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Northrop Grumman (NYSE: NOC), a major aerospace and defense technology company, reported sales growth from $35.7 billion in 2021 to $39.3 billion in 2023, achieving net income of $1.9 billion in the first half of 2024, which is a 14% year-over-year increase. The company’s free cash flow rose to $129 million in 2024, contrasting with a negative cash flow of $396 million in 2023. Northrop’s order backlog stands at $83.1 billion, up from $78.8 billion.
Cloudflare (NYSE: NET), specializing in cybersecurity, saw its revenue soar from $656.4 million in 2021 to $1.3 billion in 2023. It generated a free cash flow of $119.5 million in 2023, marking a turnaround from previous losses. For the first half of 2024, its revenue reached $779.6 million, with a free cash flow of $73.9 million, and the company estimates its total addressable market to grow from $176 billion to $222 billion by 2027.
Datadog (NASDAQ: DDOG), a cloud monitoring and security platform, doubled its revenue from $1 billion in 2021 to $2.1 billion in 2023, achieving a free cash flow of $597.5 million. In the first half of 2024, revenue climbed to $1.26 billion, while the company posted a net income of $86.5 million compared to a net loss of $28.1 million a year earlier. Datadog has identified a substantial growth opportunity in its market, with a current estimated market share of just 5%.
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