Digitalocean Hldgs Inc Stock Price, News & Analysis

DigitalOcean Holdings (NYSE: DOCN) released findings from its Currents report, highlighting that while 52% of traditional SMBs view the cloud as essential, 43% lack full-time technical staff. The report shows that 50% of non-tech SMBs adopted cloud solutions during the pandemic, with barriers such as cost (19%) and time management (12%) hindering further adoption. The study reveals a significant knowledge gap in cloud concepts between traditional SMBs and enterprises and suggests a need for simpler cloud solutions tailored for traditional SMBs.

DigitalOcean Holdings, Inc. (NYSE: DOCN) priced its offering of $1.3 billion in 0% convertible senior notes due 2026, set to settle on November 18, 2021. The notes are non-interest bearing and have a conversion rate of 5.6018 shares per $1,000, equivalent to a conversion price of $178.51, marking a 50% premium over the stock's last sale price of $119.01. The company aims to use $350 million of the net proceeds for share repurchases and the remainder for general corporate purposes. Noteholders may convert after July 1, 2026, and the offering is exempt from registration under the Securities Act.

DigitalOcean announced a proposed private offering of $900 million in convertible senior notes due 2026. The company may grant initial purchasers an option for an additional $135 million in notes. The notes will mature on December 1, 2026, and can be converted into cash, stock, or a mix. About $300 million of proceeds will be used for stock repurchases, which may impact stock prices. Remaining funds will support general corporate purposes, including potential acquisitions. The notes won't be registered under the Securities Act.

DigitalOcean (NYSE: DOCN) has announced its participation in several virtual investor events. Key dates include the Exane BNPP 4th Silicon Valley Tech Tour on November 10, 2021, Wells Fargo's 5th Annual TMT Summit on December 1, 2021, the UBS Global TMT Virtual Conference on December 6, 2021, and the Barclays Global TMT Conference on December 8, 2021. For detailed information about presentation times and webcast availability, please visit the company's investor relations website.

DigitalOcean Holdings, Inc. (NYSE: DOCN) reported a strong third quarter for 2021, with revenue hitting $111.4 million, marking a 37% year-over-year growth. The company's Annual Run-Rate Revenue reached $455 million, up 36% year-over-year. Notably, the Net Dollar Retention Rate improved to 116%, while the Average Revenue Per Customer increased by 28% to $61.97. Despite a GAAP net loss of $(0.02) per share, adjusted EBITDA rose to $36.4 million with a margin of 33%. The company expects fourth-quarter revenue between $117 to $119 million.

DigitalOcean Holdings (NYSE: DOCN) will host a free virtual conference, deploy, on November 16-17, 2021, starting at 11 a.m. EST. This event aims to explore the essentials of becoming cloud-native for developers, startups, and SMBs. Attendees will learn about cloud-native basics and advanced operational practices in areas like logging, security, and monitoring. The conference features product demos and insights from various technology teams, highlighting the pivotal role of software developers in strategic cloud transformation.

DigitalOcean Holdings (NYSE:DOCN) has appointed Gabe Monroy as chief product officer to lead its product management organization. Monroy, with extensive experience from Microsoft Azure and a strong background in open source technologies, aims to enhance DigitalOcean's product vision. CEO Yancey Spruill highlighted Monroy's leadership as vital for driving growth towards the company's target of $1 billion in revenue by 2024. Monroy is passionate about serving developers, startups, and small businesses, addressing their historically underserved needs.

DigitalOcean (NYSE: DOCN) will announce its third quarter financial results for the period ending September 30, 2021, on November 4, 2021, before the market opens. A conference call is scheduled for 8:00 AM ET to discuss these results and provide financial outlooks. Interested parties can join the call by dialing the respective numbers for the U.S. or international lines. A replay will be available until November 11, 2021. DigitalOcean focuses on simplifying cloud computing for developers and businesses, enabling them to accelerate application development and innovation.