DigitalOcean Holdings, Inc. - DOCN STOCK NEWS

DigitalOcean Holdings (NYSE: DOCN) has launched Bare Metal GPUs, a dedicated, single-tenant infrastructure solution designed for advanced AI/ML workloads. Unlike their GPU Droplets, these Bare Metal GPUs provide customers with full, unshared access to the entire GPU, making them ideal for large-scale model training, real-time inference, and complex orchestration. The service is currently available in data centers located in New York, USA and Amsterdam, Netherlands.

DigitalOcean Holdings (NYSE: DOCN) has launched scalable storage for its Managed MongoDB offering, enabling customers to independently scale their cloud storage capacity without upgrading entire database plans. The new feature allows users to adjust storage based on data demands without incurring unnecessary compute costs. The service includes independent scaling of MongoDB storage from compute resources, cost-efficient granular billing, and automated provisioning with minimal downtime. This enhancement was developed in collaboration with MongoDB to support data-intensive workloads like generative AI while maintaining performance and controlling costs.

DigitalOcean (NYSE: DOCN) reported strong Q3 2024 results with revenue of $198 million, up 12% year-over-year. The company achieved a net income of $33 million with a 17% margin and Adjusted EBITDA of $87 million with a 44% margin. Key highlights include the release of 42 new product features, launch of GPU Droplets with NVIDIA H100 GPUs, and early availability of GenAI Platform. The company raised its full-year revenue guidance to $775-777 million while maintaining free cash flow margin guidance at 15-17%. Average Revenue Per Customer increased 11% to $102.51, with Builders and Scalers revenue growing 15% year-over-year.

DigitalOcean (NYSE: DOCN) has announced a strategic partnership with Hugging Face to launch 1-Click Models, a new service powered by Hugging Face GenAI Services (HUGS). The solution enables quick deployment of popular AI/ML models using DigitalOcean GPU Droplets with NVIDIA H100 acceleration. The service simplifies the typically complex process of setting up AI/ML models in cloud environments, allowing developers to deploy models like Meta Llama 3 and Mistral within minutes. Features include pre-configured Droplet setup, optimized model performance, and ongoing maintenance support by Hugging Face.

DigitalOcean Holdings, Inc. (NYSE: DOCN) has announced the date for its third quarter 2024 earnings conference call. The company will release its financial results for the quarter ended September 30, 2024, before the market opens on Monday, November 4, 2024. A conference call with the investment community is scheduled for the same day at 8:00 a.m. (ET) / 5:00 a.m. (PT).

Investors and analysts can pre-register for the webcast through a provided link. The earnings release, webcast link, and any accompanying materials will be available on the DigitalOcean investor relations website. Both a live webcast and replay of the conference call will be accessible from the company's investor relations website.

DigitalOcean Holdings (NYSE: DOCN) has announced the general availability of GPU Droplets, offering easy-to-deploy advanced AI infrastructure on a pay-as-you-go model. Powered by NVIDIA H100 GPUs, these Droplets are available in single-node and multi-node configurations, simplifying AI development and experimentation.

Key features include:

• Simple setup with a few clicks or a single API call
• Cost-friendly 1X and 8X configurations
• Managed Kubernetes service with NVIDIA H100 GPU support
• No upfront investment in costly hardware required

DigitalOcean is also planning to launch a generative AI platform to further simplify AI application development, including pre-built components like hosted LLMs and easy-to-use data ingestion pipelines.

DigitalOcean Holdings, Inc. (NYSE: DOCN) has announced updates to its role-based access control (RBAC) system, introducing a new set of predefined roles to streamline user access management. The update includes three new roles: Modifier, Billing viewer, and Resource viewer, each designed to provide specific levels of access and permissions.

These roles complement existing basic roles and aim to enhance security and simplify permission management. DigitalOcean's CISO, Tyler Healy, emphasized that this update allows businesses to scale while minimizing risk and meeting compliance requirements. The company plans to release additional identity and access management (IAM) features in the coming months, including per-bucket Spaces access keys and custom RBAC roles.

DigitalOcean (NYSE: DOCN) announced Q2 2024 financial results, reporting revenue of $192 million, a 13% year-over-year increase. Gross profit rose 15% to $117 million with a 61% margin. GAAP net income was $19 million, and Adjusted EBITDA was $82 million, reflecting a 42% margin. The company also introduced several new products, including GPU droplets for AI/ML applications and Premium CPU Optimized 96 vCPU Droplets. ARR ended the quarter at $781 million, up 15% year-over-year. ARPU grew 9% to $99.45. Guidance for Q3 2024 includes estimated revenue of $196-$197 million and a 37%-38% Adjusted EBITDA margin. Full-year 2024 revenue guidance was adjusted to $770-$775 million with an Adjusted EBITDA margin of 37%-39% and non-GAAP diluted net income per share of $1.60-$1.70.

DigitalOcean Holdings, Inc. (NYSE: DOCN) has appointed Larry D'Angelo as its new Chief Revenue Officer. With over 30 years of tech industry experience, D'Angelo will oversee the company's go-to-market strategy and drive rapid growth. He will be responsible for new business growth through direct sales, channel partnerships, customer success, support, and corporate communications.

D'Angelo's extensive leadership experience includes roles as Chief Customer Officer at Rapid7 and Chief Sales Officer at LogMeIn, where he helped grow revenue from $100M to $1.4B. CEO Paddy Srinivasan praised D'Angelo's expertise in data-driven, high-velocity sales and customer success functions, highlighting his potential to complement DigitalOcean's product-led growth strategy.