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Stock impact report

DigitalOcean: The Inference Cloud Thesis Has Still Not Priced In [Seeking Alpha]

DigitalOcean Holdings, Inc. (DOCN) 
Company Research Source: Seeking Alpha
Q4 2025 results validate the thesis: $901M revenue (+15% YoY), $259M net income (29% margin), and $120M AI ARR, 70% from inference and core cloud. Customer retention is exceptional, with 0% churn in million-dollar cohorts and rapid expansion in $500K and $100K tiers, supporting sustainable growth. Capacity expansion, funded by a 10.4M share equity raise, underpins management's 21% 2026 revenue growth guidance and 30% targeted growth in 2027. LagartoFilm/iStock via Getty Images Investment thesis update Since my previous analysis of DigitalOcean ( DOCN ) in October, with a thesis anchored on the Gradient AI Platform's ability to capture the digital native enterprise market, the stock is almost doubled. Such move over With 70% of AI ARR now from recurring inference and core cloud, DOCN's revenue is more stable and scalable, supporting a higher valuation multiple. The 10% dilution amplifies downside if revenue or margins disappoint, and any delay in the 31MW capacity expans Show less Read more
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