DigitalOcean Holdings, Inc. reported strong financial results for Q4 and full-year 2024, with revenue reaching $205 million for the quarter (up 13% year-over-year) and $781 million for the full year (also up 13%). Net income for 2024 increased 335% to $84 million, with an 11% margin, while adjusted EBITDA grew 19% to $328 million at a 42% margin.

In Q4, the company released over four times as many products and features as the same period in 2023, increasing net dollar retention to 99%. Revenue from its top 500+ customers, representing 22% of total revenue, grew 37% year-over-year. DigitalOcean also introduced AI-driven solutions, such as the GenAI Platform and Cloudways Copilot, and enhanced security features for its cloud offerings.

For the full year, DigitalOcean launched 125 new products, including GPU droplets for NVIDIA H100 instances and global load balancing. The company continued its stock repurchase program, returning $57 million to shareholders in 2024, bringing total repurchases to $1.5 billion since its IPO.

source: DigitalOcean Holdings, Inc., February 25, 2025.