Datadog Q3 2025 财报：连续 12 季度 25% 增长，AI 原生客户贡献 12% 营收

In short : Datadog's Q3 2025 earnings demonstrate successful platform transition with 25% YoY growth consistency across 12 quarters, net dollar retention recovery to 120%, 84% multi-product adoption, 15 AI native customers >$1M ARR, & security suite accelerating to mid-50s% growth.

Datadog is becoming a platform company, & its Q3 2025 results underscore how successful this transition is. If nothing else, the consistency around 25% growth for the last 12 quarters exemplifies this point.

Net dollar retention underpins this growth, combined with accelerating new customer account acquisition. One of the biggest changes in the last five quarters is terrific cross-selling across an increasingly large product suite.

Platform Adoption Deepening

At the end of Q3, 84% of customers were using 2 or more products, up from 83% a year ago. 54% of customers were using 4 or more products, up from 49% a year ago. 31% of our customers were using 6 or more products, up from 26% a year ago & 16% of our customers were using 8 or products, up from 12% a year ago.

Datadog’s platform spans six product categories:

Digital Experience Monitoring: RUM/Real User Monitoring, Synthetics, Product Analytics
Security: Cloud SIEM, Cloud Security
Infrastructure Observability: APM, Log Management, Flex Logs
Incident Response: Incident Management, On-Call
AI Capabilities: Bits AI, LLM Observability
Cost Management: Cloud Cost Management

The steady increase in multi-product adoption demonstrates customers consolidating their observability stack onto Datadog, with the highest-tier customers (8+ products) growing 33% year-over-year as a percentage of the base.

New Customer Momentum

New logo annualized bookings more than doubled year-over-year & set a new record driven by an increase in average new logo land size, particularly in enterprise.

The portion of our year-over-year revenue growth that related to new customers was about 25% in Q3, up from 20% in Q2.

New customer acquisition is also accelerating. This is in concert with a move-up market into the enterprise.

AI Native Customer Expansion

We also experienced strong revenue growth for our AI native customers & a broadening contribution to growth among those customers. There, too, we saw an acceleration of growth in our AI cohort in Q3 when excluding our largest customer.

This group represented 12% of our revenue, up from 11% last quarter & about 6% in the year ago quarter.

The AI native cohort is both growing & maturing. Datadog now has 15 AI native customers spending more than $1 million annually, up from essentially zero a year ago, with over 100 spending more than $100,000.

Revenue Growth

Revenue was $886 million, an increase of 28% year-over-year & above the high end of our guidance range.

The combination of these three factors : a broader product suite that is effectively cross-sold, accelerating new customer momentum, & a very fast-growing AI business, has led to outperformance.

Security Suite Accelerating

Security ARR growth was in the mid-50s as a percentage year-over-year in Q3, up from the mid-40s we mentioned last quarter.

We’re starting to see success in including Cloud SIEM in larger deals, & we’ll get back to that in a bit in our customer examples. And we’re seeing positive trends beyond Cloud SIEM, including fast uptake of good security & an increasing number of wins in cloud security.

Security is becoming a meaningful growth driver for Datadog, accelerating from mid-40s to mid-50s percentage growth & expanding beyond Cloud SIEM into broader cloud security use cases.

Enterprise Deal Momentum

First, we landed a 7-figure annualized deal with a leading European telco, our largest ever land deal in Europe. […] They will adopt 11 Datadog products to start.

Next, we landed a 7-figure annualized deal with a Fortune 500 technology hardware company.

Both of these data points confirm a significant move-up market. A million-dollar land deal with 11 products confirms that Datadog is truly selling a suite.

Datadog’s AI Products

In addition to the existing suite, Datadog is pushing heavily into AI with a broader range of AI deployment products.

Bits AI SRE Agent (Available in preview, announced June 2025) is an autonomous AI agent that investigates alerts & coordinates incident response 24/7, saving customers significant time on mean-time-to-resolution.
LLM Experiments & Playgrounds (Generally available, launched 2025) helps teams rapidly iterate on LLM applications by testing prompt changes, model swaps, & application changes against production traces.
Custom LLM-as-a-Judge Evaluations (Generally available) lets customers write natural language evaluation prompts to assess LLM application quality & safety across traces & spans.
Datadog MCP Server (Available in preview, announced 2025) bridges Datadog with AI agents like Codex, Claude, Cursor, & GitHub Copilot, providing structured access to metrics, logs, traces, & incidents directly from AI coding environments.
TOTO, Datadog’s open-source time series forecasting model (launched 2025), was trained on 2 trillion data points & became one of Hugging Face’s top downloads across all categories.

If SaaS companies were dog breeds, many would be temperamental. But Datadog demonstrates continued consistency across a broad range of different businesses.

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