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Dec 31, 2023
DigitalOcean Q4 2023 Earnings Report
DigitalOcean announced its Q4 2023 earnings, demonstrating revenue growth and strategic investments.
Key Takeaways
DigitalOcean reported an 11% year-over-year increase in revenue, reaching $181 million for Q4 2023. The company's ARR reached $730 million, and it achieved a net income of $16 million, with diluted net income per share at $0.17 and non-GAAP diluted net income per share at $0.44.
Revenue increased by 11% year-over-year to $181 million.
ARR reached $730 million, representing an 11% year-over-year growth.
Net income was $16 million, with a net income margin of 9%.
Non-GAAP diluted net income per share was $0.44.
Forward Guidance
DigitalOcean provided financial outlook for Q1 2024 and full year 2024.
Positive Outlook
- Q1 2024 total revenue is expected to be $182 to $183 million.
- Q1 2024 adjusted EBITDA margin is expected to be 37% to 38%.
- Q1 2024 non-GAAP diluted net income per share is expected to be $0.37 to $0.39.
- Full year 2024 total revenue is expected to be $755 to $775 million.
- Full year 2024 adjusted EBITDA margin is expected to be 36% to 38%.
Challenges Ahead
- Adjusted free cash flow margin for full year 2024 is expected to be in the range of 19% to 21% of revenue.
- Q1 2024 fully diluted weighted average shares outstanding of approximately 101 to 102 million shares.
- Full year 2024 non-GAAP diluted net income per share of $1.60 to $1.67.
- Full year 2024 fully diluted weighted average shares outstanding of approximately 102 to 103 million shares.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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