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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 192M | 4.2% |
| Gross Profit | 117M | 4.7% |
| Cost of Revenue | 75M | 3.4% |
| Operating expense | 95M | 5.5% |
| Net Income | 19M | 35.4% |
| EBITDA | 55M | 27.6% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 1.54B | 3.4% |
| Total Liabilities | 1.79B | 1.1% |
| Shares Outstanding | 92M | 0.5% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 71M | 7% |
| Cash from investing | -34M | 174% |
| Cash from financing | -13M | 15.1% |
EPS
Financial Highlights for DigitalOcean in Q2 '24
DigitalOcean reported a revenue of 192M, which is a 4.2% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 117M, marking a 4.7% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 75M, a 3.4% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 95M, showing a -5.5% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 19M, showing a 35.4% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 55M, showing a 27.6% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for DigitalOcean with growth in revenue, gross profit, and net income.
