DT · CIK 1773383
What Dynatrace, Inc. told the SEC could break it.
Dynatrace's disclosures describe a software company with a European center of gravity and global reach. It concentrates its primary R&D in Linz, Austria, with about 70% of its employees outside the U.S., and earns 54% of its revenue abroad — exposing it to European economic and geopolitical conditions and to currency swings. That global distribution of its software also brings regulatory exposure: U.S. and foreign export-control and economic-sanctions laws, including the Commerce Department's Export Administration Regulations, plus broader tariff and trade-policy uncertainty. Its customer base is well diversified — no end-customer tops 10% of revenue — though one channel partner accounted for 10% of revenue and over 10% of receivables, a modest reseller-channel concentration.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- single channel partner = 10% of revenue (unnamed)low
Dynatrace has no end-customer above 10% of revenue, but one (unnamed) channel partner accounted for 10% of revenue in FY2026 and FY2025 and held >10% of accounts receivable — a modest reseller-channel concentration.
“There were no end-customers that represented more than 10% of revenue for the years ended March 31, 2026, 2025, and 2024. For the years ended March 31, 2026 and 2025, one channel partner accounted for 10% of revenue.”
SEC filing →As of 2026
Geographic concentration
- R&D and workforce concentrated in Austria/Europe; 54% revenue ex-USlow
Dynatrace concentrates its primary R&D in Linz, Austria (~28% of employees in Austria, ~70% of employees outside the US) and derives 54% of revenue from outside the US — exposing it to European economic/geopolitical conditions and FX swings.
“Revenue from customers located outside of the United States represented 54% of our total revenue for the fiscal year ended March 31, 2026. As of March 31, 2026, approximately 70% of our employees were located outside of the United States.”
SEC filing →As of 2026
Regulatory & policy
- US/foreign export controls (EAR/BIS), sanctions and trade controlslow
Dynatrace's global software/source-code distribution is subject to US and foreign import/export control and economic-sanctions law — including the Export Administration Regulations administered by Commerce's Bureau of Industry and Security — plus tariff and trade-policy uncertainty across the countries in which it operates.
“compliance with U.S. and foreign import and export control and economic sanctions laws and regulations, including the Export Administration Regulations administered by the U.S. Department of Commerce's Bureau of Industry and Security and the executive orders and laws implemented by the U.S.”
SEC filing →As of 2026
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