DigitalOcean Holdings Inc. (DOCN) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.26	$0.45	+73.1%	—	$281.2M	—
Q1 26	$0.26	$0.44	+69.2%	—	$257.9M	—
Q4 25	$0.38	$0.44	+15.8%	—	$242.4M	—
Q3 25	$0.49	$0.54	+10.2%	—	$229.6M	—
Q2 25	$0.47	$0.59	+25.5%	—	$218.7M	—
Q1 25	$0.44	$0.56	+27.3%	—	$210.7M	—
Q4 24	$0.34	$0.49	+44.1%	—	$204.9M	—
Q3 24	$0.4	$0.52	+30.0%	—	$198.5M	—
Q2 24	$0.39	$0.48	+23.1%	—	$192.5M	—
Q1 24	$0.38	$0.43	+13.2%	—	$184.7M	—
Q4 23	$0.37	$0.44	+18.9%	—	$180.9M	—
Q3 23	$0.36	$0.44	+22.2%	—	$177.1M	—
Q2 23	$0.41	$0.44	+7.3%	—	$169.8M	—
Q1 23	$0.29	$0.28	-3.4%	—	$165.1M	—
Q4 22	$0.19	$0.28	+47.4%	—	$163M	—
Q3 22	$0.23	$0.38	+65.2%	—	$152.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$2.83	—	—	$901.4M	—
FY24	—	$0.92	—	—	$780.6M	—
FY23	—	$0.22	—	—	$692.9M	—
FY22	—	-$0.24	—	—	$576.3M	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$203.1M	$254.8M	$318.4M	$428.6M	$576.3M	$692.9M	$780.6M	$901.4M
YoY change	—	+25.4%	+24.9%	+34.6%	+34.5%	+20.2%	+12.7%	+15.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	203.1M	254.8M	318.4M	428.6M	576.3M	692.9M	780.6M	901.4M
Cost of revenue	97M	122.3M	145.5M	170.6M	211.9M	284M	314.7M	361.8M
Gross profit	106.1M	132.6M	172.8M	258M	364.4M	408.9M	465.9M	539.6M
Gross margin	52.2%	52%	54.3%	60.2%	63.2%	59%	59.7%	59.9%
Research & development	44.9M	60M	75M	115.7M	143.9M	140.4M	142.5M	161.6M
Selling, general & administrative	88.5M	102.5M	113.7M	153.5M	246.2M	235.8M	232.4M	221M
Operating expenses	133.4M	162.5M	188.6M	269.2M	390.1M	376.1M	374.9M	382.6M
Operating income	-27.3M	-29.9M	-15.8M	-11.2M	-25.7M	32.8M	91M	157M
Operating margin	-13.4%	-11.7%	-4.96%	-2.61%	-4.46%	4.73%	11.7%	17.4%
Non-operating income, net	-1.2M	-336K	-13.3M	-3.4M	-407K	-20.9M	—	48.1M
Pretax income	-34.8M	-39.6M	-42.7M	-18.2M	-23.9M	26.8M	97.7M	206.7M
Income tax	1.2M	793K	911K	1.3M	3.9M	7.4M	13.2M	-52.6M
Net income	-36M	-40.4M	-43.6M	-19.5M	-27.8M	19.4M	84.5M	259.3M
Net margin	-17.7%	-15.9%	-13.7%	-4.55%	-4.82%	2.8%	10.8%	28.8%
EBITDA	24.5M	32.8M	46.8M	77.3M	87.2M	174.5M	236.9M	313.9M
EPS	-0.41	-0.46	-0.41	-0.21	-0.24	0.22	0.92	2.83
Diluted EPS	-0.41	-0.46	-0.41	-0.21	-0.24	0.2	0.89	2.52

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	177.1M	180.9M	184.7M	192.5M	198.5M	204.9M	210.7M	218.7M	229.6M	242.4M	257.9M	281.2M
Cost of revenue	70.3M	74.4M	72.6M	75.1M	79M	87.8M	81.3M	87.8M	92.7M	100.1M	113.2M	126.5M
Gross profit	106.7M	106.5M	112.1M	117.3M	119.4M	117.1M	129.4M	130.9M	136.9M	142.3M	144.7M	154.7M
Gross margin	60.3%	58.9%	60.7%	61%	60.2%	57.1%	61.4%	59.9%	59.6%	58.7%	56.1%	55%
Research & development	32.6M	30.9M	34M	34M	37.4M	37.1M	39.6M	39.6M	38.1M	44.3M	48.8M	57.5M
Selling, general & administrative	39.1M	64.6M	66.6M	61M	57.5M	47.4M	52.2M	55.7M	53.9M	59.2M	59.3M	67.8M
Operating expenses	71.7M	95.5M	100.5M	95M	94.8M	84.5M	91.8M	95.3M	92M	103.5M	108.1M	125.3M
Operating income	35M	11M	11.5M	22.3M	24.6M	32.5M	37.6M	35.6M	44.9M	38.8M	36.6M	29.4M
Operating margin	19.8%	6.09%	6.25%	11.6%	12.4%	15.9%	17.9%	16.3%	19.6%	16%	14.2%	10.4%
Non-operating income, net	441K	-25K	—	—	—	—	—	-269K	48.4M	0	-2.7M	—
Pretax income	37.1M	13.5M	14.3M	24.8M	29.6M	29M	41.4M	42.4M	90.3M	32.5M	24.5M	27.1M
Income tax	17.9M	-2.4M	116K	5.7M	-3.3M	10.7M	3.2M	5.4M	-68.1M	6.9M	8.7M	-8.3M
Net income	19.2M	15.9M	14.1M	19.1M	32.9M	18.3M	38.2M	37M	158.4M	25.7M	15.8M	35.4M
Net margin	10.8%	8.81%	7.65%	9.94%	16.6%	8.91%	18.1%	16.9%	69%	10.6%	6.12%	12.6%
EBITDA	69.6M	46.6M	48.4M	60.3M	67.7M	60.4M	72.8M	77.7M	82M	81.4M	83.2M	85.8M
EPS	0.22	0.18	0.16	0.21	0.36	0.2	0.42	0.41	1.74	0.28	0.17	0.34
Diluted EPS	0.2	0.17	0.15	0.2	0.33	0.19	0.39	0.39	1.51	0.24	0.15	0.29

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	2.6B	—	3.1B	4.4B	16B
Enterprise value	—	—	—	—	3.3B	—	4.4B	5.7B	17.6B
Shares outstanding	87.1M	87.1M	105.3M	93.2M	100.8M	90.1M	91.6M	91.5M	91.5M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	36.9	17	63.8
P/S	—	—	—	—	4.46	—	4	4.88	16.3
P/B	—	—	—	—	54	—	-15.4	-153.4	15.8
EV/EBITDA	—	—	—	—	38.3	—	18.5	18.3	57.2
EV/Sales	—	—	—	—	5.79	—	5.62	6.38	17.4
Earnings yield	—	—	—	—	—	—	2.71%	5.89%	1.57%
FCF yield	—	—	—	—	2.92%	—	3.08%	0.93%	-0.15%
PEG	—	—	—	—	—	—	—	—	-3.74

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	52.2%	52%	54.3%	60.2%	63.2%	59%	59.7%	59.9%	55%
Operating margin	-13.4%	-11.7%	-4.96%	-2.61%	-4.46%	4.73%	11.7%	17.4%	10.4%
Net margin	-17.7%	-15.9%	-13.7%	-4.55%	-4.82%	2.8%	10.8%	28.8%	23.3%
ROE	—	55.9%	60.4%	-3.37%	-58.4%	-6.19%	-41.6%	-903.7%	62.3%
ROA	—	-13.4%	-10.1%	-0.93%	-1.53%	1.33%	5.16%	14.1%	3.86%
ROIC	—	-34.8%	-18.1%	-3.42%	-3.14%	2.56%	7.4%	11.9%	8.84%
Return on tangible assets	—	-17%	-12.3%	-1%	-2.93%	4.01%	12%	27.5%	10.5%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	0.84	1.75	30.4	5.72	2.61	2.45	0.69	1.31
Quick ratio	—	0.84	1.75	30.4	5.72	2.61	2.45	0.69	1.31
Debt / equity	—	-2.64	-3.6	2.53	34.4	-5.28	-8.35	-55.8	2.13
Debt / assets	—	0.63	0.6	0.7	0.9	1.13	1.03	0.87	0.49
Net debt / EBITDA	—	4.82	3.41	-3.24	8.85	7.13	5.35	4.29	2.3
Interest coverage	-4.51	-3.23	-2.13	-3.86	-1.84	3.99	11.7	12.5	6.54
Effective tax rate	0%	0%	0%	0%	0%	27.5%	13.5%	0%	0%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.33	2.92	3.02	4.6	5.72	7.69	8.52	9.85	10.6
EPS (basic)	-0.41	-0.46	-0.41	-0.21	-0.24	0.22	0.92	2.83	2.83
EPS (diluted)	-0.41	-0.46	-0.41	-0.21	-0.24	0.2	0.89	2.52	2.19
Book value per share	—	-0.83	-0.68	6.2	0.47	-3.48	-2.21	-0.31	8.86
FCF per share	-0.27	-0.51	-0.54	0.26	0.74	1.22	1.05	0.45	-0.03
Cash per share	—	0.38	0.95	18.4	8.57	4.57	4.68	2.78	6.52
Capex per share	0	0	0	0.01	0.01	0	0	1.53	1.06

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	0.02%	0.05%	0.12%	0.17%	0.03%	0.01%	15.5%	13.3%
Capex / operating cash flow	0%	0.16%	0.41%	0.45%	0.55%	0.1%	0.02%	45.2%	43.4%
Payout ratio	—	—	—	—	—	—	—	—	0%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	32.9M	100.3M	1.7B	864.2M	411.8M	428.4M	254.5M
Receivables	20.7M	28.1M	39.6M	53.8M	62.2M	72.5M	90.9M
Inventory	—	—	—	—	—	—	—
Total current assets	60.6M	148M	1.8B	946M	503M	541.7M	427M
Property, plant & equipment	205.9M	239M	249.6M	426.9M	460.6M	620.4M	859.9M
Goodwill & intangibles	65M	74.6M	150.2M	868.2M	976.9M	932.8M	896.4M
Total assets	302.5M	430.3M	2.1B	1.8B	1.5B	1.6B	1.8B
Accounts payable	27.2M	12.4M	12.7M	21.1M	4M	54.6M	38.8M
Short-term debt	15.2M	17.5M	—	57.4M	86.5M	79.3M	464.6M
Total current liabilities	72.5M	84.8M	58.2M	165.5M	192.6M	221M	619.5M
Long-term debt	175.9M	242.2M	1.5B	1.6B	1.6B	1.6B	1.1B
Total liabilities	374.8M	502.3M	1.5B	1.8B	1.8B	1.8B	1.9B
Shareholders' equity	-72.3M	-72.1M	578.2M	47.6M	-313.7M	-203M	-28.7M
Total debt	191.1M	259.7M	1.5B	1.6B	1.7B	1.7B	1.6B
Net debt	158.2M	159.4M	-250.7M	1.5B	1.3B	1.3B	1.3B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	384.1M	411.8M	419.1M	443.1M	439.9M	428.4M	360.4M	387.7M	236.6M	254.5M	741.4M	767M
Receivables	60.2M	62.2M	63.9M	67.4M	68.9M	72.5M	76.6M	81.3M	84.4M	90.9M	105.5M	115M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	471.5M	503M	515.8M	543.7M	552M	541.7M	479.2M	509.8M	367.6M	427M	944.3M	1B
Property, plant & equipment	451.1M	460.6M	478.1M	505.9M	492.4M	620.4M	689.2M	734.7M	800.6M	859.9M	1.1B	1.6B
Goodwill & intangibles	988.4M	976.9M	965.5M	954.7M	943.6M	932.8M	924.4M	916M	906.2M	896.4M	896.7M	888M
Total assets	1.4B	1.5B	1.5B	1.5B	1.5B	1.6B	1.6B	1.7B	1.7B	1.8B	2.6B	3.1B
Accounts payable	14.3M	4M	4.5M	9.5M	12.9M	54.6M	9.4M	31.3M	67.6M	38.8M	31.9M	10.4M
Short-term debt	76.1M	86.5M	81.2M	74M	68.1M	79.3M	92.9M	98.2M	148.9M	464.6M	480.1M	567.7M
Total current liabilities	184.3M	192.6M	189M	220.2M	176M	221M	198.3M	224.5M	325M	619.5M	647M	776.1M
Long-term debt	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.6B	1.7B	1.4B	1.1B	819.8M	962.3M
Total liabilities	1.8B	1.8B	1.8B	1.8B	1.7B	1.8B	1.9B	1.9B	1.8B	1.9B	1.7B	2.2B
Shareholders' equity	-358.8M	-313.7M	-286.1M	-253.8M	-211.7M	-203M	-210.7M	-175.2M	-69.6M	-28.7M	887.4M	930.7M
Total debt	1.7B	1.7B	1.7B	1.6B	1.6B	1.7B	1.7B	1.8B	1.6B	1.6B	1.3B	1.5B
Net debt	1.6B	1.3B	1.2B	1.2B	1.2B	1.3B	1.4B	1.4B	1.4B	1.3B	558.5M	762.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-36M	-40.4M	-43.6M	-19.5M	-27.8M	19.4M	84.5M	259.3M
Depreciation & amortization	52.4M	63.1M	75.6M	88.4M	102.2M	117.9M	130.1M	137.4M
Stock-based compensation	12.2M	18.6M	29.5M	61.6M	105.8M	88.3M	90.5M	80.3M
Change in working capital	-12.2M	-14.4M	-20.8M	-18.4M	-19.3M	-1.8M	-52.6M	-24.4M
Operating cash flow	18.4M	27.8M	41.9M	110.2M	178.6M	237.2M	268M	309.6M
Capital expenditure	0	44K	173K	494K	981K	236K	43K	-139.9M
Investing cash flow	0	-2.9M	173K	-4.5M	-1B	526M	91.7M	-139.9M
Dividends paid	—	—	—	—	—	—	—	—
Share repurchases	—	0	-1.4M	-350M	-600M	-488.5M	-59.8M	-82.1M
Financing cash flow	-32M	44M	25.6M	1.5B	-629.8M	-512.3M	-93.6M	-225.9M
Net change in cash	-13.7M	68.9M	67.7M	1.6B	-1.5B	250.9M	266.1M	-56.2M
Free cash flow	-23.3M	-44.6M	-57.3M	24M	74.9M	110.1M	96.2M	41.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	—	—	14.1M	19.1M	32.9M	18.3M	38.2M	37M	158.4M	25.7M	15.8M	35.4M
Depreciation & amortization	—	—	31.9M	33.1M	35.8M	29.2M	29.2M	32.8M	35.1M	40.4M	45.5M	51.2M
Stock-based compensation	—	—	22.9M	21.8M	22.9M	22.9M	19.4M	21.1M	19.8M	20M	22.5M	32.7M
Change in working capital	—	—	-8.2M	-5.5M	-18.4M	-20.5M	-6.9M	-3.6M	-6M	-7.9M	-7.8M	22.6M
Operating cash flow	—	—	66M	69.2M	73.8M	59.1M	72.6M	92.4M	95.8M	57.3M	46.9M	110M
Capital expenditure	—	—	0	0	42K	1K	—	-34.6M	-10.9M	-30.4M	-44.7M	-48.6M
Investing cash flow	0	0	91.7M	0	42K	1K	0	-34.6M	-10.9M	-30.4M	-48.8M	-48.6M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	-8.8M	-9.4M	-11.7M	-29.9M	-59.1M	-20.1M	-2.9M	0	0	0
Financing cash flow	—	—	-16.9M	-17.5M	-20.8M	-38.5M	-69.1M	-33.2M	-211.2M	87.5M	499.6M	-249K
Net change in cash	0	0	140.7M	51.7M	53M	20.7M	3.5M	24.7M	-126.3M	114.4M	497.8M	61.1M
Free cash flow	—	—	21.5M	37M	13.6M	24.2M	-885K	57M	57.3M	-72.3M	-9.6M	20.8M

DigitalOcean Holdings Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement