2023-05-09 07:03:40 ET
- DigitalOcean press release ( NYSE: DOCN ): Q1 Non-GAAP EPS of $0.28 misses by $0.01 .
- Revenue of $165.13M (+29.7% Y/Y) beats by $1M .
- Annual Run-Rate Revenue ended the quarter at $669.1 million, representing 28% year-over-year growth.
- Gross profit of $93.3 million or 56% of revenue.
- Adjusted EBITDA was $56.2 million and adjusted EBITDA margin was 34%.
- Cash, cash equivalents, and marketable securities was $613 million as of March 31, 2023.
- Net Dollar Retention Rate was 107% as compared to 117% in the first quarter 2022.
- Average Revenue Per Customer was $88.35, an increase of 16% over the first quarter 2022.
- Builders and Scalers, those customers spending more than $50 per month, increased 43% from the first quarter 2022 and their revenue grew 32% year-over-year.
- Repurchased 7,759,973 shares for $266 million under the share repurchase program.
- Q2 Outlook: Total revenue of $169.5 to $170.5 million.
- Adjusted EBITDA margin of 37% to 38%.
- Non-GAAP diluted net income per share of $0.40 to $0.41.
- Fully diluted weighted average shares outstanding of approximately 103 million shares.
- 2023 Outlook: Total revenue of $700 to $720 million.
- Adjusted EBITDA margin of 38% to 39%.
- Adjusted free cash flow margin in the range of 21% to 22% of revenue.
- Non-GAAP diluted net income per share of $1.70 to $1.73.
- Fully diluted weighted average shares outstanding of approximately 103 to 105 million shares
- Shares +0.84% PM.
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DigitalOcean Non-GAAP EPS of $0.28 misses by $0.01, revenue of $165.13M beats by $1M