Dynatrace Announces Third Quarter Financial Results
Feb 2, 2022 By MarketDepth
Dynatrace (NYSE: DT) has reported financial results for the third quarter of fiscal 2022 ended December 31st, 2021. The company reported an ARR of USD 930 Million, a 29% rise compared to the third quarter of the previous fiscal year. Dynatrace reported total revenue of USD 241 Million with subscription revenue of USD 226 Million. GAAP Operating Income amounted to USD 21 Million. There were 206 new logos added in the quarter, totalling 501 new logos added to the Dynatrace platform on a year-to-date basis, a 22% increase compared to the same period last year with over 44% of new customers landing with three or more modules. Interest in Dynatrace was created by Log4j vulnerability for application security as it highlighted the unique ability to instantly identify and prioritize security vulnerabilities in production that drives a 10x increase in POCs in the quarter ending December 31st, 2021.
“Having completed my first quarter as CEO, I am very pleased with our third quarter performance, beating the high end of guidance across our key operating metrics driven by new logo additions and continued net expansion rate above 120%. Our strong performance fuels our belief that customers increasingly view our software intelligence platform as an indispensable part of their digital transformation ecosystem. Looking ahead, we plan to further increase investments to capture the tremendous market opportunity ahead of us with the objective of accelerating growth as we scale to build a multibillion-dollar business.”Rick McConnell, Chief Executive Officer