Datadog, Inc. (DDOG) Cash Flow Statement
Where DDOG’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- $1.05B +20.6% vs 2024
- Capital expenditures
- $49.6M 1.4% of revenue
- Free cash flow
- $1.00B 29.2% margin
- Returned to shareholders
- —
- Change in cash
- −$845.7M cash at year-end $401.3M
Cash from operations
$1.05B
Capital expenditures
−$49.6M
Investments (net)
−$1.08B
Acquisitions & other
−$203.8M
Net borrowing (repayment)
−$635.7M
Other financing
+$63.3M
Currency & other
+$11.2M
Change in cash
−$845.7M
Drawn to scale: where the cash came from and how it was used. Hover for values.
DDOG operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
DDOG cash flow trends, 2017–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $13.8M2017 | $1.05B2025 | +71.8%/yr | |
| Capital expenditures | $7.8M2017 | $49.6M2025 | +26.0%/yr | |
| Free cash flow | $6.0M2017 | $1.00B2025 | +89.5%/yr | |
| Free cash flow margin | 6.0%2017 | 29.2%2025 | +23.2 pts | |
| Operating cash flow / net income | 13.592023 | 9.752025 | −3.84 | |
| Stock-based compensation | $3.1M2017 | $750.7M2025 | +98.9%/yr | |
| Dividends paid | $02017 | $4.0M2022 | — | |
| Share buybacks (net) | $02017 | $02024 | — | |
| Capex / revenue | 7.7%2017 | 1.4%2025 | −6.3 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DDOG cash flow by activity
OperatingInvestingFinancingChange in cash
DDOG net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
DDOG cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating activities | |||||||||
| Net income | $107.7M | $183.7M | $48.6M | −$50.2M | −$20.7M | −$24.5M | −$16.7M | −$10.8M | −$2.6M |
| Depreciation & amortization | $55.8M | $54.9M | $44.5M | $34.6M | $22.9M | $15.4M | $12.4M | $6.0M | $2.7M |
| Stock-based compensation | $750.7M | $570.3M | $482.3M | $363.2M | $163.7M | $74.4M | $19.0M | $5.2M | $3.1M |
| Change in working capital | $53.5M | $13.3M | $44.6M | $6.4M | $63.4M | −$12.5M | −$9.5M | $7.2M | $9.0M |
| Other non-cash items | $82.5M | $48.2M | $40.0M | $64.4M | $57.2M | $56.3M | $19.1M | $3.2M | $1.7M |
| Cash from operating activities | $1.05B | $870.6M | $660.0M | $418.4M | $286.5M | $109.1M | $24.2M | $10.8M | $13.8M |
| Investing activities | |||||||||
| Capital expenditures | −$49.6M | −$34.7M | −$27.6M | −$64.9M | −$36.0M | −$25.9M | −$23.4M | −$15.8M | −$7.8M |
| Investments (net) | −$1.08B | −$736.8M | −$646.4M | −$384.7M | −$273.7M | −$1.12B | −$202.2M | −$17.5M | −$12.8M |
| Acquisitions & other investing | −$203.8M | $34.7M | −$57.3M | $64.9M | $36.0M | −$2.4M | $23.4M | $15.8M | $7.8M |
| Cash from investing activities | −$1.33B | −$736.8M | −$731.4M | −$384.7M | −$273.7M | −$1.15B | −$202.2M | −$17.5M | −$12.8M |
| Financing activities | |||||||||
| Dividends paid | — | — | — | −$4.0M | — | −$640.6M | — | $0 | $0 |
| Share repurchases & issuance (net) | — | $43.7M | $37.4M | $26.0M | −$245,000 | −$421,000 | $714.2M | $7.8M | $462,000 |
| Net borrowing (repayment) | −$635.7M | $736.0M | $0 | −$3,000 | −$3,000 | $730.2M | $730.2M | $730.2M | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $706.3M | $0 | $0 |
| Other financing | $63.3M | $7.4M | $20.9M | $14.0M | $35.2M | $581.1M | −$1.44B | −$730.2M | $0 |
| Cash from financing activities | −$572.5M | $787.1M | $58.3M | $36.0M | $34.9M | $670.3M | $714.2M | $7.8M | $462,000 |
| Summary | |||||||||
| Net change in cash | −$845.7M | $916.6M | −$11.9M | $67.8M | $45.8M | −$372.5M | $536.2M | $1.2M | $1.5M |
| Cash at end of period | $401.3M | $1.25B | $330.3M | $342.3M | $274.5M | $228.7M | $601.2M | $65.0M | $63.8M |
| Free cash flow | $1.00B | $835.9M | $632.4M | $353.5M | $250.5M | $83.2M | $791,000 | −$5.0M | $6.0M |
| Free cash flow margin | 29.2% | 31.1% | 29.7% | 21.1% | 24.4% | 13.8% | 0.2% | −2.5% | 6.0% |
| Capex / revenue | 1.4% | 1.3% | 1.3% | 3.9% | 3.5% | 4.3% | 6.5% | 8.0% | 7.7% |
| Operating cash flow / net income | 9.75 | 4.74 | 13.59 | — | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | $44.6M | $52.6M | $46.6M | $33.9M | $2.6M | $24.6M | $45.6M | $51.7M | $43.8M | $42.6M | $54.0M | $22.6M |
| Depreciation & amortization | $19.5M | $17.9M | $16.6M | $32.3M | $12.8M | $11.3M | $15.7M | $2.0M | $12.4M | $24.7M | $12.0M | $11.6M |
| Stock-based compensation | $220.3M | $196.8M | $205.4M | $200.6M | $180.5M | $164.3M | $158.5M | $142.2M | $134.7M | $135.0M | $128.1M | $123.1M |
| Change in working capital | −$151.6M | $42.6M | $37.5M | −$19.8M | −$16.5M | $52.3M | $29.1M | $8.9M | −$38.2M | $13.6M | $19.4M | −$12.6M |
| Other non-cash items | $183.2M | $24.7M | $21.0M | $4.5M | $20.6M | $19.1M | $16.4M | $23.9M | $11.7M | −$3.7M | $6.6M | $8.0M |
| Cash from operating activities | $315.9M | $334.6M | $327.1M | $251.5M | $200.1M | $271.5M | $265.2M | $228.7M | $164.4M | $212.3M | $220.2M | $152.8M |
| Investing activities | ||||||||||||
| Capital expenditures | −$37.2M | −$11.4M | −$8.9M | −$16.8M | −$15.2M | −$8.7M | −$7.8M | −$19.2M | −$20.6M | −$25.5M | −$18.9M | −$14.6M |
| Investments (net) | −$211.1M | −$258.6M | −$461.1M | −$202.2M | −$191.1M | −$443.4M | −$109.4M | −$306.6M | −$59.7M | −$261.2M | −$174.0M | −$191.0M |
| Acquisitions & other investing | −$101.7M | −$44.8M | −$27.9M | $16.8M | $15.2M | $8.7M | $7.8M | $19.2M | $20.6M | $25.5M | $18.9M | $14.6M |
| Cash from investing activities | −$349.9M | −$314.8M | −$497.9M | −$202.2M | −$191.1M | −$443.4M | −$109.4M | −$306.6M | −$59.7M | −$261.2M | −$174.0M | −$191.0M |
| Financing activities | ||||||||||||
| Share repurchases & issuance (net) | — | — | $28.2M | — | $28.6M | — | $21.2M | $22.5M | — | — | $17.4M | — |
| Net borrowing (repayment) | $0 | $0 | $0 | $0 | −$635.7M | −$20,000 | $736.0M | −$24,000 | — | — | — | — |
| Shares issued | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other financing | $41.8M | $9.7M | $1.8M | $1.3M | $1.7M | $1.7M | $2.2M | −$21.2M | $24.2M | $2.2M | $3.5M | $9.9M |
| Cash from financing activities | $41.8M | $9.7M | $30.0M | $1.3M | −$605.5M | $1.7M | $759.4M | $1.2M | $24.2M | $2.2M | $20.9M | $9.9M |
| Summary | ||||||||||||
| Net change in cash | $8.6M | $25.1M | −$139.3M | $51.6M | −$590.8M | −$167.1M | $909.6M | −$73.5M | $128.7M | −$48.1M | $69.0M | −$30.0M |
| Cash at end of period | $435.0M | $426.4M | $401.3M | $540.6M | $489.0M | $1.08B | $1.25B | $337.4M | $411.0M | $282.2M | $330.3M | $261.3M |
| Free cash flow | $278.7M | $323.3M | $318.2M | $234.7M | $196.8M | $244.4M | $257.5M | $209.5M | $143.8M | $186.7M | $201.3M | $138.2M |
| Free cash flow margin | 24.9% | 32.1% | 33.4% | 26.5% | 23.8% | 32.1% | 34.9% | 30.4% | 22.3% | 30.6% | 34.1% | 25.2% |
| Capex / revenue | 3.3% | 1.1% | 0.9% | 1.9% | 1.8% | 1.1% | 1.1% | 2.8% | 3.2% | 4.2% | 3.2% | 2.7% |
| Operating cash flow / net income | 7.09 | 6.36 | 7.02 | 7.42 | 75.58 | 11.02 | 5.82 | 4.42 | 3.75 | 4.98 | 4.08 | 6.75 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
DDOG cash generation
In fiscal 2025 (ended December 31, 2025), Datadog generated $1.1 billion of cash from operations (up 20.6%) and spent $49.6 million on capital expenditures, leaving free cash flow of $1.0 billion, 29.2% of revenue. Cash and equivalents fell by $845.7 million over the year.
Related: DDOG income statement, DDOG balance sheet. See the DDOG stock overview for the latest quote and news.
DDOG cash flow FAQ
What is Datadog's free cash flow?
Datadog's free cash flow was $1.0 billion in fiscal 2025: $1.1 billion of operating cash flow minus $49.6 million of capital expenditures It was $835.9 million a year earlier..
How much cash does Datadog generate from operations?
Datadog generated $1.1 billion of cash from operating activities in fiscal 2025, 9.75 times its net income of $107.7 million.
How much does Datadog spend on capital expenditures?
Datadog spent $49.6 million on capital expenditures in fiscal 2025, 1.4% of revenue, compared with $34.7 million the year before.