DigitalOcean Holdings, Inc. - DOCN STOCK NEWS

DigitalOcean Holdings (NYSE:DOCN) has launched DigitalOcean Functions, a serverless solution tailored for developers, startups, and SMBs. This offering allows users to build applications without managing cloud infrastructure, enabling faster development and cost savings. According to IDC, 25% of cloud IaaS buyers plan to use serverless functions in the coming year, highlighting strong market demand. DigitalOcean Functions integrates seamlessly with existing services and supports multiple programming languages, enhancing user experience and productivity.

DigitalOcean Holdings, symbol DOCN, has announced an upcoming Investor Day set for June 9, 2022, at 1:00 p.m. EDT. This event will provide updates on the company’s strategy, product roadmap, and long-term financial plans. Interested parties can join via a live webcast on the DigitalOcean Investor Relations website, with an archived version available afterward.

DigitalOcean Holdings, Inc. (DOCN) reported a strong first quarter for 2022, with revenue of $127.3 million, reflecting a 36% year-over-year increase. The Net Dollar Retention Rate improved to 117%, and Average Revenue Per Customer rose by 28% to $68.90. The company generated a 4% Free Cash Flow Margin.

Despite a $13.1 million loss from operations and a (10%) operating margin, the outlook remains positive with projected second-quarter revenue of $133 to $135 million.

DigitalOcean Holdings (NYSE:DOCN) has launched DO Impact, a global social impact initiative aimed at empowering changemakers through philanthropy, products, and community involvement. The program includes monetary grants totaling $500,000 to 30 organizations, including Fast Forward and The Federation of Humanitarian Technologists, fulfilling part of the company's Pledge 1% commitment to donate $50 million over ten years. The initiative also features volunteer opportunities for employees to aid nonprofits, reinforcing DigitalOcean's mission to support developers and SMBs.

DigitalOcean (NYSE: DOCN) announced that it will release its financial results for Q1 2022 on May 4, 2022, after U.S. market close. A conference call is scheduled for 4:30 PM ET the same day to discuss these results and the company's outlook with investors. Participants can join by calling (888) 330-3637 with conference ID 7741047. A replay of the call will be available until May 11, 2022. DigitalOcean aims to simplify cloud computing for developers, startups, and SMBs, enabling them to build and scale applications efficiently.

DigitalOcean Holdings (NYSE: DOCN) has announced its participation in key investor conferences. The JMP Securities Technology Conference will be held on March 8, 2022, followed by the Morgan Stanley Technology, Media & Telecom Conference on March 8 and 9, 2022. Details about the events, including presentation times and webcast information, can be found on DigitalOcean's investor relations website. The company focuses on simplifying cloud computing for developers and small businesses, aiming to enhance productivity and innovation.

DigitalOcean reported a 37% increase in fourth-quarter revenue, reaching $119.7 million, with a net dollar retention rate of 116%. The average revenue per customer grew by 29% year-over-year to $65.87. Free cash flow constituted 6% of revenue in 2021, marking the first year of positive cash flow. For 2022, DigitalOcean anticipates revenue between $564 million and $568 million and a non-GAAP earnings per share of $0.70 to $0.71. The company also announced a $300 million stock repurchase program to offset dilution from employee grants.

DigitalOcean Holdings, Inc. (NYSE: DOCN) will report its financial results for Q4 and the fiscal year ended December 31, 2021, before the market opens on February 24, 2022. A conference call to discuss these results will occur the same day at 8:00 AM ET. Interested parties can listen in by dialing the provided numbers or accessing the webcast via DigitalOcean's investor relations website. The call will be available for replay until March 3, 2022. DigitalOcean aims to simplify cloud computing for developers, startups, and SMBs, enhancing productivity and innovation.

DigitalOcean Holdings (NYSE: DOCN) released findings from its Currents report, highlighting that while 52% of traditional SMBs view the cloud as essential, 43% lack full-time technical staff. The report shows that 50% of non-tech SMBs adopted cloud solutions during the pandemic, with barriers such as cost (19%) and time management (12%) hindering further adoption. The study reveals a significant knowledge gap in cloud concepts between traditional SMBs and enterprises and suggests a need for simpler cloud solutions tailored for traditional SMBs.