DigitalOcean Q1 revenue up 30% to $165M, non-GAAP EPS $0.28; CAO departs

First Quarter 2023 Financial Highlights: • Revenue was $165.1 million, an increase of 30% year-over-year. • Annual Run-Rate Revenue (ARR) ended the quarter at $669.1 million, representing 28% year-over-year growth. • Gross profit of $93.3 million or 56% of revenue. • Net loss attributable to common stockholders was $34.9 million. • Adjusted EBITDA was $56.2 million and adjusted EBITDA margin was 34%. • Net loss per share was $(0.37) and non-GAAP diluted net income per share was $0.28. • Cash, cash equivalents, and marketable securities was $613 million as of March 31, 2023.

Financial Outlook: Based on information available as of May 9, 2023, for the second quarter of 2023 we expect: • Total revenue of $169.5 to $170.5 million. • Adjusted EBITDA margin of 37% to 38%. • Non-GAAP diluted net income per share of $0.40 to $0.41. • Fully diluted weighted average shares outstanding of approximately 103 million shares.

W. Matthew Steinfort, the Company’s Chief Financial Officer, will serve as the Company’s interim Chief Accounting Officer until a replacement has been appointed.

On May 3, 2023, the Company and Adrienne Calderone, the Company’s Chief Accounting Officer, agreed that, following a brief transition period, Ms. Calderone will no longer be employed by the Company and will no longer hold any offices with the Company.