as of 10-01-2026 3:46pm EST
DigitalOcean Holdings Inc is a cloud computing platform offering on-demand infrastructure and platform tools for developers, start-ups, and small and medium-sized businesses. The customers use the platform for a wide range of cases, such as web and mobile applications, website hosting, e-commerce, media and gaming, personal web projects, and managed services, among many others. Geographically, the company generates maximum revenue from North America and also has a presence in Europe, Asia, and the Rest of the world.
| Founded: | 2011 | Country: | United States |
| Employees: | N/A | City: | BROOMFIELD |
| Market Cap: | 13.2B | IPO Year: | 2021 |
| Target Price: | $175.20 | AVG Volume (30 days): | 2.2M |
| Analyst Decision: | Buy | Number of Analysts: | 17 |
| Dividend Yield: | N/A | Dividend Payout Frequency: | N/A |
| EPS: | 0.45 | EPS Growth: | 183.15 |
| 52 Week Low/High: | $37.09 - $187.50 | Next Earning Date: | 11-04-2026 |
| Revenue: | $901,427,000 | Revenue Growth: | 15.48% |
| Revenue Growth (this year): | 30.75% | Revenue Growth (next year): | 53.74% |
| P/E Ratio: | 299.61 | Index: | N/A |
| Free Cash Flow: | 180.5M | FCF Growth: | -84.45% |
Chief Executive Officer
Avg Cost/Share
$140.00
Shares
11,394
Total Value
$1,595,160.00
Owned After
751,423
SEC Form 4
Chief Financial Officer
Avg Cost/Share
$105.73
Shares
10,000
Total Value
$1,057,300.00
Owned After
503,692
SEC Form 4
Chief Executive Officer
Avg Cost/Share
$105.73
Shares
5,697
Total Value
$602,343.81
Owned After
751,423
SEC Form 4
SVP, Chief Accounting Officer
Avg Cost/Share
$105.73
Shares
3,985
Total Value
$421,334.05
Owned After
58,399
SEC Form 4
Chief Executive Officer
Avg Cost/Share
$129.11
Shares
5,697
Total Value
$735,539.67
Owned After
751,423
SEC Form 4
SVP, Chief Accounting Officer
Avg Cost/Share
$132.37
Shares
4,456
Total Value
$589,840.72
Owned After
58,399
SEC Form 4
Director
Avg Cost/Share
$124.01
Shares
4,200
Total Value
$520,854.60
Owned After
67,433
SEC Form 4
| Insider | Ticker | Relationship | Date | Transaction | Avg Cost | Shares | Total Value | Owned After | SEC Forms |
|---|---|---|---|---|---|---|---|---|---|
| Srinivasan Padmanabhan T | DOCN | Chief Executive Officer | Sep 21, 2026 | Sell | $140.00 | 11,394 | $1,595,160.00 | 751,423 | |
| Steinfort Matt | DOCN | Chief Financial Officer | Sep 3, 2026 | Sell | $105.73 | 10,000 | $1,057,300.00 | 503,692 | |
| Srinivasan Padmanabhan T | DOCN | Chief Executive Officer | Sep 3, 2026 | Sell | $105.73 | 5,697 | $602,343.81 | 751,423 | |
| Barrett Cherie | DOCN | SVP, Chief Accounting Officer | Sep 3, 2026 | Sell | $105.73 | 3,985 | $421,334.05 | 58,399 | |
| Srinivasan Padmanabhan T | DOCN | Chief Executive Officer | Aug 17, 2026 | Sell | $129.11 | 5,697 | $735,539.67 | 751,423 | |
| Barrett Cherie | DOCN | SVP, Chief Accounting Officer | Aug 13, 2026 | Sell | $132.37 | 4,456 | $589,840.72 | 58,399 | |
| Adelman Warren J | DOCN | Director | Aug 7, 2026 | Sell | $124.01 | 4,200 | $520,854.60 | 67,433 |
SEC 8-K filings with transcript text
Aug 4, 2026 · 100% conf.
1D
-0.31%
$136.69
Act: +2.37%
5D
-5.53%
$129.54
Act: -7.89%
20D
+0.66%
$138.02
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Jul 7, 2026 · 100% conf.
1D
-0.31%
$136.69
Act: +2.37%
5D
-5.53%
$129.54
Act: -7.89%
20D
+0.66%
$138.02
SEC.gov | Request Rate Threshold Exceeded
U.S. Securities and Exchange Commission
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Reference ID: 0.e618d017.1784333142.424fa2be
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May 5, 2026
SEC.gov | Request Rate Threshold Exceeded
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Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).
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Feb 24, 2026 · 100% conf.
1D
+0.21%
$62.87
Act: -5.53%
5D
-4.91%
$59.66
Act: -11.70%
20D
-2.82%
$60.97
docn-202602240001582961false00015829612026-02-242026-02-24
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 24, 2026
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
105 Edgeview Drive, Suite 425 Broomfield Colorado 80021
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On February 24, 2026, the Company issued a press release announcing its financial results for the fiscal quarter and year ended December 31, 2025. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated February 24, 2026.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:February 24, 2026DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
Nov 5, 2025
docn-202511050001582961false00015829612025-11-052025-11-05
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 5, 2025
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
105 Edgeview Drive, Suite 425 Broomfield Colorado 80021
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On November 5, 2025, the Company issued a press release announcing its financial results for the fiscal quarter ended September 30, 2025. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated November 5, 2025.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:November 5, 2025DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
Aug 5, 2025
docn-202508050001582961false00015829612025-08-052025-08-05
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 5, 2025
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
105 Edgeview Drive, Suite 425 Broomfield Colorado 80021
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On August 5, 2025, the Company issued a press release announcing its financial results for the fiscal quarter ended June 30, 2025. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated August 5, 2025.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:August 5, 2025DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
May 6, 2025
docn-202505050001582961false00015829612025-05-052025-05-05
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 5, 2025
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
105 Edgeview Drive, Suite 425 Broomfield Colorado 80021
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement. On May 5, 2025 (the “Effective Date”), DigitalOcean Holdings, Inc. (the “Company”) entered into a credit agreement (the “Credit Agreement”) by and among the Company, our wholly owned subsidiary, DigitalOcean, LLC, as borrower (the “Borrower”), the lenders from time to time party thereto (the “Lenders”) and Morgan Stanley Senior Funding, Inc., as administrative agent and collateral agent for the Lenders (in such capacity, the “Agent”). The Credit Agreement replaces the Company’s existing Third Amended and Restated Credit Agreement, dated as of March 29, 2022 (the “Existing Credit Agreement”), by and among the Company, the Borrower, the lenders and financial institutions party thereto and KeyBank National Association, as administrative agent, which was terminated in full on the Effective Date.
The Credit Agreement provides for (i) a senior secured revolving credit facility in an aggregate principal amount of $300.0 million (the “Revolving Credit Facility”; and any loans thereunder, the “Revolving Loans”), including a $30.0 million sublimit for the issuance of letters of credit, and (ii) a senior secured delayed draw term loan facility in the aggregate principal amount of $500.0 million (the “Term Loan Facility”; and any loans thereunder, the “Term Loans”). The Credit Agreement provides that the Borrower has the right at any time and from time to time to incur one or more incremental revolving commitments and/or incremental term loans up to an unlimited amount, subject to certain customary conditions precedent and other requirements, including compliance with certain leverage ratios. The Lenders are not obligated to provide any such incremental loans or commitments. The proceeds of the Revolving Loans may be used for working capital and other general corporate purposes. The proceeds of the Term Loans may only be used to refinance the Company's existing 0% convertible senior notes due 2026 (the “2026 Convertible Notes”). As of the Effective Date, there are no outstanding loans under the Credit Agreement.
The maturity date of both the Revolving Credit Facility and the Term Loan Facility is the fifth anniversary of the Effective Date, subject to a springing maturity that is 91 days prior to the earliest scheduled maturity date of the Springing Maturity Debt (as defined in the Credit Agreement, including the 2026 Convertible Notes) if (i) the aggregate outstanding principal amount of such Springing Maturity Debt exceeds the greater of $170.0 million and 50% of Consolidated EBITDA (as defined in the Credit Agreement) on any date that is 91 days prior to the final scheduled maturity date of such Springing Maturity Debt, (ii) the Borrower’s liquidity (which includes amounts available under the Revolving Credit Facility and the consolidated unrestricted cash and cash equivalents o
Apr 4, 2025
docn-202504040001582961false00015829612025-04-042025-04-040001582961dei:FormerAddressMember2025-04-042025-04-04
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 4, 2025
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
105 Edgeview Drive, Suite 425 Broomfield Colorado 80021
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
101 6th Avenue New York New York 10013
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition On April 4, 2025 DigitalOcean Holdings, Inc. (the “Company”) held an Investor Day during which the Company reaffirmed guidance for the fiscal quarter ended March 31, 2025 and the year ended December 31, 2025, as previously issued in the Company’s press release dated February 25, 2025 announcing the Company's financial results for the fiscal quarter and year ended December 31, 2024. A replay of the webcast, along with the presentation materials, will be available on the Company’s investor relations website at http://investors.digitalocean.com until April 3, 2026 at 11:59PM ET.
The statements herein regarding our financial outlook are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause actual results or outcomes to be materially different from any future results or outcomes expressed or implied by the forward-looking statements. These risks, uncertainties, assumptions, and other factors include, but are not limited to: (1) fluctuations in our financial results make it difficult to project future results; (2) our ability to sustain profitability in the future; (3) our ability to expand usage of our platform by existing customers and/or attract new customers and/ or retain existing customers; (4) the speed at which the market for our platform and solutions develops; (5) the success of the development and use of our artificial learning and machine learning (AI/ML) product offerings or use of third-party AI/ML-based tools; (6) our ability to release updates and new features to our platform and adapt and respond effectively to rapidly changing technology or customer needs; (7) breaches in our security measures allowing unauthorized access to our platform, our data, or our customers’ data; (8) the competitive markets in which we participate; (9) our ability to effectively integrate and retain new members of our executive leadership team and senior management; (10) general market, political, economic, and business conditions; (11) the operational challenges related to international operations; (12) liability we may incur due to the activities of our customers; and (13) our customers’ ability to have continued and unimpeded access to our platform, including as a result of evolving laws and industry standards.
Further information on these and additional risks, uncertainties, assumptions and other factors that could cause actual results or outcomes to differ materially from those included in or contemplated by the forward-looking statements herein are i
Feb 25, 2025
docn-202502210001582961false00015829612025-02-252025-02-25
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 21, 2025
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On February 25, 2025, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter and year ended December 31, 2024. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 21, 2025, Amy Butte, a member of the Board of Directors (the “Board”) of the Company, notified the Company of her intention not to stand for reelection at the Company’s 2025 Annual Meeting of Stockholders (the “Annual Meeting”). Ms. Butte joined the Board in April 2018 and successfully supported the Company through its initial public offering by leveraging her expertise in the financial industry and helped to guide the Company through the complexities of maturing from a private to a public company. Ms. Butte’s decision not to stand for reelection was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, and she will continue to serve on the Board through the date of the Annual Meeting.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated February 25, 2025.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:February 25, 2025DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
Nov 4, 2024
docn-202410300001582961false00015829612024-10-302024-10-30
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): October 30, 2024
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On November 4, 2024, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2024. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously disclosed on a Current Report on Form 8-K filed by the Company on May 2, 2024, Muhammad Aaqib Gadit, the Company’s then-serving Chief Revenue Officer, notified the Company of his intention to step down from such role upon the commencement of employment of his successor. As further disclosed on a Current Report on Form 8-K filed by the Company on July 22, 2024, the Company announced that Larry D’Angelo commenced employment as the Company’s Chief Revenue Officer on July 22, 2024 and, effective as of such date, Mr. Gadit became an advisor to the Company for a transition period to be mutually agreed upon by the Company and Mr. Gadit. On October 30, 2024, Mr. Gadit resigned from the Company. In recognition of his service to the Company, the Company agreed to waive the requirement under the Share Purchase Agreement, dated as of August 19, 2022 by and among DigitalOcean, LLC, a wholly-owned subsidiary of the Company, Cloudways Limited, Mr. Gadit and the other parties thereto, filed as Exhibit 2.2 to the Current Report on Form 8-K filed by the Company on August 23, 2022, that Mr. Gadit provide continued service to the Company through March 1, 2025 in order to receive the remaining portion of the deferred cash consideration payable to him in connection with the Company’s acquisition of Cloudways Limited. In connection with such waiver, the Company has agreed to make such remaining payment of approximately $7.3 million following Mr. Gadit’s resignation date.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated November 4, 2024.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Aug 8, 2024
docn-202408080001582961false00015829612024-05-102024-05-10
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 8, 2024
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On August 8, 2024, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2024. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated August 8, 2024.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:August 8, 2024DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
May 10, 2024
docn-202405100001582961false00015829612024-05-102024-05-10
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 10, 2024
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On May 10, 2024, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2024. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated May 10, 2024.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:May 10, 2024DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
Feb 21, 2024
docn-202402200001582961false00015829612024-02-202024-02-20
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 20, 2024
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition. On February 21, 2024, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter and year ended December 31, 2023. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 8.01 Other Events. On February 20, 2024, the Board of Directors of the Company approved a new stock repurchase program authorizing the repurchase of up to $140 million of its common stock (the “Repurchase Program”). The Company intends to repurchase shares of common stock under the Repurchase Program when it is opportune to do so at prevailing market prices or in negotiated transactions off the market. The purchases under the Repurchase Program will occur using a variety of methods, which may include but are not limited to open market purchases, the implementation of a 10b5-1 plan, and/or any other available methods in accordance with Securities and Exchange Commission and other applicable legal requirements. The Repurchase Program will expire on December 31, 2025.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated February 21, 2024.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:February 21, 2024DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
Nov 2, 2023
docn-202311020001582961false00015829612023-11-022023-11-02
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 2, 2023
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition. On November 2, 2023, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2023. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On November 2, 2023, the Company announced that Jeffrey Guy, the Company's Chief Operating Officer and a named executive officer, will depart the Company on November 20, 2023 following the transition of his responsibilities.
Item 9.01 Financial Statements and Exhibits. (d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated November 2, 2023.
104Cover Page Interactive File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:November 2, 2023DigitalOcean Holdings, Inc. By:/s/ W. Matthew Steinfort W. Matthew Steinfort, Chief Financial Officer
Aug 11, 2023
docn-202308110001582961false00015829612023-08-112023-08-11
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): August 11, 2023
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Explanatory Note On August 3, 2023, DigitalOcean Holdings, Inc. (the “Company”) issued a press release (the “Earnings Press Release”) announcing its financial results for the fiscal quarter ended June 30, 2023 (“Q2 2023”). In the Earnings Press Release, the Company reported that it was not in a position to report net income attributable to common stockholders or non-GAAP diluted net income per share for Q2 2023 or to provide non-GAAP diluted net income per share outlook for the fiscal quarter ending September 30, 2023 (“Q3 2023”) or the fiscal year ending December 31, 2023 (“FY 2023”), due to errors in the Company’s accounting for income tax expense, described in more detail in the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission (the “SEC”) on August 3, 2023. This Current Report on Form 8-K provides both the results for Q2 2023 that were not reported in the Earnings Press Release and the outlook for Q3 2023 and FY 2023 for these metrics. Accordingly, this Current Report on Form 8-K should be read in conjunction with the Earnings Press Release, as well as the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2022, Quarterly Report on Form 10-Q/A for the quarter ended March 31, 2023 (“Q1 2023”), and Quarterly Report on Form 10-Q for Q2 2023, each to be filed with the SEC on the date hereof.
Item 2.02 Results of Operations and Financial Condition. On August 11, 2023, the Company finalized its income tax expense, net income attributable to common stockholders, diluted net income per share attributable to common stockholders, non-GAAP net income and non-GAAP diluted net income per share for Q2 2023, which are set forth below. More information about the Company’s Q2 2023 financial results are available in the Company’s Quarterly Report on Form 10-Q for Q2 2023. Certain Financial Highlights for Q2 2023: •Income tax expense was $3.3 million. •Net income attributable to common stockholders was $0.7 million and diluted net income per share attributable to common shareholders was $0.01. •Non-GAAP net income was $44.7 million and non-GAAP diluted net income per share was $0.44. As a result of the correction to the previously reported errors in the Company’s accounting for income tax expense, the Company anticipates being a Federal cash tax payer in the U.S. beginning for the full year 2023. The Company has elected to make a change in methodology for the calculation of non-GAAP net income, which is expected to increase the predictability and reduce the volatility of this metric going forward. The Company’s prior methodology utilized the GAAP tax expense with immaterial adjustments in the calculation of non-GAAP net income, which made the metric subject to inter-quarter adjustments of tax expense and added complexity to the forecast of tax expense in future periods. The Company’s new methodo
Aug 3, 2023
docn-202307280001582961false00015829612023-07-282023-07-28
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 28, 2023
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition. On August 3, 2023, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2023. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 4.02 Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review. On July 28, 2023, the Audit Committee (the “Audit Committee”) of the Board of Directors of the Company, in consultation with management, determined that the Company’s previously issued unaudited condensed consolidated financial statements for the three months ended March 31, 2023, as included in the Company’s Quarterly Report on Form 10-Q for the three months ended March 31, 2023 filed with the Securities and Exchange Commission (the “SEC”) on May 9, 2023 (the “First Quarter 2023 10-Q”) should no longer be relied upon due to the discovery, in the course of preparing the Company’s interim financial statements for the fiscal quarter ended June 30, 2023, of errors in the Company’s accounting for income tax expense primarily relating to the calculation of certain capitalized research or experimental expenditures under Section 174 of the Internal Revenue Code of 1986, which impacted the Company’s income tax provision ("Section 174 Error"). Primarily as a result of the Section 174 Error, accrued taxes as of March 31, 2023 were overstated and the income tax expense for the three months ended March 31, 2023 was overstated by approximately $18 million. Additionally, the Company is correcting other immaterial errors. The correction of these errors will reduce the Company’s net loss and net loss per share attributable to common stockholders for the three months ended March 31, 2023. The Company intends to file an amendment to the First Quarter 2023 10-Q, which will include restated unaudited condensed consolidated financial statements for the three months ended March 31, 2023. The restatement of these financial statements does not impact the Company’s reported revenue or net cash provided by operating activities for the three months ended March 31, 2023. Any previously issued or filed reports, press releases, earnings releases, and investor presentations or other communications describing the Company’s condensed consolidated financial statements, financial res
Jul 6, 2023
docn-202307060001582961false00015829612023-07-062023-07-06
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): July 6, 2023
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition. Acquisition of Paperspace Co.
On July 6, 2023, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing the closing of the acquisition of Paperspace Co., a Delaware corporation (“Paperspace”), by DigitalOcean, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Under the terms of the transaction, the Company acquired Paperspace for $111 million in cash, subject to customary purchase price adjustments. The acquisition is expected to have an immaterial impact on the Company’s 2023 financial results. On its Q2 2023 earnings call on August 3, 2023, the Company will share more details on the strategic benefits of the acquisition and update the Company’s financial outlook for 2023.
Q2 2023 Financial Guidance
The Company reaffirms the previously issued guidance for the second quarter of 2023, as stated in the Company’s press release, furnished as Exhibit 99.1 to the Company’s Form 8-K filed on May 9, 2023 with the SEC, with respect to revenue, and expects to exceed the guidance for both adjusted EBITDA margin and non-GAAP diluted net income per share.
These preliminary financial results are subject to revision in connection with the Company’s financial closing procedures and finalization of the Company’s condensed consolidated financial statements for the quarter ended June 30, 2023. Actual results for the fiscal quarter ended June 30, 2023 may differ from these preliminary results.
Stock Repurchase Program
The Company previously announced a stock repurchase program on February 16, 2023, which authorized the Company to repurchase up to $500 million of its common stock (the “Program”). As of June 30, 2023, the Company had repurchased shares under the Program for an aggregate purchase price of approximately $370 million, consisting of the repurchase of 10,570,732 shares of common stock at an average price of $35.00 per share. The shares have been repurchased pursuant to 10b5-1 plans adopted by the Company. The Company had approximately 88.6 million shares of common stock outstanding as of June 30, 2023.
This Current Report on Form 8-K may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements may be identified by their use of terms and phrases such as “anticipate,” “enable,” “expect,” “will,” “believe,” “continue” and other similar terms and phrases. The outcome of the events described in these forward-looking statements is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materi
May 9, 2023
docn-202305030001582961false00015829612023-05-032023-05-03
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): May 3, 2023
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On May 9, 2023, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2023. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 3, 2023, the Company and Adrienne Calderone, the Company’s Chief Accounting Officer, agreed that, following a brief transition period, Ms. Calderone will no longer be employed by the Company and will no longer hold any offices with the Company. W. Matthew Steinfort, the Company’s Chief Financial Officer, will serve as the Company’s interim Chief Accounting Officer until a replacement has been appointed. Mr. Steinfort will not receive any additional compensation for assuming the role of interim Chief Accounting Officer.
W. Matthew Steinfort has served as the Company’s Chief Financial Officer since January 2023. From September 2017 to December 2022, Mr. Steinfort served as the Chief Financial Officer of Zayo Group Holdings, Inc., a provider of telecommunications infrastructure services, and, prior to serving in such capacity, Mr. Steinfort served as the Executive Vice President, Corporate Strategy, Development and Administration at Zayo from November 2016 to September 2017. From February 2006 to November 2016, Mr. Steinfort served as Co-Founder and Chief Executive Officer of Envysion, Inc., a video intelligence SaaS company, where he also served on the board of directors from January 2013 until its merger with Motorola Solutions, Inc. in November 2021. Previously, Mr. Steinfort was the Senior Vice President of Corporate Strategy at ICG Communications, a communications company that provides data and voice services, and held a variety of vice president roles at Level 3 Communications, an internet and telecommunications provider. Earlier in his career, Mr. Steinfort held positions at management consultancy Bain & Company and IT consultancy Cambridge Technology Partners. Mr. Steinfort received a B.S.E. in Civil Engineering and Operations Research from Princeton University and an M.B.A. from the MIT-Sloan School of Management.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description 99
Feb 16, 2023
docn-202302160001582961false00015829612023-02-162023-02-16
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): February 16, 2023
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition
On February 16, 2023, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended and year ended December 31, 2022. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 2.05 Costs Associated with Exit or Disposal Activities
On January 27, 2023, the Board of Directors of the Company approved a restructuring plan to adjust its cost structure and accelerate its timeline to achieve greater than 20% free cash flow margins (the “Restructuring Plan”). The Restructuring Plan includes both the elimination of positions across the Company as well as the shifting of additional positions across a broader geographical footprint over the next several months. As a result of these headcount actions, the Company’s total employee base will be reduced by approximately 11%.
The Company estimates that it will incur approximately $25 million to $27 million in restructuring charges in connection with the Restructuring Plan, consisting of (i) approximately $22 million to $23 million in cash expenditures for employee transition, notice period and severance payments, and employee benefits, and (ii) approximately $3 million to $4 million in stock-based compensation. The Company expects that the majority of the restructuring charges will be incurred in the first half of 2023 and that the execution of this Restructuring Plan, including cash payments, will be substantially complete by the end of the third quarter of 2023. The foregoing estimates of the charges the Company expects to incur under the Restructuring Plan are subject to assumptions, including application of local legal requirements in various jurisdictions, and actual charges may differ from such estimates.
The Company intends to exclude the charges associated with the Restructuring Plan from its non-GAAP financial measures, including Adjusted EBITDA and free cash flow.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained in this release and the accompanying earnings call referenced in this release are subject to known and unknown risks, uncertainties, assumptions, and other factors that
Nov 7, 2022
docn-202211070001582961false00015829612022-11-072022-11-07
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (date of earliest event reported): November 7, 2022
DigitalOcean Holdings, Inc. (Exact name of registrant as specified in its charter)
Delaware 001-4025245-5207470
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)
101 6th Avenue New York New York 10013
(Address of Principal Executive Offices) (Zip Code)
(646) 827-4366 Registrant's telephone number, including area code
Not Applicable (Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, par value $0.000025 per shareDOCNThe New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition
On November 7, 2022, DigitalOcean Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2022. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
This information is intended to be furnished under Item 2.02 and Item 9.01 of Form 8-K, “Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
Exhibit No.Description 99.1Press release issued by DigitalOcean Holdings, Inc. dated November 7, 2022.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:November 7, 2022DigitalOcean Holdings, Inc. By:/s/ William Sorenson William Sorenson, Chief Financial Officer
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