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Dynatrace Sees 9% Customer Growth
Dynatrace, a long-standing application performance management vendor that now sees itself as a software intelligence platform that provides observability, automation, AI, and cloud-native application security, announced its quarterly earnings and showed a 9% year-over-year growth in customers and a 29% increase in annual recurring revenue.
The company attributes this growth to its shift towards software intelligence and being a part of its customers "digital transformation ecosystem."
From the press release:
"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%,” said Rick McConnell, Chief Executive Officer. “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.”