.

Sqreen 的技術提供運行時應用程式自我保護（RASP）和應用程式內 Web 應用程式防火牆（也稱為 WAF），目前已被數百家公司使用。

Security issue in the application layer are complex to solve because application security crosses lines of responsibility between dev, ops and security teams.

應用程式層的安全問題解決起來很複雜，因為應用程式安全性跨越了開發、營運和安全團隊之間的職責範圍。

As a result, we believe this will be a powerful combination for our customers using APM or Synthetics.

因此，我們相信這對於使用 APM 或 Synthetics 的客戶來說將是一個強大的組合。

Next, we also announced the acquisition of Timber Technologies, the developers of Vector, a vendor-agnostic and high-performance observability data pipeline.

接下來，我們也宣布收購 Timber Technologies，它是 Vector 的開發商，Vector 是一個與供應商無關的高效能可觀測資料管道。

With Vector, customers can collect enrich and transform logs and other signals across multiple tools and data sources in both on-premise and cloud environments and then routes this data to the destination of their choice.

借助 Vector，客戶可以在本地和雲端環境中跨多個工具和資料來源收集豐富和轉換日誌及其他訊號，然後將此資料路由到他們選擇的目的地。

We expect this technology to further empower our customers to control their observability data while providing broader points of entry to our platform.

我們希望這項技術能進一步幫助我們的客戶控制他們的可觀測數據，同時為我們的平台提供更廣泛的入口點。

I speak for everyone at Datadog in saying that we are extremely excited for the teams of both companies to join us in our quest to breakdown silos.

我代表 Datadog 的每個人說，我們非常高興兩家公司的團隊能夠加入我們，共同探索打破孤島的道路。

Beyond the acquisition, we had a number of new developments in Q4.

除了收購之外，我們在第四季還有許多新進展。

We launched the general availability of Incident Management, which allows users to declare incidents, investigate root cause and collaborate without leaving Datadog.

我們推出了事件管理的通用版本，允許用戶在不離開 Datadog 的情況下聲明事件、調查根本原因並進行協作。

And we also delivered more than 60 other new capabilities and features across our products, including new and enhanced integrations such as Snowflake, Oracle Cloud or vulnerability analysis marrying Snyk with our brand-new Continuous Profiler.

我們還在我們的產品中提供了 60 多項其他新功能和特性，包括新的和增強的集成，例如 Snowflake、Oracle Cloud 或將 Snyk 與我們全新的 Continuous Profiler 相結合的漏洞分析。

Now taking a step back.

現在退一步。

We exit 2020 with 9 generally available product.

2020 年，我們將推出 9 款全面上市的產品。

To put this in context, just 4 years ago, we had only 1 product.

就上下文而言，就在 4 年前，我們只有 1 個產品。

And we have been able to build the most complete, integrated and cloud-native observability platform because of our founding as an integrated -- integration platform that is extensible to new use cases.

由於我們是一個可擴展到新用例的整合平台，因此我們能夠建立最完整、整合和雲端原生的可觀察性平台。

Looking forward to 2021, we continue to feel that we're just getting started.

展望 2021 年，我們仍然覺得我們才剛開始。

First, we are doubling down on building out our platform for observability.

首先，我們正在加倍努力建立可觀察性平台。

This core market alone is a very large opportunity and is growing quickly with the replatforming to cloud architectures.

光是這個核心市場就是一個非常大的機會，並且隨著雲端架構的重新平台而快速成長。

We're still early in this transition and are aggressively adding functionality to both the new SKUs as well as the more mature products.

我們仍處於這一轉變的早期階段，並且正在積極為新 SKU 以及更成熟的產品添加功能。

Second, we are just getting started in security with our first product launch in 2020.

其次，我們在 2020 年推出了首款產品，這在安全方面才剛開始。

We consider security a very large opportunity with a long runway of planned product development, and we envision the silos between dev, sec and ops breaking down in a similar way to what we have seen between dev and ops.

我們認為安全性是一個非常大的機會，有一個很長的計劃產品開發跑道，我們預計開發、安全和運維之間的孤島會以類似於我們在開發和運維之間看到的方式被打破。

Third, we are investing in the platform and ecosystem.

第三，我們正在投資平台和生態系統。

In addition to building up the Datadog Marketplace, we now have strategic partnerships with all of the major cloud vendors.

除了建立 Datadog Marketplace 之外，我們現在還與所有主要雲端供應商建立了策略合作夥伴關係。

For example, we announced the expansion of our partnership with Azure and GCP last quarter, which should be in the market in 2021.

例如，我們上季宣布擴大與 Azure 和 GCP 的合作關係，預計將於 2021 年上市。

We are also introducing new cloud instances in regions such as GovCloud.

我們也在 GovCloud 等區域引入新的雲端實例。

Our goal is to gain distribution across vendors and regions and meet customers where they are to lower friction to adoption and to lower time to value.

我們的目標是獲得跨供應商和地區的分銷，並滿足客戶的需求，以減少採用的阻力並縮短實現價值的時間。

And as we think longer term beyond 2021, we do believe there may be more use cases we can solve for our customers beyond current reach of our platform.

從 2021 年以後的長遠來看，我們確實相信我們可以為客戶解決更多超出我們平台當前範圍的用例。

Let's move on to the sales and marketing.

讓我們繼續討論銷售和行銷。

As I mentioned earlier, I'm very pleased with the continued productivity of our go-to-market teams, and Q4 was a very strong [fourth] quarter.

正如我之前提到的，我對我們的上市團隊的持續生產力感到非常滿意，第四季是一個非常強勁的季度。

So let's discuss some of our wins in the quarter.

因此，讓我們討論一下本季我們所取得的一些成果。

First, let's talk a bit about the way COVID has accelerated digital transformation (inaudible).

首先，我們來談談新冠疫情加速數位轉型的方式（聽不清楚）。

As expected, in the quarter, we saw 7-figure ARR increases from COVID beneficiaries such as consumer -- a consumer data -- sorry, such as a consumer device company, a large e-commerce platform and a global video games company.

正如預期的那樣，在本季度，我們看到新冠肺炎受益者的ARR 增長了7 位數，例如消費者（消費者數據），抱歉，例如一家消費設備公司、一家大型電子商務平台和一家全球視頻遊戲公司。

Perhaps more surprisingly, though, we also had a number of notable upsells from companies that were negatively impacted by the pandemic, including a 7-figure upsell to a travel technology company and 6-figure upsells to 2 separate airlines as well as a physical events company.

但也許更令人驚訝的是，我們也收到了許多受到疫​​情負面影響的公司的顯著追加銷售，包括向一家旅遊技術公司進行了7 位數的追加銷售，向2 家獨立航空公司進行了6位數的追加銷售，以及一場實體活動公司。

These deals demonstrate that Datadog is a key strategic partner to companies that are scaling rapidly over online as well as the fact that businesses even in the most negatively impacted industries are investing heavily in their digital operations.

這些交易表明，Datadog 是那些在線上快速擴張的公司的重要策略合作夥伴，而且事實上，即使是受負面影響最嚴重的行業，企業也在對其數位營運進行大量投資。

Now let's dive into some of our other key wins for the quarter.

現在讓我們深入了解本季的其他一些關鍵成果。

First, I will highlight 2 notable 7-figure lands both with Fortune 100 companies, a retailer and an insurance company.

首先，我將重點介紹兩處著名的 7 位數土地，其中包括財富 100 強公司、一家零售商和一家保險公司。

Both have been struggling with teams in separate silos and are consolidating dozens of tools into Datadog, giving a single view to both dev and ops teams.

兩者都一直在與處於不同孤島的團隊進行鬥爭，並且正在將數十種工具整合到 Datadog 中，為開發和營運團隊提供單一視圖。

Next, we had a 7-figure land from a streaming sports platform in Asia, which was enabled by our new Datadog partner program.

接下來，我們從亞洲的一個串流媒體體育平台獲得了一塊價值 7 位數的土地，這是由我們新的 Datadog 合作夥伴計劃支持的。

This company adopted a full Datadog platform and our Tracing without Limits approach was a key differentiator as their previous APM solution suffered from blind spots due to sampling and to a lack of integration with infrastructure data.

該公司採用了完整的 Datadog 平台，而我們的無限制追蹤方法是一個關鍵的差異化因素，因為他們先前的 APM 解決方案由於採樣以及缺乏與基礎設施數據的整合而存在盲點。

Next, we had yet another 7-figure land this time from a SaaS company based in EMEA.

接下來，我們這次從一家位於 EMEA 的 SaaS 公司獲得了另一塊價值 7 位數的土地。

This company moves to us from a build-it-yourself approach and [free] engineers, so they could build more products and deliver innovation.

這家公司從自行建立方法和[免費]工程師轉向我們，這樣他們就可以建立更多產品並提供創新。

Lastly, we had a nearly $1 million upsell to a very large management consulting firm.

最後，我們向一家非常大的管理顧問公司追加銷售了近 100 萬美元。

This company is now using our Network Device Monitoring product to replace legacy point solution and gain visibility into physical network devices.

該公司現在正在使用我們的網路設備監控產品來取代傳統的單點解決方案並獲得對實體網路設備的可見性。

I would also note that this was one of the first expansion deals to benefit from our brand-new Marketplace offerings, in this case, a partner-developed integration with Office 365.

我還要指出的是，這是受益於我們全新的 Marketplace 產品的首批擴展交易之一，在本例中，是合作夥伴開發的與 Office 365 的整合。

Now moving on to our outlook.

現在繼續我們的展望。

It is clear to us that the market trends that have driven our success so far have only gotten stronger.

我們很清楚，迄今為止推動我們成功的市場趨勢只會變得更加強勁。

Businesses must be digital first like never before.

企業必須以前所未有的方式先數位化。

Massive IT platform management by cloud migration is still in its early stages, and engineers and developers are truly strategic employees whose productivity and ability to collaborate are key drivers of business performance.

透過雲端遷移進行的大規模 IT 平台管理仍處於早期階段，工程師和開發人員是真正的策略員工，他們的生產力和協作能力是業務績效的關鍵驅動因素。

While there is a possibility for more near-term volatility caused by the macro environment, we are increasingly confident in our ability to execute in a long-term opportunity.

儘管宏觀環境可能會導致短期波動更大，但我們對執行長期機會的能力越來越有信心。

And we believe that we can continue to sustain strong growth both in the near term and over time.

我們相信，我們可以在短期內和長期內繼續保持強勁成長。

With that, I would like to turn the call over to our Chief Financial Officer, David Obstler.

說到這裡，我想將電話轉給我們的財務長 David Obstler。

David?

大衛？

Yes.

是的。

Thanks, Olivier.

謝謝，奧利維爾。

As mentioned, we delivered strong fourth quarter top and bottom line results amid a difficult macro backdrop.

如前所述，我們在困難的宏觀背景下實現了強勁的第四季頂線和底線業績。

Revenue was $177.5 million, up 56% year-over-year against the challenging year ago comp.

營收為 1.775 億美元，與去年同期相比成長 56%。

New logo generation was very strong.

新標誌的產生非常強勁。

Usage trends were solid.

使用趨勢穩定。

Platform traction continued to be strong, and churn was in line to better than historical norms.

平台吸引力持續強勁，客戶流失率也優於歷史正常水準。

To provide some more context, first, new logo results were very strong.

為了提供更多背景信息，首先，新徽標的結果非常強勁。

Both new logo ARR and the number of new logos were records for Datadog, displaying strong growth versus a year ago.

新標誌 ARR 和新標誌數量均創 Datadog 記錄，與一年前相比呈現強勁成長。

New business contributions came across regions and from both our commercial and enterprise sales channels.

新的業務貢獻來自各個地區以及我們的商業和企業銷售管道。

Remember that given our usage-based revenue model, new logo wins generally do not immediately translate into revenue.

請記住，考慮到我們基於使用的收入模式，新徽標的勝利通常不會立即轉化為收入。

Growth of existing customers was robust, and our dollar-based net retention remained above 130% for the 14th consecutive quarter.

現有客戶成長強勁，以美元計算的淨保留率連續 14 個季度保持在 130% 以上。

We are pleased with the usage growth of existing customers, which showed continued adoption of our platform and their cloud migration even in the face of the macro pressures.

我們對現有客戶的使用量成長感到高興，這表明即使面臨宏觀壓力，我們的平台及其雲端遷移仍在繼續採用。

To go into a little more detail, growth of existing customers was broadly in line with long-term trends and meaningfully better than the level experienced in Q2 of last year.

更詳細地說，現有客戶的成長與長期趨勢基本一致，並且明顯優於去年第二季的水平。

As a reminder, even though we have now experienced 2 quarters of usage growth that was approximately in line with pre-pandemic levels, Q2 was meaningfully pressured, and that pressure will impact our year-over-year metrics, including revenue growth and net retention until we lap that compare.

提醒一下，儘管我們現在已經經歷了兩個季度的使用量增長，大致與大流行前的水平一致，但第二季度面臨著很大的壓力，這種壓力將影響我們的同比指標，包括收入增長和淨保留率直到我們完成比較。

Next, in the fourth quarter, we saw continued strength of our platform strategy with over 70% of our customers using 2 or more products and 22% of our customers now using 4 or more products, up from only 10% a year ago.

接下來，在第四季度，我們看到我們的平台策略持續強勁，超過70% 的客戶使用2 種或更多產品，22% 的客戶現在使用4 種或更多產品，而一年前僅為10%。

Given that 75% plus of our lands now come from 2 or more products, we believe the overall share of customers using 2-plus products is closing in on that number.

鑑於我們 75% 以上的土地現在來自 2 種或更多產品，我們相信使用 2 種以上產品的客戶整體比例正在接近這個數字。

Lastly, churn was in line to slightly better than historical levels.

最後，客戶流失率略優於歷史水準。

This demonstrates the importance of our solution to our customers even during challenging times.

這表明，即使在充滿挑戰的時期，我們的解決方案對客戶也很重要。

Our dollar-based gross retention rate has remained largely unchanged in the low to mid-90s.

我們以美元計算的總保留率在 90 年代低至中期基本保持不變。

Now turning to billings, which were $219.4 million, up 68% year-over-year.

現在轉向營收，為 2.194 億美元，年增 68%。

After adjusting for the timing of $6 million of billings in last year's fourth quarter, pro forma billings growth was 61% year-over-year, strong and approximately in line with revenue growth.

在去年第四季 600 萬美元的帳單時間進行調整後，預估帳單年增 61%，強勁且與營收成長大致一致。

Remaining performance obligations, or RPO, was $434 million, up 78% year-over-year.

剩餘履約義務（RPO）為 4.34 億美元，年增 78%。

Both billings and contract duration extended in the quarter driven by strong annual billings and commitments as well as a few larger multiyear commits.

在強勁的年度帳單和承諾以及一些較大的多年承諾的推動下，本季度的帳單和合約期限均有所延長。

It is important to note that those multiyear commits were billed annually, and we do not incentivize our sales force for multiyear deals given our high net retention rate.

值得注意的是，這些多年承諾是按年計費的，鑑於我們的淨保留率很高，我們不會激勵我們的銷售人員進行多年交易。

Current RPO growth was strong in the mid-60s, similar to billings growth.

目前 RPO 成長在 60 年代中期強勁，與比林斯成長類似。

As a reminder, billings and RPO can fluctuate versus revenue based on the timing of invoicing and the signing of customer contracts, while revenue incorporates customer usage.

提醒一下，帳單和 RPO 可能會根據開立發票的時間和客戶合約的簽署而隨收入而波動，而收入則包含客戶使用情況。

Now let's review the income statement in more detail.

現在讓我們更詳細地回顧一下損益表。

As a reminder, unless otherwise noted, all metrics are non-GAAP.

提醒一下，除非另有說明，所有指標均為非 GAAP 指標。

We have provided a reconciliation of GAAP to non-GAAP financials in our earnings release.

我們在收益報告中提供了 GAAP 與非 GAAP 財務數據的調整表。

Gross profit in the quarter was $137.6 million, representing a gross margin of 78%.

該季度毛利為 1.376 億美元，毛利率為 78%。

This compares to a gross margin of 79% last quarter and 78% in the year ago period.

相較之下，上季毛利率為 79%，去年同期毛利率為 78%。

The slight decrease in gross margin sequentially is due to minor inefficiencies created from our investments in product and platform innovation.

毛利率較上季略有下降是由於我們在產品和平台創新方面的投資造成了輕微的效率低下。

As a reminder, our gross margins may fluctuate quarter-to-quarter within an acceptable range as we prioritize product development and innovation as well as the build-out of our cloud data centers in newer geographies.

提醒一下，我們的毛利率可能會在可接受的範圍內按季度波動，因為我們優先考慮產品開發和創新以及在新地區建造雲端資料中心。

R&D expense was $53.5 million or 30% of revenues compared to 27% in the year ago quarter.

研發費用為 5,350 萬美元，佔營收的 30%，去年同期為 27%。

We have continued to invest significantly in R&D, including high growth of our engineering head count, which was -- which we added approximately 370 net R&D heads over the course of 2020.

我們繼續在研發方面進行大量投資，包括工程人員數量的高速成長，我們在 2020 年淨增加了約 370 名研發人員。

We have been able to attract talent and execute on hiring and onboarding during COVID.

在新冠疫情期間，我們能夠吸引人才並執行招募和入職工作。

Sales and marketing expense was $52.5 million or 30% of revenues compared to 35% in the year ago period.

銷售和行銷費用為 5,250 萬美元，佔收入的 30%，而去年同期為 35%。

Similar to R&D, we continued to make substantial investments in sales and marketing, but the pace of revenue growth has outpassed that investment.

與研發類似，我們繼續在銷售和行銷方面進行大量投資，但收入成長的速度已經超過了投資。

This was another quarter of no in-person trade shows or marketing events.

這是又一個沒有現場貿易展或行銷活動的季度。

While we have successfully redeployed much of the events budget to advertising and other lead generating activities, it was not on a 1:1 ratio.

雖然我們已成功地將大部分活動預算重新部署到廣告和其他潛在客戶開發活動中，但比例並非 1:1。

G&A expense was $13.5 million or 8% of revenues, slightly lower than the 9% in the year ago quarter, and operating income was $18.1 million or 10% operating margin compared to an operating income of $7.9 million with a 7% margin in the year ago period.

G&A 費用為 1,350 萬美元，佔營收的 8%，略低於去年同期的 9%；營業收入為 1,810 萬美元，營業利潤率為 10%，而今年營業收入為 790 萬美元，利潤率為 7%前一段時間。

The continued reduction in marketing, events, travel and entertainment and facilities overhead due to COVID were the primary drivers in the year-over-year leverage.

由於新冠疫情，行銷、活動、旅行和娛樂以及設施管理費用的持續減少是同比槓桿率的主要驅動因素。

Headcount growth was approximately in line with revenue growth in the quarter.

本季員工人數成長與營收成長大致一致。

Non-GAAP net income in the quarter was $19.1 million or $0.06 per share based on a 334 million weighted average diluted shares outstanding.

根據 3.34 億股加權平均稀釋後流通股計算，本季非 GAAP 淨利為 1,910 萬美元，即每股 0.06 美元。

Turning to the balance sheet and cash flow.

轉向資產負債表和現金流量。

We ended the quarter with $1.5 billion in cash, cash equivalents, restricted cash and marketable securities.

本季結束時，我們擁有 15 億美元的現金、現金等價物、限制性現金和有價證券。

Cash flow from operations was $23.8 million in the quarter.

本季營運現金流為 2,380 萬美元。

After taking into consider capital expenditures and capitalized software, free cash flow was $16.7 million for a margin of 9%.

考慮到資本支出和資本化軟體後，自由現金流為 1,670 萬美元，利潤率為 9%。

For the full year, free cash flow was $83.2 million or 14% margin.

全年自由現金流為 8,320 萬美元，利潤率為 14%。

Now turning to the outlook for the first quarter and the full year of 2021.

現在轉向對 2021 年第一季和全年的展望。

As Olivier mentioned, we believe we can deliver high growth for the foreseeable future as we are addressing a very large greenfield market and are executing well against that opportunity.

正如奧利維爾所提到的，我們相信我們可以在可預見的未來實現高速成長，因為我們正在應對一個非常大的綠地市場，並且在這個機會中執行得很好。

As we look out to 2021, COVID continues to present some uncertainty.

展望 2021 年，新冠疫情持續帶來一些不確定性。

On the one hand, we believe the pandemic will accelerate digital transformation and cloud migration once the near-term pressure subsides.

一方面，我們相信一旦短期壓力消退，疫情將加速數位轉型和雲端遷移。

However, the timing and path of normalization remains uncertainty.

然而，正常化的時間和路徑仍存在不確定性。

Taking in combination, we are initiating the following 2021 guidance, which includes continued high growth.

綜合考慮，我們正在啟動以下 2021 年指導，其中包括持續的高成長。

Beginning with the first quarter, we expect revenue to be in the range of $185 million to $187 million, which represents a year-over-year growth of 42% at the midpoint.

從第一季開始，我們預計營收將在 1.85 億美元至 1.87 億美元之間，中間值將年增 42%。

Non-GAAP operating income is expected to be in the range of $8 million to $10 million, and non-GAAP net income per share is expected to be $0.02 to $0.03 per share based on approximately 345 million weighted average diluted shares.

非 GAAP 營業收入預計在 800 萬至 1,000 萬美元之間，非 GAAP 每股淨利潤預計為 0.02 至 0.03 美元（基於約 3.45 億股加權平均稀釋股份）。

For the full year, revenue is expected to be in the range of $825 million to $835 million, which represents 38% year-over-year growth at the midpoint.

全年營收預計在 8.25 億美元至 8.35 億美元之間，中間值年增 38%。

Non-GAAP operating income is expected to be in the range of $35 million to $45 million, and non-GAAP net income per share is expected to be in the range of $0.10 to $0.14 per share based on approximately 348 million weighted average diluted shares.

非 GAAP 營業收入預計在 3,500 萬美元至 4,500 萬美元之間，非 GAAP 每股淨利潤預計在每股 0.10 美元至 0.14 美元之間（基於約 3.48 億股加權平均稀釋股票）。

Now some notes on the guidance.

現在關於指南的一些註釋。

Embedded in the guidance are prudent assumptions on growth of existing customers as well as new logo attainment, which reflect some of the current macro uncertainties.

該指南中包含了對現有客戶成長以及新標誌實現的審慎假設，這反映了當前宏觀的一些不確定性。

Next, our strategic focus remains on investing to optimize for long-term growth.

接下來，我們的策略重點仍然是投資以優化長期成長。

Therefore, we're planning to continue aggressive investments in both R&D and go to market throughout 2021.

因此，我們計劃在 2021 年繼續積極投資研發和上市。

While we have been profitable throughout 2020 and plan to be in 2021, we are not focused on optimizing near-term profitability.

雖然我們在 2020 年全年實現盈利，並計劃在 2021 年實現盈利，但我們並不專注於優化短期盈利能力。

Rather, the efficiencies of our business are clearly evident, and we are confident in our ability to be a sizable and materially profitable company over the long term.

相反，我們業務的效率是顯而易見的，我們對長期成為一家規模龐大且可獲利的公司充滿信心。

Additionally, our model assumes a return to the office and a resumption of travel and in-person events in the second half of the year.

此外，我們的模型假設下半年將返回辦公室並恢復旅行和麵對面活動。

We have limited visibility presently on these topics but believe it's prudent to incorporate that in our outlook.

目前我們對這些主題的了解有限，但相信將其納入我們的展望中是謹慎的做法。

Next, of the 2 acquisitions, Timber Technologies have closed and has no impact to our guidance.

接下來，在這兩項收購中，Timber Technologies 已經完成，對我們的指導沒有影響。

We also announced the agreement to acquire Sqreen for total transaction costs of $260 million, of which approximately 25% is deferred in a mix of cash and stock.

我們也宣布同意以 2.6 億美元的總交易成本收購 Sqreen，其中約 25% 以現金和股票的形式遞延。

We expect Sqreen to close in Q2, subject to customary closing conditions including regulatory approvals.

我們預計 Sqreen 將在第二季關閉，但須滿足包括監管部門批准在內的慣例成交條件。

Sqreen is not included in our guidance, but we expect it to have an immaterial impact to both our revenue and operating income guidance in 2021 upon deal closure.

Sqreen 並未包含在我們的指引中，但我們預期交易完成後它會對我們 2021 年的收入和營業收入指引產生無關緊要的影響。

Now below operating income.

現在低於營業收入。

We expect approximately $1.2 million of quarterly non-GAAP other income, which is net, including the interest income on our cash and marketable securities less the interest expense of our convertible.

我們預計季度非 GAAP 其他收入約為 120 萬美元，這是淨額，包括我們的現金和有價證券的利息收入減去我們可轉換債券的利息費用。

Next, we don't expect to be a federal taxpayer next year but have a tax provision related to our international entity and expect that tax provision to be approximately $600,000 in Q1 and $3 million for the full year.

接下來，我們預計明年不會成為聯邦納稅人，但有與我們的國際實體相關的稅收撥備，預計第一季的稅收撥備約為 60 萬美元，全年為 300 萬美元。

Lastly, we have early adopted ASC 2020-06 as of January 1, which changes the accounting for our convertible debt.

最後，我們從 1 月 1 日起提前採用了 ASC 2020-06，這改變了我們可轉換債務的會計處理。

Therefore, going forward, our convertible notes will be accounted for wholly as debt on our balance sheet.

因此，展望未來，我們的可轉換票據將在我們的資產負債表上全部計算為債務。

GAAP and other expenses should now be more aligned to non-GAAP as there is no longer a noncash component related to the debt discount.

公認會計原則和其他費用現在應該與非公認會計原則更加一致，因為不再有與債務折扣相關的非現金部分。

More importantly, our share count forecast now considers an additional 8.1 million shares as the new standard requires all underlying shares of the convert to be included, and this has been taken into account in our EPS guidance.

更重要的是，我們的股數預測現在考慮了額外的 810 萬股，因為新標準要求包括轉換的所有基礎股票，而我們的 EPS 指導中已考慮到這一點。

To summarize, we are pleased with our results for the quarter.

總而言之，我們對本季的業績感到滿意。

Execution was very strong, including strong sales results and continued product innovation.

執行力非常強大，包括強勁的銷售業績和持續的產品創新。

Customers continue to consume more Datadog both in terms of usage and the cross-selling to newer products.

客戶在使用和交叉銷售新產品方面繼續消費更多的 Datadog。

Our continued execution throughout the challenges of 2020 give us even greater confidence heading into 2021, and the importance of our solutions will only be heightened long term by the pandemic.

面對 2020 年的挑戰，我們的持續執行力讓我們對 2021 年充滿信心，從長遠來看，疫情只會進一步凸顯我們解決方案的重要性。

Therefore, we're continuing to reinvest in our business and are very excited for the year-end -- for the year ahead, sorry.

因此，我們將繼續對我們的業務進行再投資，並對年底感到非常興奮——對於未來的一年，抱歉。

Finally, we would like to thank A.J. who is having his last earnings call with us today at Datadog.

最後，我們要感謝 A.J.今天，他將在 Datadog 與我們進行最後一次財報電話會議。

I'm sure our investors have appreciated his contributions as much as we have.

我確信我們的投資者和我們一樣感謝他的貢獻。

And with that, we will now open our call for questions.

現在，我們將開始提問。

Operator, let's begin the Q&A.

接線員，我們開始問答。

(Operator Instructions) First question, we do have Sanjit Singh from Morgan Stanley.

（操作員說明）第一個問題，我們有來自摩根士丹利的 Sanjit Singh。

This is Mark Rende on for Sanjit.

我是 Sanjit 的 Mark Rende。

Congrats on the results and continued strong growth here.

祝賀我們所取得的成果並持續強勁成長。

First, I just want to quickly get an update on the headwinds you're seeing at the top line from the lower expansion you saw last summer.

首先，我只想快速了解去年夏天擴張放緩帶來的不利因素的最新情況。

It seems like those trends have largely turned around, and we should expect another quarter or 2 to kind of work through those impacts.

這些趨勢似乎已經基本扭轉，我們應該預期再過一、兩個季度就能克服這些影響。

I guess my question is, as we get into the back half of next year and the growth comps become easier, should we be expecting the combination of easier growth comps and ramping kind of products and partnerships with like Azure to result in an acceleration of growth?

我想我的問題是，隨著我們進入明年下半年，成長比較變得更容易，我們是否應該期望更容易的成長比較與不斷增加的產品以及與 Azure 等合作夥伴關係的結合會導致成長加速？

Is that an appropriate way for us to be thinking about it?

這是我們思考這個問題的適當方式嗎？

I think that we've given our guidance taking into account all of the potential upsides and risk.

我認為我們在給予指導時考慮了所有潛在的好處和風險。

But you are right.

但你是對的。

The headwinds created in Q2 do create a drag on the revenue growth as we talked about through Q2 of next year.

正如我們在明年第二季所討論的那樣，第二季產生的不利因素確實對營收成長造成了拖累。

And while we are not providing that quarterly guidance through next year, we expect of that headwind in terms of the comp to abate in the second half of the year.

雖然我們不會提供明年的季度指導，但我們預計，在下半年，競爭的不利因素將會減弱。

Got it.

知道了。

Helpful.

有幫助。

And then maybe just on the 2 acquisitions announced.

然後也許只是宣布的兩項收購。

So on the security side with Sqreen, you're building out quite a portfolio now across observability and security at Datadog.

因此，在 Sqreen 的安全性方面，您現在正在 Datadog 的可觀察性和安全性方面建立相當多的產品組合。

And I guess my question on Sqreen is kind of how does this integrate with the core Datadog platform.

我想我對 Sqreen 的問題是它如何與核心 Datadog 平台整合。

How does it work with core Datadog versus being a stand-alone functionality?

它如何與核心 Datadog 一起工作而不是作為一個獨立的功能？

And then on the Timber purchase, what's the need for an observability data pipeline in the platform?

然後在木材購買方面，平台中需要什麼可觀察性資料管道？

Can you help us kind of better understand what Timber's bringing to Datadog and the platform and why customers really need this functionality?

您能否幫助我們更了解 Timber 為 Datadog 和平台帶來了什麼以及為什麼客戶真正需要此功能？

Yes.

是的。

So I'll take the questions on M&A.

那我將回答有關併購的問題。

So the -- on the Sqreen side, what's really interesting is the focus is application security.

因此，在 Sqreen 方面，真正有趣的是重點是應用程式安全性。

And application security is one of the areas where the conflict, I would say, between applications, [in dev] basically, ops and security is the most present and the responsibilities are not really clear-cut in there.

我想說，應用程式安全性是應用程式之間發生衝突的領域之一，[在開發中]基本上，操作和安全性是最存在的，並且其中的責任並不真正明確。

And we think it's one area where we can show particular strength because our APM is already deployed.

我們認為這是我們可以展示特殊優勢的領域，因為我們的 APM 已經部署。

It's already in the heart of the application, and we can inject the security protection and detection in there directly.

它已經位於應用程式的核心，我們可以直接將安全保護和偵測注入其中。

So we think this is a product will make a lot of sense to our customers that are using APM, and that's going to be deployed the same way basically.

因此，我們認為這個產品對於使用 APM 的客戶來說非常有意義，並且基本上會以相同的方式部署。

So that's for Sqreen.

這就是 Sqreen 的情況。

For Timber and Vector, which is the product, what's really interesting there is we hear and we see from customers over and over again that they have a number of different data sources that produce logs in particular but also other kinds of observability data.

對於產品Timber 和Vector 來說，真正有趣的是我們一次又一次地從客戶那裡聽到和看到他們擁有許多不同的資料來源，這些資料來源特別是生成日誌，但也產生其他類型的可觀察性數據。

And many of those sources, our legacy systems, log management systems, for example, and one thing they want to be able to do is to aggregate all that data before it leaves their own network environment, make sure they have the right privacy controls on them, so they can filter PII, for example, and things like that and then decide to route this data to us, for example, like to a cloud service but also maybe to other places, maybe to an archive they want to keep in-house.

其中許多來源，例如我們的遺留系統、日誌管理系統，他們希望能夠做的一件事就是在所有數據離開自己的網路環境之前聚合所有數據，確保他們擁有正確的隱私控制例如，他們可以過濾PII 之類的東西，然後決定將這些數據路由給我們，例如雲端服務，但也可能路由到其他地方，也許路由到他們想要保留的存檔 -房子。

So what we think this will allow us to do is to satisfy that need from customers, make sure they are fully in control of the observability data and make it a lot easier for customers to, in the end, send us all the data that is relevant to them.

因此，我們認為這將使我們能夠滿足客戶的需求，確保他們完全控制可觀測性數據，並使客戶最終更容易向我們發送所有數據與他們相關。

Next question comes from the line of Chris Merwin from Goldman Sachs.

下一個問題來自高盛 (Goldman Sachs) 的 Chris Merwin。

Okay.

好的。

I wanted to ask about new land.

我想問一下新土地的事。

I think you called out that 75% of those lands are with 2 or more products.

我認為您指出 75% 的土地擁有 2 種或更多產品。

So beyond infrastructure, can you give us a sense of where you're seeing the strongest traction more recently with the rest of your suite?

那麼，除了基礎設施之外，您能否讓我們了解您最近在其他套件中看到的最強勁的吸引力在哪裡？

It's easy.

這很容易。

It's pretty much in the order of introduction of the products.

基本上就是依照產品介紹的順序。

So the most mature behind that are APM and logs that are, I would say, neck and neck in terms of which are the other ones that are getting attached first.

因此，最成熟的背後是 APM 和原木，我想說，它們是並駕齊驅的，而其他首先連接的則是它們。

And then you go one step down to Synthetics, and then you go one step down to NPM and RUM, and then you go down to Security.

然後你向下一級到合成，然後你向下一級到 NPM 和 RUM，然後你向下到安全。

And so that's the order, which, by the way, I think, is a question we might get later, but we're planning to invest a lot more because we see so much success with that platform approach.

這就是順序，順便說一句，我認為這是我們稍後可能會遇到的問題，但我們計劃投入更多，因為我們看到該平台方法取得了巨大成功。

We see all these products have a pretty interesting growth curve.

我們看到所有這些產品都有一個非常有趣的成長曲線。

And we think there's a lot more problem space for us to cover, which is why we are aggressively building a team and hiring, and we're also proceeding to do these acquisitions.

我們認為還有更多的問題空間需要我們解決，這就是為什麼我們正在積極建立團隊和招聘，我們也正在繼續進行這些收購。

Great.

偉大的。

And just a follow-up.

只是後續行動。

If we look at billings, I mean, on a pro forma basis, I think you said it was up 61% RPO, CRPO was up in the mid-60s, but then the revenue guide for '21 is in the high 30s.

如果我們看一下帳單，我的意思是，在預計的基礎上，我想你說 RPO 成長了 61%，CRPO 成長了 60 多歲，但 21 年的營收指南在 30 多歲。

So I realize billings aren't going to factor in usage.

所以我意識到帳單不會影響使用情況。

But can you help us think about how to reconcile the really strong billings growth we saw exiting '20 and with the revenue growth guide for '21?

但是您能否幫助我們思考如何協調我們在 20 世紀結束時看到的真正強勁的賬單增長與 21 世紀的收入增長指南？

Yes.

是的。

I think we had a strong new logo.

我認為我們有一個強大的新標誌。

We also had, as we mentioned, an extension of the duration of billings and contracts from our clients.

正如我們所提到的，我們也延長了客戶的帳單和合約期限。

So those were some of the factors that caused the strong performance.

這些都是導致強勁表現的一些因素。

We try to get everyone sort of back to the revenue growth and then the linearity within the quarter, which one can look at ARR because of the variabilities in billing and RPO due to billings, but we did have strong new sales as well as the extension of duration in the quarter, as we mentioned, which contributed to that performance.

我們試圖讓每個人都回到收入增長，然後是季度內的線性，人們可以查看 ARR，因為賬單和 RPO 由於賬單而存在變化，但我們確實有強勁的新銷售以及延期正如我們提到的，本季度的持續時間對這一業績做出了貢獻。

Next one on the line is Sterling Auty from JPMorgan.

下一位接電話的是來自摩根大通的斯特林·奧蒂(Sterling Auty)。

Wanted to revisit the security topic again.

想再回顧安全主題。

And traditionally, when we think about WAF adoption, that's usually been the security CISO organization kind of driving that adoption.

傳統上，當我們考慮 WAF 的採用時，通常是安全 CISO 組織正在推動這種採用。

RASP is a newer area.

RASP 是一個較新的領域。

And what I'm curious is do you need a dedicated security sales force to properly penetrate the opportunity.

我很好奇的是，您是否需要一支專門的安全銷售團隊來正確把握這個機會。

Or is there enough buying decision and influence coming out of the dev ops areas that your existing sales force can adequately push the security products that you have?

或者，開發營運領域是否有足夠的購買決策和影響力，您現有的銷售人員可以充分推銷您擁有的安全產品？

So the short answer to that is we don't know yet, and we -- first of all, the deal is not closed yet, right?

因此，簡短的回答是我們還不知道，而且我們——首先，交易還沒有完成，對吧？

So we're standing in -- speaking in a hypothetical with the company -- the companies are not merged yet.

所以我們假設──以公司為例──這些公司還沒有合併。

But the -- the way we're seeing it is by starting from an APM product, we really lowered the friction that is involved in deploying an application security product, which typically is the problem you have.

但是，我們看到的方式是，從 APM 產品開始，我們確實降低了部署應用程式安全產品所涉及的摩擦，這通常是您遇到的問題。

Like when you try to deploy a RASP product, there's a high friction to deploy and the person who wants to deploy it is not the person who actually has the authority to do it or actually manages the servers or manages the application.

就像當您嘗試部署 RASP 產品時，部署的摩擦很大，並且想要部署它的人並不是真正有權執行此操作或實際管理伺服器或管理應用程式的人。

And we solve that with Datadog.

我們用 Datadog 解決了這個問題。

So we think it opens up new avenues of frictionlessly deploying those products.

因此，我們認為它開闢了無摩擦部署這些產品的新途徑。

Now how it translates on the go-to-market side and if we need to have specialist sales, we don't know yet, and we're open to it.

現在它如何轉化為進入市場方面以及我們是否需要專業銷售，我們還不知道，但我們對此持開放態度。

All right.

好的。

Great.

偉大的。

And then one follow-up would be just in the 2-plus products, you mentioned kind of the land and the adoptions by the maturity curve.

然後一個後續行動將只是在 2+ 產品中，你提到了土地類型和成熟度曲線的採用。

But what I'm curious about is are you seeing the use cases, especially for log and APM driving into newer areas than what you saw, let's say, maybe 3 or 4 quarters ago.

但我很好奇的是，您是否看到了用例，尤其是日誌和 APM 進入比您所看到的更新的領域，比如說，也許 3 或 4 個季度前。

Are you getting expansion of those products, in particular, new areas of your customers?

您是否正在擴展這些產品，特別是您的客戶的新領域？

So those products are still expanding a lot, right?

那麼這些產品仍在大量擴張，對吧？

So the adoption curve for our customers is -- they usually start small and then they grow, and they expand the products to more and more and more of their business units and various activities.

因此，我們客戶的採用曲線是——他們通常從小規模開始，然後不斷發展，並將產品擴展到越來越多的業務部門和各種活動。

And so log and APM look different, but they keep growing with customers that way.

因此，日誌和 APM 看起來不同，但它們以這種方式與客戶一起不斷成長。

So even when we say 70% of the customers have adopted the product, there's still a lot of growth to be had within those customers.

因此，即使我們說 70% 的客戶已經採用了該產品，這些客戶仍然有很大的成長空間。

Next one on the queue is Brad Zelnick from Crédit Suisse.

隊列中的下一位是瑞士信貸銀行的布拉德·澤爾尼克(Brad Zelnick)。

Great.

偉大的。

And congrats on a strong end to a crazy year.

恭喜瘋狂的一年圓滿結束。

Oli, my question is on Timber.

奧利，我的問題是關於木材的。

Thanks.

謝謝。

Yes, for sure.

是肯定的。

My question on Timber, is the idea Vector to be an agnostic data pipeline and to be able to feed data to any observability platform.

我對 Timber 的問題是，Vector 是一個不可知的資料管道，並且能夠將資料提供給任何可觀測平台。

And in that case, how should we think about then rolling that into your offering, potentially create coopetition, if you will, amongst observability platforms?

在這種情況下，我們應該如何考慮將其納入您的產品中，如果您願意的話，可能會在可觀察性平台之間產生合作？

Or am I not thinking about it right to express it that way?

還是我覺得這樣表達不適合？

I mean you're right.

我的意思是你是對的。

I mean the -- it's important for -- like if you want customers to send all the data from all the sources, they have to be -- they have to have some flexibility to send it to various places, right?

我的意思是——這很重要——就像如果你希望客戶從所有來源發送所有數據，他們必須——他們必須有一定的靈活性來將其發送到不同的地方，對嗎？

So that's actually part of the mix there.

所以這實際上是其中的一部分。

We think it actually makes sense for us to do it.

我們認為我們這樣做其實是有意義的。

Obviously, the integrated experience with Datadog will be fantastic and so that it makes the most sense, and it is the most interesting from a value perspective to send everything to Datadog.

顯然，與 Datadog 的整合體驗將是非常棒的，因此它是最有意義的，從價值角度來看，將所有內容傳送到 Datadog 是最有趣的。

But it is important for these to be open and to cater to various use cases where customers have another destination they want to consume the data or another source they want to add or some flexibility to filter on the fly what they send.

但對於這些來說，開放並滿足各種用例非常重要，在這些用例中，客戶有他們想要使用資料的另一個目的地或他們想要添加的另一個來源，或具有一定的靈活性來動態過濾他們發送的內容。

In a way, you can see that as an extension of Logging without Limits that reaches back into the customer's infrastructure.

在某種程度上，您可以將其視為無限日誌記錄的擴展，可以追溯到客戶的基礎設施。

Got it.

知道了。

And maybe a follow-up for David.

也許是大衛的後續行動。

David, how should we think about the level of sales hiring this year and the ability to ramp reps on the entire portfolio, which has expanded quite significantly?

大衛，我們應該如何考慮今年的銷售招募水準以及在整個產品組合中增加銷售代表的能力（該產品組合已大幅擴展）？

Yes.

是的。

We've been successful last year as well as our plans for this year and ramping sales higher slightly ahead of revenue.

我們去年和今年的計畫都取得了成功，銷售額略高於收入。

So we've been -- as we talked about it in the 60s, we have plans to do it again.

正如我們在 60 年代談論的那樣，我們計劃再次這樣做。

And as we've talked about, it involves both expanding into new geographies.

正如我們所討論的，它涉及擴展到新的地區。

It involves building out the teams within geographies where we've been already successful.

它涉及在我們已經取得成功的地區建立團隊。

And it's what we did last year and believe we can do it again the next year.

這就是我們去年所做的，並且相信明年我們可以再次做到這一點。

Next one on the line is Mohit Gogia from Barclays.

下一位是巴克萊銀行 (Barclays) 的莫希特·戈吉亞 (Mohit Gogia)。

I offer my congrats on a very strong quarter as well.

我也對一個非常強勁的季度表示祝賀。

So my first question is around the Mendix deal that you guys announced last week.

我的第一個問題是關於你們上週宣布的 Mendix 交易。

So wondering if you can give us some more color there.

所以想知道你是否可以給我們更多的顏色。

It sounds like this is Mendix standardizing on Datadog as its observability platform.

聽起來這是 Mendix 以 Datadog 作為其可觀察性平台的標準化。

I think the release also mentioned that you guys replaced the existing incumbents, which were like 5 or 6 tools that the customer was using.

我認為該版本還提到你們取代了現有的現有工具，這些工具就像客戶正在使用的 5 或 6 個工具。

So if you can go into some sort of like dynamics of your land there or maybe you were already there and expanded from there, but any more color on that customer will be very helpful.

因此，如果您可以了解您那裡的土地的某種動態，或者也許您已經在那裡並從那裡擴展，但是對該客戶的任何更多顏色都會非常有幫助。

Yes.

是的。

I actually don't have much more color I can provide because I'm not sure what I can speak to publicly.

實際上我沒有更多的顏色可以提供，因為我不確定我可以公開談論什麼。

We didn't prepare anything for that.

我們沒有為此做任何準備。

But interestingly enough, this was not one of the customers we mentioned in the rest of the call in the prepared notes.

但有趣的是，這不是我們在準備好的筆記中在電話的其餘部分中提到的客戶之一。

But I think as Oli has mentioned, it happens to be a press release, but it's typical of what has been happening with the expansion of the products across the platform, where most of the motion is landing smaller and then expanding given the value of the platform to across the product set.

但我認為，正如奧利所提到的，這恰好是一份新聞稿，但這是跨平台產品擴張所發生的典型情況，其中大部分動議都是先縮小規模，然後考慮到產品的價值而擴大。跨產品集的平台。

So it's a typical type of motion.

所以這是典型的運動類型。

Understood.

明白了。

My follow-up question is for David.

我的後續問題是問大衛的。

So David, in terms of -- so I think you followed up the record new ARR in Q3, then a strong quarter in Q4, right?

大衛，我認為您在第三季度創下了新的 ARR 記錄，然後在第四季度實現了強勁的季度，對嗎？

So if I -- I mean, obviously, we understand the puts and takes to billings and RPO.

因此，如果我 - 我的意思是，顯然，我們了解比林斯和 RPO 的看跌期權和索取金額。

But if I just look at ARR, it seems to be things coming together very nicely after sort of like a slight -- or rather a dip in Q2.

但如果我只看 ARR，在第二季略有下降——或者更確切地說是下降之後，一切似乎都很好地結合在一起。

So like how should we think about the guidance?

那我們該如何考慮指導呢？

I know this question was already asked.

我知道這個問題已經被問過。

But if I sort of compare that to next fiscal year guidance versus really 2 strong quarters of ARR, and can you help us reconcile that?

但是，如果我將其與下一個財年指導與實際 2 個強勁季度的 ARR 進行比較，您能幫助我們協調一致嗎？

Yes.

是的。

As we said last time, and it's a typical approach.

正如我們上次所說，這是一種典型的方法。

There's lots of positives, and we're very proud of it.

有很多正面的方面，我們對此感到非常自豪。

But we continue to take a conservative approach towards guidance given the uncertainty in the world from COVID and what might happen to enterprises.

但考慮到新冠疫情為世界帶來的不確定性以及企業可能發生的情況，我們繼續對指導採取保守態度。

As we said, we see a less -- we've seen a less volatile world in terms of both the growth of client usage and new logos but continue to remain prudent and conservative when we provide guidance as we have in our quarters as a public company.

正如我們所說，我們看到了一個不太波動的世界，無論是在客戶使用量的增長還是新標誌方面，我們都看到了一個不太波動的世界，但當我們提供指導時，我們將繼續保持謹慎和保守，就像我們作為公眾在季度中所做的那樣公司。

Yes.

是的。

One thing I will say is, when we look at our metrics internally, usage metrics, in particular, those are still noisier than they were before the pandemic, and that's because they basically track the way the various economical impacts of the pandemic ripple through the world and the various layers of the economy.

我要說的一件事是，當我們在內部審視我們的指標時，特別是使用指標，這些指標仍然比大流行之前更加嘈雜，這是因為它們基本上跟踪了大流行的各種經濟影響在整個社會中的波及方式。世界和經濟的各個層面。

And so we want to be a little bit cautious there.

因此我們要對此保持謹慎。

People's behaviors have changed to, obviously, this year, like it's fairly different from what it was the year before.

顯然，今年人們的行為發生了變化，就像與前一年大不相同一樣。

An example of that is, typically, at the last year or the last week of the year, there's a drop in activity because pretty much everyone takes the week off and some companies turn off their development environments and things like that.

一個例子是，通常在去年或一年的最後一周，活動會有所下降，因為幾乎每個人都休假一周，並且一些公司關閉了他們的開發環境和類似的東西。

This year, it was more pronounced, I think, because many people haven't taken any time off during the year and everybody took their time off at that time.

我認為今年的情況更加明顯，因為這一年中很多人都沒有休息過，而且每個人都在那個時候休息了。

So we want to be a little bit careful about what we predict in the future.

因此，我們希望對未來的預測更加謹慎。

We've learned in Q2 that the numbers can change fast as changes to the economy happen.

我們在第二季了解到，隨著經濟變化，數字可能會快速變化。

Next question comes from Matt Hedberg from RBC Capital Markets.

下一個問題來自加拿大皇家銀行資本市場的馬特‧赫德伯格。

Yes.

是的。

Great.

偉大的。

This is actually Matt Swanson on for Matt.

這其實是馬特·斯旺森為馬特代言的。

Olivier, the strength in multiproduct adoption has trended well throughout the year.

Olivier 表示，全年多產品採用趨勢良好。

I know we talk a lot of times about your opportunity being greenfield rather than displacements.

我知道我們多次談論你的機會是綠地而不是流離失所。

But when we start to talk about more and more customers adopting more and more solutions, is this leading you into more of a displacement cycle?

但是，當我們開始談論越來越多的客戶採用越來越多的解決方案時，這是否會導致您陷入更多的替代週期？

And how is that kind of affecting your go-to-market strategy and the sales cycles for those upsells?

這對您的上市策略和追加銷售的銷售週期有何影響？

Yes.

是的。

We're still, I would say, just as dominated by greenfield as we were before, and I think it's going to be the case for the foreseeable future, which is why a lot of the -- what we're doing today is investing in building more products and growing the sales force so we can capture as much of this greenfield market as possible.

我想說，我們仍然像以前一樣以綠地為主，我認為在可預見的未來也會如此，這就是為什麼我們今天所做的很多事情都是投資開發更多產品並擴大銷售隊伍，以便我們能夠盡可能佔領這個新興市場。

Yes, that's helpful.

是的，這很有幫助。

And then I know security is a newer opportunity.

然後我知道安全是一個新的機會。

But could you touch on any changes you've seen following SUNBURST, maybe even outside of security?

但您能否談談 SUNBURST 之後您看到的任何變化，甚至可能是安全之外的變化？

It feels like there might be some elevated concerns for enterprises around observability and just kind of a renewed focus on knowing what's happening in their environment.

感覺企業可能會更加關注可觀察性，並且會重新關注了解其環境中發生的情況。

Yes.

是的。

Well, it's both a challenge and an opportunity, right?

嗯，這既是挑戰也是機遇，對吧？

I think the whole world has asked themselves what was happening with their software supply chain, where they were running, which is good.

我認為全世界都在問自己，他們的軟體供應鏈發生了什麼，他們在哪裡運行，這很好。

I think it opens some opportunity.

我認為這帶來了一些機會。

There's some, I would say, minor short-term opportunity because we do see some customers that want to replace their network monitoring.

我想說，有一些小的短期機會，因為我們確實看到一些客戶想要更換他們的網路監控。

And our Network Device Monitoring product is fairly new, but we see some interest in that for that reason.

我們的網路設備監控產品相當新，但因此我們看到了一些人對此感興趣。

I think longer term, there's definitely a growing problem that is understanding what's running, understanding your supply chain, understanding what your application's doing, and that's why we're investing in security.

我認為從長遠來看，肯定存在一個日益嚴重的問題，即了解正在運行的內容、了解您的供應鏈、了解您的應用程式在做什麼，這就是我們投資於安全性的原因。

I think there's going to be a long-term opportunity there.

我認為那裡將會有一個長期的機會。

So maybe short term, some replacement there, but the real opportunities go longer term and would -- who we can help.

因此，也許短期內會有一些替代品，但真正的機會是長期的，我們可以幫助誰。

Enterprises basically understand what's going on in their network and in their applications.

企業基本上了解其網路和應用程式中發生的情況。

Next question comes from Jack Andrews from Needham & Company.

下一個問題來自 Needham & Company 的 Jack Andrews。

This is Khanh in for Jack.

這是傑克的汗。

Can you provide some color on how your relationship with Microsoft -- with Azure is progressing and expected ramp time in 2021?

您能否提供一些資訊來說明您與 Microsoft 以及 Azure 的關係進展以及 2021 年的預計提升時間？

How should we be thinking about new logo size contribution from the partnership compared to your organic [go to] motion given Microsoft's leverage, enterprise leverage?

考慮到微軟的影響力、企業影響力，與您的有機[轉到]動議相比，我們應該如何考慮合作夥伴關係對新標誌尺寸的貢獻？

It's -- so it's still not live yet.

它是——所以它還沒有上線。

It's in previews.

它在預覽中。

So we have some customers that have limited access to it.

因此，我們有一些客戶的訪問權限有限。

And we're expecting this to be live in the first half of the year, but we don't fully control it.

我們預計這將在今年上半年上線，但我們無法完全控制它。

So there's still (inaudible) that needs to happen for that.

因此，仍然需要（聽不清楚）做到這一點。

We -- look, it's hard to tell what the impact is going to be.

我們——看，很難說會產生什麼影響。

Hopefully, we do expect that it's going to have a positive impact, but I don't want to sell it before it happens.

希望我們確實期望它會產生積極的影響，但我不想在它發生之前出售它。

What I will say though is that we already got great feedback from existing customers and prospects that were already in our pipeline that this integration and the partnership with Microsoft is helping them move with confidence in Datadog -- with Datadog and expand with us.

但我要說的是，我們已經從現有客戶和潛在客戶那裡得到了很好的反饋，這些客戶和潛在客戶已經在我們的管道中，這種整合以及與Microsoft 的合作夥伴關係正在幫助他們對Datadog 充滿信心，與Datadog 一起發展並與我們一起擴展。

So we've seen a few large customers already react very positively to that.

所以我們看到一些大客戶已經對此做出了非常積極的反應。

So we are -- I would say, we're already pretty satisfied with the impact.

所以我們——我想說，我們已經對它的影響非常滿意了。

That's helpful.

這很有幫助。

And can you talk about some of the gains you're seeing from customers who adopt solutions from your Marketplace in terms of sales cycles and ease of use?

您能否談談採用您的 Marketplace 解決方案的客戶在銷售週期和易用性方面獲得的一些收益？

Or are you seeing any changes in like cohort behavior given that these customers can derive value from your platform more quickly?

或者，鑑於這些客戶可以更快地從您的平台中獲取價值，您是否看到類似群體的行為發生任何變化？

Yes.

是的。

So we -- look, the Marketplace is kind of new, right?

所以我們——看，市場是一種新的，對吧？

So there's still quite a bit that needs to happen in terms of the offering there and the breadth of the offering, I would say.

因此，我想說，在產品和產品的廣度方面仍然需要做很多工作。

But we do have some customers (inaudible).

但我們確實有一些客戶（聽不清楚）。

Oli, I think you're on mute.

奧利，我認為你處於靜音狀態。

Not clear anymore.

已經不清楚了。

Am I mute?

我是啞巴嗎？

Sorry.

對不起。

Yes, you're mute and not clear.

是的，你沉默寡言，不清楚。

You're back.

你回來了。

All right.

好的。

Let me try again.

讓我再嘗試一次。

I was saying that the platform is still fairly new at the Marketplace.

我是說該平台在市場上仍然相當新。

But we do see some customers that are already adopting applications through the Marketplace and completing their Datadog platform with software that we haven't written in-house, which is very, very interesting.

但我們確實看到一些客戶已經透過 Marketplace 採用應用程序，並使用我們尚未內部編寫的軟體來完善他們的 Datadog 平台，這非常非常有趣。

And some of these Marketplace deals are actually fairly meaningful.

其中一些市場交易實際上相當有意義。

So this is -- I would say this is an encouraging sign.

所以我想說這是一個令人鼓舞的跡象。

Again, there's still a lot of work to be done, a lot of building, a lot of partners to recruit on the platform, so still fairly early, but we have some very good validating signs very early on.

再說一次，還有很多工作要做，還有很多建設工作，需要在平台上招募很多合作夥伴，所以還很早，但我們很早就有一些非常好的驗證跡象。

On the queue is George Iwanyc from Oppenheimer.

隊列中的是來自奧本海默的喬治·伊凡尼克。

So Olivier, kind of following up on the strong multi-product adoption.

奧利維爾（Olivier）是對多產品的大力採用的後續行動。

Are you seeing any consolidation of the number of tools at your customers?

您是否發現客戶的工具數量有整合？

And kind of just a broad look at the overall competitive landscape.

這只是對整體競爭格局的廣泛檢視。

Yes.

是的。

So we -- clearly, we mentioned the 2 examples of customers that are consolidating on us, right, because they don't want to have their teams jump between tools.

所以我們——顯然，我們提到了兩個正在整合我們的客戶的例子，對吧，因為他們不想讓他們的團隊在工具之間切換。

They don't want to have separate tools between the teams.

他們不想在團隊之間使用單獨的工具。

So we definitely see that.

所以我們肯定看到了這一點。

In terms of the competitive landscape, it's a bit boring in that we haven't seen any noticeable change in the past year, I would say, so pretty much the same situation as it was before, where the bulk of the opportunity is greenfield.

就競爭格局而言，有點無聊，因為我們在過去的一年裡沒有看到任何明顯的變化，所以我想說，所以情況與以前幾乎相同，大部分機會都是未開發的。

A lot of our competition is open source do it yourself.

我們很多的競爭都是開源的，自己動手。

And then occasionally, we're going to have some large lands from customers that already had something before and switch to us, but that's not the dominant motion.

有時，我們會從之前已經擁有某些東西的客戶那裡獲得一些大片土地，然後轉向我們，但這不是主要動議。

All right.

好的。

And then, David, when you talked about the duration extending a bit, when you're looking at your guidance, do you expect that to either flatten out or start to contract maybe later in the year?

然後，大衛，當您談到延長期限時，當您查看指導時，您是否預計該期限會在今年晚些時候趨於平緩或開始收縮？

We think that can be episodic with -- as we talked about with the particular quarter and the contracts that come up, there hasn't been any change in strategy.

我們認為這可能是偶然的——正如我們談到的特定季度和即將簽訂的合約一樣，策略沒有任何變化。

Our strategy is to get annual commits and to offer mainly upfront billing with on-demand.

我們的策略是獲得年度承諾並主要提供按需預付費服務。

That's still the dominant way to go to market.

這仍然是進入市場的主要方式。

So what happens in the variability is some clients want a multiyear arrangement or they want a certain billing, but we really haven't changed our assumptions sort of where we are longer term in terms of duration.

因此，變化中發生的情況是，有些客戶想要多年的安排，或者他們想要一定的帳單，但我們確實沒有改變我們的假設，即我們在持續時間方面是長期的。

Next one on the line is Bhavan Suri from William Blair.

下一位是威廉布萊爾 (William Blair) 的巴萬蘇瑞 (Bhavan Suri)。

And I'll echo my congrats.

我也會表達我的祝賀。

It was a solid quarter.

這是一個堅實的季度。

I guess I just want to touch a couple of quick things here on Synthetics.

我想我只是想簡單談談合成材料方面的一些事情。

You started charging for Synthetics.

您開始對合成產品收費。

I think it was, correct me if I'm wrong, Q3 '19.

我認為是，如果我錯了，請糾正我，19 年第 3 季。

You've talked about seeing solid traction.

你談到了看到堅實的牽引力。

Just love to understand what the growth has been in that business specifically.

只是想了解該業務的具體成長。

Attach rates, maybe how it's trending relative to your expectations because you did bring up a little bit in the call, but we didn't get much color.

附上費率，也許它相對於您的期望的趨勢如何，因為您確實在電話中提到了一點，但我們沒有得到太多資訊。

I'd love to hear how that's doing.

我很想聽聽情況如何。

Yes, it's going very well.

是的，進展順利。

And I think we talked about the size and growth of the products is really aligned to when they were initiated.

我認為我們談論的產品的規模和成長與它們啟動時確實一致。

And we said last quarter, we're having tremendous success that Synthetics was multiple tens of millions of dollar type customer early in its growth, had very strong adoption, and it's been, as we talked about, sort of the #4 product in terms of the size after infrastructure, logs and APM together.

我們上個季度說過，我們取得了巨大的成功，Synthetics 在其成長早期是數千萬美元類型的客戶，擁有非常強大的採用率，正如我們所討論的，它一直是排名第四的產品是基礎架構、日誌和APM 合計後的大小。

So it's -- we've continued to see very strong reception as part of the overall platform.

因此，作為整個平台的一部分，我們繼續看到非常強烈的反響。

Yes.

是的。

And look, we're very -- as we said -- as I said, I think, earlier, network monitoring and RUM, which were introduced after Synthetics, both have adoption with very similar growth curve and a very good growth curve.

看，我們非常 - 正如我們所說 - 正如我所說，我認為，早些時候，網路監控和 RUM 在 Synthetics 之後推出，兩者都具有非常相似的成長曲線和非常好的成長曲線。

So we're optimistic about all those products.

所以我們對所有這些產品都持樂觀態度。

Look, the curves might differ a little bit between the products because they have different levels of friction.

看，不同產品之間的曲線可能會略有不同，因為它們的摩擦程度不同。

They have different levels of [ease of] applicability and road maps that have a different depth, I would say.

我想說，它們具有不同程度的[易用性]適用性和具有不同深度的路線圖。

But overall, we -- so far, we don't have any doubts in our platform, so we feel good about that.

但總的來說，到目前為止，我們對我們的平台沒有任何疑問，所以我們對此感覺很好。

Good.

好的。

Good to know.

很高興知道。

Absolutely.

絕對地。

And then one other one from me, as you disclose this metric, and maybe I've got it wrong, but I don't think you've given the 1 million customer count in previous quarters.

然後是我的另一個，當你披露這個指標時，也許我弄錯了，但我認為你沒有給出前幾季的 100 萬客戶數量。

I'd love to understand how that trended through the year and if you saw a budget flush in December, which might have driven a jump in 7-figure deals?

我很想了解這一年的趨勢，以及您是否在 12 月看到預算充裕，這可能會推動 7 位數交易的激增？

Yes.

是的。

We said that we would be delivering that once a year and providing some color, so it's the end of the year.

我們說過我們將每年提供一次並提供一些顏色，所以現在是年底。

We -- as I think we told you, we saw steady growth of that in the year.

正如我想我們告訴過你的那樣，我們看到這一年的穩定成長。

I think it sort of mimicked the rest of the effect in the business where those -- that type of evolution either from land or expand was more difficult in Q2 and improved throughout the year commensurate with our new logo and our expansion.

我認為它有點模仿了業務中的其他影響，這種類型的演變無論是從土地還是擴張在第二季度都更加困難，並且隨著我們的新標誌和擴張而在全年得到改善。

For the next question, we do have Pat Walravens from JMP Securities.

對於下一個問題，我們有來自 JMP 證券的 Pat Walravens。

This is Joey Marincek on for Pat.

這是帕特的喬伊·馬林塞克。

I was going off that last question.

我正準備離開最後一個問題。

I want to dig in on those larger customers.

我想深入挖掘那些大客戶。

Just wondering, has your conversations changed at all with these larger customers, maybe just how you're approaching them?

只是想知道，您與這些大客戶的對話是否發生了變化，也許只是您與他們接觸的方式發生了變化？

The conversation hasn't really changed much.

談話並沒有真正改變太多。

I think it's all in continuity with what has happened in the past, which is that those customers are adopting more and more of our products, and they are deploying us more and more broadly.

我認為這與過去發生的事情是連續的，即這些客戶正在越來越多地採用我們的產品，並且他們正在越來越廣泛地部署我們。

And they themselves are getting deeper and deeper into the cloud.

而他們自己也越來越深入雲端。

So the boundary is between customers that are 1 million plus or 7 million.

因此，界線是 100 萬以上或 700 萬以上的客戶。

It is arbitrary, but we have a large number of customers right above it, large number of customers right below it.

這是任意的，但我們在它上面有大量客戶，在它下面也有大量客戶。

And we keep pushing customers up basically.

我們基本上一直在推高客戶。

So there's nothing new or different there.

所以那裡沒有什麼新的或不同的。

I think what this speaks to is customers continue to adopt more of our product and more of our platform, and they continue to move to the cloud.

我認為這說明客戶繼續採用更多我們的產品和平台，並且他們繼續遷移到雲端。

Next one on the line is Brad Reback from Stifel.

下一位是來自 Stifel 的 Brad Reback。

Oli, traditionally, you've talked about the frictionless adoption of the platform as being a key focus.

Oli，傳統上，您談到平台的無摩擦採用是一個關鍵焦點。

So as you continue to build out into new areas, how important is it to maintain that frictionless type of environment versus taking on some more difficult problems that may include deeper sales efforts upfront?

因此，當您繼續開拓新領域時，維持這種無摩擦的環境與解決一些更困難的問題（可能包括前期更深層的銷售工作）有多重要？

Well, we're okay with both, right?

好吧，我們兩個都可以，對吧？

But we can also -- like there's a lot we can still do to play to our strengths, and we're very far from covering the full spectrum of problems we can solve in a completely frictionless way.

但我們也可以——就像我們仍然可以做很多事情來發揮我們的優勢一樣，我們遠遠沒有涵蓋我們可以以完全無摩擦的方式解決的所有問題。

So in some areas, especially security, like it's possible that we will need different kinds of sales and I would say, a bit more friction of deployment.

因此，在某些領域，特別是安全領域，我們可能需要不同類型的銷售，我想說，部署方面會有更多的摩擦。

But we're not done with the addition of frictionless products.

但我們還沒有完成添加無摩擦產品的工作。

And the ones that we have today are still very far from being fully penetrated [and maybe we're at our] customers.

我們今天擁有的那些還遠遠沒有被完全滲透[也許我們正在我們的]客戶中。

So there's a -- there's still a very long runway for all of that.

所以，要實現這一切，還有很長的路要走。

Next one on the line will be Michael Turits from Keybanc.

下一位接通的人是來自 Keybanc 的 Michael Turits。

One of your competitors has made some very extensive changing -- changes to their pricing structure.

您的競爭對手之一做出了一些非常廣泛的改變——改變他們的定價結構。

Are you seeing any impact from that or any pressure to make any kinds of changes structurally in the way you price?

您是否看到了由此產生的任何影響，或者是否有任何壓力要求您對定價方式進行結構性改變？

We haven't seen any developments there.

我們還沒有看到那裡有任何進展。

No, I think it's -- and look, it's still possible that customers want to change the way they consume [so we didn't see].

不，我認為——而且看，顧客仍然有可能想要改變他們的消費方式[所以我們沒有看到]。

But we haven't seen anything so far, so we're -- as I said, the competitive landscape is boring in a good way so far.

但到目前為止我們還沒有看到任何東西，所以正如我所說，到目前為止，競爭格局在一個很好的方面是無聊的。

And David, just a quick housekeeping.

大衛，只是快速的整理一下。

You talked about billings getting some boost from duration extension.

您談到帳單因工期延長而得到一些提升。

Can you quantify that for this quarter?

您能量化本季的情況嗎？

We're both in contracting billings that were both a couple of months, so both of them had been sort of in the 7 to 10, 12.

我們的合約帳單都是幾個月的，所以他們都在 7 到 10、12 之間。

And so they both extended a couple of months.

所以他們都延長了幾個月。

But again, we want to caution everybody that, that may be related to the bills that went out at the end of the year, et cetera, and we don't expect any real changes in the way we're sort of going to market and interacting with our customers.

但我們想再次提醒大家，這可能與年底發出的法案等有關，我們預計我們的上市方式不會發生任何真正的變化並與我們的客戶互動。

And what's that invoicing duration on average now?

現在發票的平均持續時間是多少？

What's been roughly?

大概經歷了什麼？

That range has been sort of in the 6 to 8 range and the contact duration has been a couple of months longer than that.

這個範圍大約在 6 到 8 次之間，並且接觸時間比這個長了幾個月。

And they both expanded, but again, we don't -- we're not drawing conclusion out based on 1 quarter.

他們都擴張了，但我們沒有——我們不會根據第一季得出結論。

I'd cautioned everybody.

我已經警告過大家了。

So it has been 6 to 8, and it was up a couple of months this quarter on invoicing duration.

所以已經是 6 到 8 個，本季的發票期限增加了幾個月。

Yes.

是的。

Next one on the queue is Gregg Moskowitz from Mizuho.

隊列中的下一位是來自瑞穗銀行的格雷格·莫斯科維茨(Gregg Moskowitz)。

So it's great that the usage trends were good again this quarter and that you're now approximately back to pre-COVID levels.

因此，很高興本季的使用趨勢再次良好，並且現在大約回到了新冠疫情之前的水平。

And what I was curious about is now that we're another quarter removed from the Q2, just to get your thoughts on the likelihood of a similar spike in cloud optimization reoccurring at some point.

我很好奇的是，現在我們距離第二季又過了四分之一，只是為了了解您對雲端優化在某個時刻再次出現類似高峰的可能性的看法。

In other words, do you think that we would probably need to see another exogenous shock or long tail type event for usage to move around materially in any given quarter?

換句話說，您是否認為我們可能需要看到另一次外生衝擊或長尾類型事件，以便在任何給定季度內使用量發生實質變化？

So I don't have [an in] on what's going to happen to the vaccines in the -- and the rest of the pandemic, so I'll defer on that.

因此，我不知道疫苗在這場大流行以及其他大流行中會發生什麼，所以我會推遲這一點。

In terms of the cycles of optimization, they happen from time to time from our customers.

就優化週期而言，我們的客戶時常會發生這種情況。

Now whether they all got on the same schedule now because they are optimized at the same time, I don't know.

現在，我不知道他們是否都按照相同的時間表進行，因為他們同時進行了優化。

I don't think all companies work the same way.

我不認為所有公司的運作方式都相同。

But again, we don't know.

但我們又不知道。

We want to be a little bit prudent with our numbers because, as I said, they're a little bit noisier than pre-pandemic, and we want to set the right expectation there.

我們希望對我們的數字保持謹慎，因為正如我所說，它們比疫情前的噪音要大一些，我們希望在那裡設定正確的預期。

Okay.

好的。

And then just, David, any changes to average deal sizes this quarter across either new or existing customers?

那麼，大衛，本季新客戶或現有客戶的平均交易規模有什麼變化嗎？

We did have more -- an increase of the new logos.

我們確實有更多——增加了新標誌。

Broadly speaking, we have some range of that.

從廣義上講，我們有一定的範圍。

So we talked about that was part of our new logo performance in Q4.

所以我們討論了這是我們第四季新標誌表現的一部分。

And over time, we have a steady increase of the average spend with our customers as they grow with us as part of the land and expand.

隨著時間的推移，隨著客戶與我們一起成長和擴張，我們與客戶的平均支出穩定成長。

Last question comes from the line of Yun Kim from Loop Capital Markets.

最後一個問題來自 Loop Capital Markets 的 Yun Kim。

So Oli, there was an earlier question on the impact of SolarWinds and SUNBURST.

Oli，之前有一個關於 SolarWinds 和 SUNBURST 影響的問題。

Are you seeing that event's driving closer collaboration between dev ops and security ops?

您是否認為該活動正在推動開發人員和安全人員之間更密切的合作？

And is that what's driving somewhat of a wait and....

這就是導致等待的原因嗎…

I'm sorry.

對不起。

I think you got cut off.

我想你被切斷了。

Should we take the next?

我們應該採取下一個嗎？

Yes.

是的。

Maybe, operator, we end the call here.

也許，接線生，我們就到這裡結束通話吧。

Oli, as you (inaudible)

奧利，就像你一樣（聽不清楚）

Sorry, we're ending the call.

抱歉，我們要結束通話了。

So yes.

所以是的。

So thank you, everyone.

謝謝大家。

Again, I'd like to restate the fact that we're very pleased with the performance in the fourth quarter and as well as the performance for the full year.

我想再次重申，我們對第四季的表現以及全年的表現非常滿意。

And as a closing word, I am very proud of our execution, and I want to thank our employees for their hard work and the high output is what -- in what has been a difficult year for most people.

最後，我對我們的執行力感到非常自豪，我要感謝我們的員工的辛勤工作和高產出，這對大多數人來說都是艱難的一年。

One thing that's important to remember is that we are more critical to our customers than ever before and as the move to cloud is proving to be truly essential.

需要記住的一件重要事情是，我們對客戶的要求比以往任何時候都更重要，而且事實證明，向雲端的遷移確實至關重要。

So I and everyone at Datadog are excited to continue to make their lives easier and to deliver value to them in 2021 and in the years to come.

因此，我和 Datadog 的每個人都很高興能夠繼續讓他們的生活變得更輕鬆，並在 2021 年和未來幾年為他們創造價值。

So thank you all.

謝謝大家。

Ladies and gentlemen, this concludes today's conference call.

女士們、先生們，今天的電話會議到此結束。

You may now disconnect.

您現在可以斷開連線。