Form 8-K · Current Report · Filed 2024-08-08
DigitalOcean Reports Strong Q2 2024 Financial Results
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%.
- Filer
- DigitalOcean Holdings Inc. DOCN · NYSE
- Filed
- Accession
- 0001582961-24-000120
- CIK
- 0001582961
- Signal
- Medium impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$27.70
Next session
+17.6%
Since filing
+324.2%
Latest close
$117.50
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from DOCN reporting the same item, with the next session's move:
Exhibits (1)
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.
Never miss another DOCN filing
Profitelligence watches EDGAR around the clock and alerts you within seconds.