DigitalOcean Holdings, Inc. - DOCN STOCK NEWS

DigitalOcean Holdings, Inc. (NYSE: DOCN) reported third-quarter 2022 results with a 37% year-over-year revenue increase, totaling $152.1 million. The acquisition of Cloudways contributed $4.1 million to revenues, with standalone growth at 33%. Annual Run-Rate Revenue (ARR) reached $640.6 million, up 41% year-over-year. Free cash flow improved to $22.4 million, with a 15% free cash flow margin. Looking ahead, fourth-quarter revenue guidance is set between $160 and $162 million, with a full-year revenue forecast of $573 to $575 million.

DigitalOcean Holdings, Inc. (NYSE:DOCN) has launched the Partner Pod, a new channel partner program aimed at supporting digital agencies, consultants, and technology providers. This initiative is tailored for businesses servicing small and medium-sized enterprises (SMBs), providing access to a comprehensive suite of cloud products, technical support, and marketing resources. Through various partnership tracks, partners can select paths aligning with their business goals, enhancing their capacity to aid SMBs. The program emphasizes long-term relationships and mutual growth for partners and their clientele.

DigitalOcean Holdings, Inc. (NYSE: DOCN) will release its third quarter financial results on November 7, 2022, after U.S. financial markets close. The earnings report along with a webcast will be available on the DigitalOcean investor relations website. A conference call to discuss the results is scheduled for 4:30 PM ET on the same day, accessible via a designated phone line. A replay of the call will be available until November 14, 2022.

DigitalOcean Holdings, Inc. (NYSE:DOCN) has successfully completed its $350M acquisition of Cloudways, a prominent managed cloud hosting and SaaS provider catering to small and medium-sized businesses (SMBs). This acquisition is anticipated to enhance DigitalOcean's capabilities, enabling SMBs to launch and scale their businesses efficiently. CEO Yancey Spruill highlighted that this strategic move will strengthen their mission to simplify cloud computing, allowing builders to focus more on software development.

DigitalOcean (NYSE:DOCN) has announced its acquisition of Cloudways for $350 million, aimed at enhancing services for small to medium-sized businesses (SMBs). The transaction is set to accelerate revenue growth, increasing high spend customers by 18% while remaining neutral to operating profit and cash flow margins. Cloudways is expected to generate over $52 million in revenue for fiscal 2022, contributing between $13 and $15 million to DigitalOcean's revenue. The acquisition expands DigitalOcean's serviceable market.

DigitalOcean Holdings, Inc. (NYSE: DOCN) reported solid Q2 2022 results, with revenue increasing 29% year-over-year to $133.9 million. The Annual Run-Rate Revenue (ARR) reached $544.1 million, up 28% year-over-year. The company achieved a gross profit of $86.6 million, representing a gross margin of 65%. However, there was a net loss of $7.4 million. Looking ahead, for Q3 2022, revenue is projected between $145.5 million and $147 million, with a non-GAAP operating margin of 17-18%. The CFO plans to retire in 2023 after a transition period.

DigitalOcean Holdings, Inc. (NYSE: DOCN) will release its financial results for Q2 2022 on August 8, 2022, after U.S. markets close. The earnings report and related materials will be available on the DigitalOcean investor relations website. A conference call to discuss the results is scheduled for the same day at 4:30 PM ET, accessible by dialing (888) 330-3637 and using conference ID 7741047. A telephonic replay will be available until August 15, 2022.

DigitalOcean Holdings (NYSE:DOCN) has appointed Megan Wood as the new Chief Strategy Officer, a role aimed at enhancing business strategy and execution. Reporting to CEO Yancey Spruill, Wood will oversee corporate development, strategy deployment, and program management, leveraging her previous experience at NerdWallet and Maxar. This appointment is part of DigitalOcean's strategy to align teams toward achieving business objectives amidst its growth journey.

DigitalOcean Holdings, Inc. (NYSE:DOCN) has released its latest Currents report highlighting a growing developer talent shortage. Key findings reveal that 42% of developers are contemplating job changes, with 8% aiming to start their own companies. Factors influencing this trend include the need for competitive compensation and flexible work arrangements. The survey included 2,598 responses from developers across 94 countries, indicating a shift toward entrepreneurship and open-source contributions, despite skepticism about Web3 technologies.