DOCN 8-K: DigitalOcean Q1 revenue $185M (+12% YoY); net income margin 8%; EBITDA margin 40%

DigitalOcean Q1 revenue $185M (+12% YoY); net income margin 8%; EBITDA margin 40%

DigitalOcean Holdings, Inc.

2024-Q1 EPS reported $0.15 revenue$184,730,000

Revenue $185M, +12% YoY; ARR $749M (+12% YoY).

Net income $14M (8% margin); adjusted EBITDA $74M (40% margin).

GAAP diluted EPS $0.15; non-GAAP diluted EPS $0.43.

Q2 revenue guidance $188-189M; FY 2024 revenue $760-775M.

ARPU $95.13 (+8% YoY); NDR improved to 97% from 96% prior quarter.

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 first quarter ended March 31, 2024 results: revenue $185 million, net income $14 million, EPS $0.15. Guidance initiated.

Period: first quarter ended March 31, 2024
Revenue: $185 million
Net income: $14 million
EPS: $0.15
Guidance: initiated
Result: reported results

Exact text from the filing

DigitalOcean Holdings, Inc. (NYSE: DOCN), the developer cloud optimized for startups and growing technology businesses, today announced results for its first quarter ended March 31, 2024. “The first quarter was a strong start to the year as we position the company to be the leading cloud and AI platform for growing technology businesses,” said Paddy Srinivasan, CEO of DigitalOcean. “Our results demonstrate the solid performance of our core cloud and the exciting potential of our AI platform.” First Quarter 2024 Financial Highlights: • Revenue was $185 million, an increase of 12% year-over-year. • Annual Run-Rate Revenue (ARR) ended the quarter at $749 million, representing 12% year-over-year growth. • Gross profit of $112 million, an increase of 20% year-over-year, and 61% of revenue. • Net income attributable to common stockholders was $14 million and net income margin was 8%. • Adjusted EBITDA was $74 million, an increase of 33% year-over-year, and adjusted EBITDA margin was 40%. • D

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