DigitalOcean Holdings Inc

DOCN

Equity

ISIN US25402D1028 / Valor 110302680

New York Stock Exchange, Inc (2024-11-21)

USD 38.87+3.57%

DigitalOcean Holdings Inc
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

DigitalOcean Holdings Inc. is a cloud infrastructure provider offering cloud computing services to business entities to help them deploy, manage, and scale applications.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

DigitalOcean Holdings Inc. reported a revenue of $185 million for the first quarter of 2024, marking a 12% increase year-over-year. This growth is attributed to the improving performance of their core cloud services and robust demand for their AI platform.

Profitability

In the first quarter of 2024, DigitalOcean Holdings Inc. achieved a net income of $14 million, resulting in a net income margin of 8%. Additionally, the company reported an adjusted EBITDA of $74 million, which represents a 33% increase year-over-year and an adjusted EBITDA margin of 40%.

Cash Flow

DigitalOcean Holdings Inc. generated $67 million in net cash from operating activities during the first quarter of 2024, compared to $36 million in the same period of the previous year. The adjusted free cash flow for the quarter was $34 million, up from $26 million in the first quarter of 2023.

Average Revenue Per Customer

The average revenue per customer (ARPU) for DigitalOcean Holdings Inc. in the first quarter of 2024 was $95.13, reflecting an 8% increase over the first quarter of 2023. This growth indicates a higher spending rate among their customer base.

Financial Outlook

For the second quarter of 2024, DigitalOcean Holdings Inc. expects total revenue to be between $188 million and $189 million, with an adjusted EBITDA margin of 37% to 38%. For the full year 2024, the company anticipates total revenue of $760 million to $775 million and an adjusted EBITDA margin of 36% to 38%.

Summarized from source with an LLMView Source

Key figures

36.8%1Y

-69.8%3Y

%5Y

Performance

51.9%1Y

70.8%3Y

69.5%5Y

Volatility