DigitalOcean Holdings (DOCN) FY2023 results: revenue $693 million, up 20.2% on the year
DigitalOcean Holdings, Inc. (DOCN) reported revenue of $693 million for fiscal 2023, the year ended 31 December 2023, up 20.2% on the year before. Net income was $19 million, and diluted earnings per share $0.20. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2024.
Revenue
$693 million
+20.2% on the year
FY2019FY2023
Operating margin
1.7%
-4.5% a year earlier
FY2019FY2023
Net income
$19 million
FY2019FY2023
Diluted EPS
$0.20
FY2019FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
235
195
133
+20.4%
Capital expenditure
119
106
97.1
+12.1%
Free cash flow
116
88.8
36.0
+30.3%
Free cash flow margin
16.7%
15.4%
8.4%
Cash from investing
401
-1,148
-114
Cash from financing
-469
-610
1,593
Depreciation and amortisation
118
102
88.4
+15.3%
Share-based compensation
88.3
106
61.6
-16.5%
Buybacks
488
600
350
-18.6%
Diluted shares, weighted
96m
101m
93m
-4.4%
Shares outstanding at period end
90m
97m
107m
-6.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
-314
47.6
578
Redeemable equity
0.0
0.0
0.0
Debt
1,478
1,470
1,463
+0.5%
Operating lease liabilities
91.2
108
0.0
-15.4%
Finance lease liabilities
4.5
n/a
n/a
Other liabilities
201
190
60.1
+5.7%
Total liabilities and equity
1,461
1,816
2,101
-19.5%
Fixed assets
305
273
250
+11.8%
Goodwill
348
315
32.2
+10.5%
Intangible assets
140
119
42.9
+17.8%
Investments
94.5
723
0.0
-86.9%
Cash and equivalents
317
141
1,713
+125.4%
Receivables
62.2
53.8
39.6
+15.5%
Other assets
193
191
23.3
+1.3%
Total assets
1,461
1,816
2,101
-19.5%
10-K for the year ended 31 December 2023, filed 21 February 2024: the filing.