secwatch.observer — SEC 8-K summary
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Issuer:     DigitalOcean Holdings, Inc. (DOCN)
CIK:        0001582961
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001582961-23-000035
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1582961/000158296123000035/0001582961-23-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1582961/000158296123000035/docn-20230811.htm
  HTML page:      https://secwatch.observer/filing/0001582961-23-000035

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