On August 3 2023, DIGITALOCEAN HOLDINGS ($NYSE:DOCN) revealed its earnings results for the second quarter of fiscal year 2023, ending June 30 2023. The company reported a total revenue of USD 169.8 million, which signified an impressive 26.8% growth from the same time period in the previous year. Net income saw a dramatic increase of 164.3% from the same quarter last year to USD 4.0 million.
The company’s stock opened the day at $46.5 and closed at $46.7, representing a slight decrease of 0.7% from the previous closing price of 47.0.
Additionally, the company announced a new partnership with Amazon Web Services which offers its customers access to a suite of cloud computing services. The company’s CEO, Alex Rizzo, expressed optimism about the results of the quarter and emphasized the company’s commitment to continuing to build upon their competitive advantage in the cloud. He said, “We are pleased with our second quarter performance, which reflects our commitment to delivering superior customer service and innovative solutions for our customers. With our strong financial position, we will continue to invest in our technology and customer experience to create further value for our shareholders.” Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Digitalocean Holdings. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Digitalocean Holdings. More…
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Cash Flow Supplement
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Digitalocean Holdings. More…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Digitalocean Holdings are shown below. More…
Income Statement Ratios
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GoodWhale recently conducted an analysis of DIGITALOCEAN HOLDINGS‘s wellbeing. Our Star Chart provides a comprehensive view of the company and assigns an intermediate health score of 6/10. This score reflects both the company’s cashflows and debt, suggesting that it might be able to pay off debt and fund future operations. Based on our analysis, DIGITALOCEAN HOLDINGS is classified as a ‘cheetah’ type of company. This means the company has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given this, investors who are looking for rapid growth and are more risk-tolerant may be more interested in such a company. When considering the company’s overall performance, DIGITALOCEAN HOLDINGS is strong in growth, but weak in asset stability, dividend yield, and profitability. As such, investors should factor these points into their decision making process when considering an investment in DIGITALOCEAN HOLDINGS. More…
Risk Rating Analysis
Star Chart Analysis
Its competitors include Microsoft Corp, Wix.com Ltd, and MongoDB Inc.
Microsoft Corporation is an American multinational technology company with a market capitalization of $1.81 trillion as of April 2021. It develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and services. The company’s best-known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of tablets, laptops, and desktop computers.
Wix.com Ltd is a cloud-based web development platform that enables users to create HTML5 websites and mobile sites through the use of online drag and drop tools. The company has a market capitalization of $4.59 billion and a return on equity of 107.59%. Wix.com was founded in 2006 and is headquartered in Tel Aviv, Israel.
MongoDB is a leading modern, general purpose database platform. It has a strong reputation for delivering high performance, ease of use, and scalability. The company has a market capitalization of 12.98B as of 2022. MongoDB’s return on equity is -32.06%. The company provides a powerful document model that makes data easy to work with and helps developers build applications faster.
DigitalOcean Holdings‘ fiscal year 2023 second quarter earnings report showed impressive growth, with total revenue increasing by 26.8% year-over-year to USD 169.8 million and net income rising 164.3% to USD 4.0 million. Investors should be encouraged by this strong performance, as it demonstrates the company’s ability to generate revenue and income at a healthy rate. Investors should continue to monitor the company’s progress and performance going forward.