---
schema_version: "secwatch.filing_event.v1"
accession: "0001582961-23-000020"
form_type: "8-K"
ticker: "DOCN"
cik: "0001582961"
company_name: "DigitalOcean Holdings, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T09:08:01.655365+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- Revenue $165.1M (+30% YoY), ARR $669.1M (+28%), gross margin 56%.
- GAAP net loss $34.9M ($0.37 loss per share); non-GAAP diluted EPS $0.28.
- Repurchased 7.8M shares for $266M in Q1; shareholders returned $266M total.
- Q2 guidance: revenue $169.5-170.5M, non-GAAP EPS $0.40-0.41; FY 2023 revenue $700-720M.
- Chief Accounting Officer Adrienne Calderone departs; CFO Matt Steinfort interim CAO.

## SEC filing metadata
- accession: 0001582961-23-000020
- form_type: 8-K
- ticker: DOCN
- cik: 0001582961
- company_name: DigitalOcean Holdings, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000020/0001582961-23-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000020/docn-20230503.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001582961-23-000020
- JSON: https://secwatch.observer/filing/0001582961-23-000020.json
- Plain text: https://secwatch.observer/filing/0001582961-23-000020.txt

## Key facts
- Earnings Releases
  DigitalOcean Holdings, Inc. reported first quarter ended March 31, 2023 results: revenue $165.1 million, net income Net loss attributable to common stockholders was $34.9 million, EPS Net loss per share was $(0.37).
  - Period: first quarter ended March 31, 2023
  - Revenue: $165.1 million
  - Net income: Net loss attributable to common stockholders was $34.9 million
  - EPS: Net loss per share was $(0.37)
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000020/0001582961-23-000020-index.htm
- Earnings Releases
  DigitalOcean Holdings, Inc. reported second quarter of 2023 results: revenue $169.5 to $170.5 million, EPS Non-GAAP diluted net income per share of $0.40 to $0.41. Guidance initiated.
  - Period: second quarter of 2023
  - Revenue: $169.5 to $170.5 million
  - EPS: Non-GAAP diluted net income per share of $0.40 to $0.41
  - Guidance: initiated
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000020/0001582961-23-000020-index.htm
- Executive change
  W. Matthew Steinfort was appointed as Chief Accounting Officer (interim) at DigitalOcean Holdings, Inc..
  - Action: appointed as interim Chief Accounting Officer
  - Role: Chief Accounting Officer (interim)
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000020/0001582961-23-000020-index.htm
- Executive change
  Adrienne Calderone resigned as Chief Accounting Officer at DigitalOcean Holdings, Inc..
  - Action: resigned
  - Role: Chief Accounting Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1582961/000158296123000020/0001582961-23-000020-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.