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Home > Cloud Computing > DigitalOcean announced financial results for Q2

DigitalOcean announced financial results for Q2

Cloud for developers, startups, and SMBs, DigitalOcean announced the financial results for the second quarter ended June 30.


Erdem Yasar Erdem Yasar
August 9, 2021
2 min read
DigitalOcean announced financial results for Q2

DigitalOcean announced results for its second quarter ended June 30. According to the announcement, revenue grew 35% to $103.8 million and ARR Increased to $426 million, up 36% year-over-year. During the quarter, the company also announced Managed MongoDB, a new, fully-managed database as a service offering.

Q2 financial highlights

  • Revenue was $103.8 million, an increase of 35% year-over-year.
  • Annual Run-Rate Revenue (ARR) ended the quarter at $426 million, an increase of 36% year-over-year.
  • GAAP Gross Profit of $60.7 million or 58% of revenue and adjusted Gross Profit of $81.1 million or 78% of revenue.
  • Loss from operations was $2.6 million and operating margin was (3)% as compared to income from operations of $1.8 million and operating margin of 2% in the prior year period.
  • Adjusted EBITDA was $31.4 million and adjusted EBITDA margin was 30% of revenue as compared to adjusted EBITDA of $23.9 million and adjusted EBITDA margin of 31% in the prior year period.
  • Capital expenditures were $26.0 million or 25% of revenue as compared to $30.8 million or 40% of revenue in the prior year period.
  • Cash, cash equivalents, and restricted cash were $579.4 million with zero debt as of June 30, 2021.
Yancey Spruill, CEO of DigitalOcean
Yancey Spruill, CEO of DigitalOcean

Yancey Spruill, CEO of DigitalOcean said,

“We had an outstanding second quarter with strong revenue growth acceleration and continued improvement in our capital efficiency. We are excited about the progress we have made in leveraging simplicity across our business to better serve our customers and believe we have a path to a durable 30%+ growth rate for 2021 and next year. Adding to the strong quarter, we introduced Managed MongoDB which will continue to drive the revenue growth from our managed service offerings.”

See more Cloud Computing News


Tags: DigitalOcean
Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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