Today in 3 minutes or less:

1. Recap of Datadog 27% Revenue Growth in Q1 2024 ($DDOG)

2. Snowflake Q1 FY2025 Financial Results: Strong Net Revenue Retention and Strategic AI Enhancements ($SNOW)

3. DoorDash ($DASH) Expands Partnership with Ulta Beauty for Nationwide On-Demand Delivery

4. ESG News of the Day: Apple Grantee Gravity Water Empowers Vietnamese Students with Clean Water Solutions ($AAPL)

5. Video of the day: The science behind keeping fake reviews off Amazon's store. ($AMZN)

1. Recap of Datadog 27% Revenue Growth in Q1 2024 ($DDOG)

Datadog (DDOG) announces strong Q1 2024 financial results, with significant growth and positive projections for Q2.

• Revenue Growth: Q1 2024 revenue reached $611 million, increasing 27% year-over-year.

• Profit Margins: GAAP operating income was $12 million (2% margin); non-GAAP operating income was $164 million (27% margin).

• Earnings Per Share: GAAP net income per diluted share was $0.12; non-GAAP net income per diluted share was $0.44.

• Cash Flow Strength: Operating cash flow was $212 million, with free cash flow at $187 million, and total cash reserves of $2.8 billion.

Summary of Company Guidance

• Q2 2024 Revenue: Expected between $620 million and $624 million, a slight increase from Q1's $611 million.

• Q2 2024 Non-GAAP Operating Income: Projected between $134 million and $138 million, down from Q1's $164 million.

• Q2 2024 Non-GAAP Net Income Per Share: Anticipated between $0.34 and $0.36, compared to Q1's $0.44.

Strong Customer Growth

As of March 31, 2024, Datadog had approximately 3,340 customers with an annual recurring revenue (ARR) of $100,000 or more, a 15% increase from around 2,910 customers as of March 31, 2023.

Source: Datadog, Inc.

2. Snowflake Q1 FY2025 Financial Results: Strong Net Revenue Retention and Strategic AI Enhancements ($SNOW)

• Net Revenue Retention and Obligations:

  • Net revenue retention rate of 128%.

  • Remaining performance obligations total $5.0 billion, a 46% year-over-year rise.

• Strategic Moves:

  • Acquisition of technology assets from TruEra to enhance AI capabilities.

  • Hiring key employees from TruEra to bolster AI observability and monitoring solutions.

Source: Snowflake Inc. 

3. DoorDash ($DASH) Expands Partnership with Ulta Beauty for Nationwide On-Demand Delivery

• Broad Reach: DoorDash and Ulta Beauty now offer delivery from over 1,350 stores in all 50 states.

• Extensive Selection: Consumers can shop over 25,000 products from 600+ brands via the DoorDash app.

• Special Promotion: Get $10 off any Ulta order of $50 or more through June 2, 2024, with code 10ULTA.

• Loyalty Integration: Ulta Beauty Rewards™ members can link accounts to earn points on DoorDash purchases.

Source: DoorDash

4. ESG News of the Day: Apple Grantee Gravity Water Empowers Vietnamese Students with Clean Water Solutions ($AAPL)

• Impact on Students: Over 38,000 students in Hòa Bình province benefit from clean water due to Gravity Water's systems.

• School Installations: Gravity Water has installed rainwater harvesting systems at 131 schools in northern Vietnam.

• Technology: Automated smart metering systems manage water sources, ensuring year-round access to clean water.

• Education and Stewardship: Schools teach students water conservation and hygiene, fostering responsible water usage.

Source: Apple Inc.

5. Video of the day: The science behind keeping fake reviews off Amazon's store. ($AMZN)

Short updates on your favorite stocks/markets

• T-Mobile to acquire most of U.S. Cellular in $4.4 billion deal. CNBC

• Malaysia targets over $100 billion in semiconductor industry investment. YF

• PayPal Is Planning an Ad Business Using Data on Its Millions of Shoppers. WSJ

• Toyota bets on new line of combustion engines in challenge to Tesla. FT

• OpenAI creates oversight team with Sam Altman on board, begins training new model. CNBC

• Proxy firm Glass Lewis recommends vote against Toyota chairman. YF

DISCLAIMER: The information provided in this newsletter is for educational purposes only and should not be construed as financial advice. It is not intended as a recommendation to buy, sell, or hold any securities or assets mentioned herein. Readers are advised to conduct their own research and consult with a qualified financial advisor before making any investment decisions. The content of this newsletter is based on sources believed to be reliable, but the accuracy and completeness of such information cannot be guaranteed. The author and publisher of this newsletter are not liable for any losses or damages incurred as a result of reliance on the information provided. Investing in financial markets involves risk, including the risk of loss of principal. Please invest responsibly and consider your risk tolerance before making any investment decisions.