DigitalOcean Holdings Inc.
DigitalOcean Reports Strong Q2 2024 Financial Results
Summary
DigitalOcean Holdings, Inc. reported strong financial results for the second quarter of 2024, with revenue increasing by 13% year-over-year to $192 million. The company posted a net income of $19 million and adjusted EBITDA of $82 million, representing a 42% margin. DigitalOcean also updated its financial guidance for Q3 and the full year 2024, forecasting total revenue of $770 to $775 million and an adjusted EBITDA margin of 37% to 39%.
Profitelligence Alerts
Get alerts for DOCN
Be first to know when DigitalOcean Holdings Inc. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About DigitalOcean Holdings Inc.
DigitalOcean Holdings Inc. is a cloud infrastructure provider aimed at simplifying cloud computing for small-to-medium-sized businesses as well as individual developers. The company's primary function is to deliver scalable and cost-effective cloud services, including computing, data storage, and networking, through an intuitive platform designed for ease of use. Notably, DigitalOcean focuses on the developer experience by offering streamlined setup processes and comprehensive documentation to aid the deployment and management of cloud applications. The company impacts sectors ranging from software development to e-commerce by enabling rapid application development and growth without the complexity that typically accompanies such infrastructure solutions. A defining feature of DigitalOcean's offerings is its Droplets, which are virtual machines that can be spun up quickly to handle various server-side applications. In the competitive cloud infrastructure market, DigitalOcean stands out for its commitment to serving a niche of developers who value simplicity, transparency, and community focus, thereby playing a vital role in empowering digital innovation and entrepreneurship.
Official SEC Documents
Advertisement