DigitalOcean Announces First Quarter 2024 Financial Results
DigitalOcean Holdings, Inc. (DOCN)
Company Research
Source: Business Wire
Revenue Growth Increases to 12% on Improving Core Cloud Performance and Robust AI Platform DemandStrong Profitability with Net Income Margin of 8% and Adjusted EBITDA Margin of 40% NEW YORK--(BUSINESS WIRE)--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
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DOCN
Earnings
- 5/10/24 - Beat
DOCN
Sec Filings
- 5/14/24 - Form 4
- 5/10/24 - Form 10-Q
- 5/10/24 - Form 8-K
- DOCN's page on the SEC website