DigitalOcean finalizes Q2 23 results; lowers FY non-GAAP EPS guidance to $1.40-1.44

DigitalOcean Holdings, Inc.

2023-Q2 EPS reported -$0.17 revenue$334,948,000

Q2 2023 GAAP net income $0.7M ($0.01 diluted EPS); non-GAAP net income $44.7M ($0.44 diluted EPS).
FY 2023 non-GAAP diluted EPS guidance cut from $1.70-1.73 to $1.40-1.44 due to lower revenue, higher tax, Paperspace costs, and higher share count.
Q3 2023 guidance: revenue $172.5-174M, adjusted EBITDA margin 38-39%, non-GAAP diluted EPS $0.34-0.36.
Changed non-GAAP tax methodology to a fixed 17% annual rate for 2023 to improve predictability.
Income tax expense for Q2 2023 was $3.3M; company expects to be a U.S. federal cash tax payer for full year 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

DigitalOcean Holdings, Inc. reported Q2 2023 results: net income $0.7 million, EPS $0.01. Guidance lowered.

Period: Q2 2023
Net income: $0.7 million
EPS: $0.01
Guidance: lowered
Result: reported results

Exact text from the filing

Net income attributable to common stockholders was $0.7 million and diluted net income per share attributable to common shareholders was $0.01.

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Source: SEC EDGAR

accession 0001582961-23-000035

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