Cloud and AI Service Provider DigitalOcean Stock Soars - Here's Why [Yahoo! Finance]
DigitalOcean Holdings, Inc. (DOCN)
Company Research
Source: Yahoo! Finance
Revenue grew 12% year over year to $184.73 million, beating the analyst consensus estimate of $182.58 million. Adjusted EPS of $0.43 surpassed the analyst consensus estimate of $0.38 Annual Run-Rate Revenue (ARR) ended the quarter at $749 million, up 12% year over year, and Average Revenue Per Customer (ARPU) increased 8% year over year to $95.13. Builders and Scalers (customers spending over $50 per month) grew 8% Y/Y, and their revenue rose 13% Y/Y in the quarter. Adjusted EBITDA rose 33% Y/Y to $74 million, with a margin of 40% vs. 34% a year ago. As of March 31, 2024, cash, cash equivalents, and marketable securities stood at $419 million. “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. Outlook : For the second quarter, DOCN expects adjusted EPS of $0.38 – $0.40 vs. $0.39 estimate and revenue of $188 million – $189 mill
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News
- Data Storage Stocks Q1 Teardown: DigitalOcean (NYSE:DOCN) Vs The Rest [Yahoo! Finance]Yahoo! Finance
- 2 Stocks to Buy Before They Take Off [Yahoo! Finance]Yahoo! Finance
- Estimating The Fair Value Of DigitalOcean Holdings, Inc. (NYSE:DOCN) [Yahoo! Finance]Yahoo! Finance
- DigitalOcean Invites Developers, Startups, and Founders to Attend its Next Deploy Virtual Conference [Yahoo! Finance]Yahoo! Finance
- DigitalOcean Invites Developers, Startups, and Founders to Attend its Next Deploy Virtual ConferenceBusiness Wire
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