Stock Analysis on Net
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Datadog Inc. (NASDAQ:DDOG)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

Datadog Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

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Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable 2.24 1.86 2.23 0.78 1.06
Accrued compensation and commissions 1.65 1.24 1.56 1.56 1.81
Other tax liability and sales tax 0.80 0.50 0.78 0.86 0.73
Other accrued expenses 0.71 0.46 0.90 3.28 2.14
Accrued expenses and other current liabilities 3.15% 2.20% 3.24% 5.70% 4.67%
Operating lease liabilities, current 0.59 0.55 0.56 0.74 0.85
Convertible senior notes, net, current 0.00 10.96 0.00 0.00 0.00
Deferred revenue, current 17.97 16.63 19.45 18.07 15.62
Current liabilities 23.95% 32.20% 25.48% 25.28% 22.21%
Operating lease liabilities, non-current 3.86 3.40 3.51 2.55 2.19
Convertible senior notes, net, non-current 14.80 16.93 18.86 24.59 30.89
Deferred revenue, non-current 1.03 0.39 0.54 0.43 0.58
Other liabilities 0.18 0.16 0.15 0.21 0.40
Non-current liabilities 19.87% 20.88% 23.06% 27.78% 34.06%
Total liabilities 43.82% 53.08% 48.54% 53.06% 56.27%
Class A common stock, $0.00001 par value per share 0.00 0.00 0.00 0.00 0.00
Class B common stock, $0.00001 par value per share 0.00 0.00 0.00 0.00 0.00
Additional paid-in capital 53.87 46.48 55.42 54.09 50.28
Accumulated other comprehensive income (loss) 0.23 -0.08 -0.06 -0.41 -0.16
Retained earnings (accumulated deficit) 2.07 0.52 -3.90 -6.73 -6.39
Stockholders’ equity 56.18% 46.92% 51.46% 46.94% 43.73%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The composition of liabilities and stockholders’ equity exhibited several notable shifts between 2021 and 2025. Overall, the proportion of total liabilities decreased while the proportion of stockholders’ equity increased over the period. A significant fluctuation in current liabilities was observed, alongside changes in the structure of both current and non-current liabilities.

Current Liabilities
Current liabilities as a percentage of the total initially increased from 22.21% in 2021 to a peak of 32.20% in 2024. This increase was largely driven by the emergence of convertible senior notes, net, current, which represented 10.96% of the total in 2024. However, in 2025, current liabilities decreased substantially to 23.95%, coinciding with the disappearance of the convertible senior notes, net, current item. Deferred revenue, current, consistently represented a significant portion of current liabilities, ranging from 15.62% to 19.45% throughout the period.
Non-Current Liabilities
Non-current liabilities demonstrated a consistent downward trend, declining from 34.06% in 2021 to 19.87% in 2025. This decline was primarily attributable to a reduction in convertible senior notes, net, non-current, which decreased from 30.89% to 14.80% over the same period. Operating lease liabilities, non-current, showed a moderate increase, rising from 2.19% to 3.86% during the analyzed timeframe.
Total Liabilities
Total liabilities decreased from 56.27% in 2021 to 43.82% in 2025. The peak in 2024 (53.08%) was influenced by the temporary increase in current liabilities due to the convertible senior notes. The reduction in both current and non-current liabilities contributed to the overall decline in total liabilities.
Stockholders’ Equity
Stockholders’ equity increased from 43.73% in 2021 to 56.18% in 2025. This growth was primarily driven by increases in additional paid-in capital and retained earnings. Retained earnings transitioned from a negative percentage (-6.39% in 2021) to a positive percentage (2.07% in 2025), indicating improved profitability and accumulation of earnings. Additional paid-in capital remained a substantial component, fluctuating between 50.28% and 55.42% before rising to 53.87% in 2025.
Specific Liability Accounts
Accounts payable exhibited volatility, increasing from 1.06% in 2021 to 2.23% in 2023 before stabilizing around 2.24% in 2025. Accrued compensation and commissions showed a slight decrease over the period, while other accrued expenses experienced a significant decrease from 3.28% in 2022 to 0.46% in 2024, followed by a modest recovery to 0.71% in 2025. Other tax liability and sales tax remained relatively stable, fluctuating between 0.73% and 0.86%.

In summary, the company experienced a shift in its capital structure, reducing its reliance on liabilities and increasing its equity base. The fluctuations in current liabilities were largely attributable to the issuance and subsequent disappearance of convertible senior notes, net, current. The consistent decline in non-current liabilities, coupled with the growth in retained earnings and additional paid-in capital, suggests a strengthening financial position.

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