DigitalOcean reports Q1 EPS 56c, consensus 44c

Reports Q1 revenue $210.7M, consensus $208.63M. “The momentum we generated in 2024 in both core cloud and AI continued into Q1, as we grew total revenue 14% year-over-year, our highest quarterly growth rate since Q3 2023, with AI ARR continuing to grow north of 160% year-over-year, and we delivered more than 50 new product features, over 5 times as many as we delivered in Q1 of last year.” said Paddy Srinivasan, CEO of DigitalOcean (DOCN). “The strong execution of our strategy, with product innovation and go-to-market efforts focused on digital native enterprises, drove revenue from $100K+ ARR customers up 41% year over year and to 23% of total revenue. We continue to make clear progress executing our plan, solidifying our leading position as the simple, scalable and approachable Cloud.”