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DigitalOcean Holdings supplies the computing resources that growing technology companies and individual developers use to run websites, build applications and deliver AI products. Customers can deploy virtual machines called Droplets, use managed databases and hosting, and access GPU computing and AI agents through Gradient AI Agentic Cloud. Most customers sign up through self-service; sales teams also help businesses move workloads from other cloud providers.
Customers pay mainly for what they use. Most use the platform month to month, while some larger customers commit to minimum spending under contracts. Higher-spending customers, which DigitalOcean calls Digital Native Enterprises, collectively supply most revenue, but the company has no material concentration in a single customer. Revenue depends on retaining customers and their continued or increased usage; most can reduce usage or leave without advance notice.
DigitalOcean runs its services in leased third-party data centers, making reliable facilities, connectivity and sufficient capacity essential to delivery. Sanctions and export controls restrict whom it can serve, while data-localization and cross-border transfer rules constrain where it can process and move customer data.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
DigitalOcean’s results hinge on customers expanding their cloud usage and choosing it over giant cloud providers and specialists—including privately held Vultr and Hetzner, which are absent from this list.
Akamai’s Linode competes directly with DigitalOcean for developers’ and growing businesses’ spending on computing power, storage and networking. Watch Akamai’s Cloud Infrastructure Services, where it concentrates most of its strategic investment, rather than its security or delivery offerings.
Amazon’s AWS competes with DigitalOcean for businesses paying to run applications, rent computing power and store data. AWS segment results are the relevant comparison for DigitalOcean, not Amazon’s retail businesses.
CoreWeave competes with DigitalOcean for customers paying for GPU computing and managed platforms to run AI models, including generating responses through inference. Watch CoreWeave’s offerings for enterprises, AI labs and technology companies deploying AI at scale—the customer group its specialized AI platform serves.
Nebius Group competes with DigitalOcean for customers buying GPU computing, storage and managed tools to train AI models and run them for inference. Its on-demand AI cloud, which can expand from one node to thousands, is the offering to watch as customers scale their workloads.
Microsoft’s Azure competes with DigitalOcean to supply application developers and technology businesses with computing infrastructure and tools to build and run applications. Microsoft’s stated cloud cost advantages from large datacenters and pooled customer demand matter to this contest, where DigitalOcean emphasizes simplicity for growing technology companies.
Alphabet’s Google Cloud competes with DigitalOcean for technology businesses paying to host applications, databases and AI workloads. Google Cloud’s separately reported results are the part to watch, rather than Google Services’ advertising revenue.
Cloudflare’s Workers developer platform competes with DigitalOcean’s application platform for developers paying to run applications and the data services those applications use.
Oracle’s cloud infrastructure competes with DigitalOcean for customers paying to run computing, database and AI workloads, though Oracle is more enterprise-oriented. The distinction to watch is DigitalOcean’s focus on making cloud services simple and approachable for growing technology companies.
DigitalOcean Holdings, Inc. earningsThis company
DigitalOcean charges customers for what they use, and this report will show whether larger customers keep adding cloud usage—and whether that usage leaves a profit.
Read Digital Native Enterprise (DNE) customer revenue growth alongside annual net dollar retention and gross margin. Net dollar retention tracks how spending by existing customers changes after expansions, cutbacks, and churn. Growing DNE revenue, retention above 100%, and steady gross margin would show that established customers are adding usage without much pressure on profitability; weaker DNE revenue or retention alongside a falling margin would point to less dependable usage growth or higher costs absorbing its benefit.
Akamai Technologies Inc earningsAKAM
Akamai’s cloud infrastructure business competes with DigitalOcean for developers’ and growing businesses’ cloud spending, so its results will show how demand and competition are developing in that market.
Focus on revenue from Akamai’s Cloud Infrastructure Services, not its security or delivery businesses. Faster growth would show that businesses are still buying comparable computing, storage, and networking services, while also showing Akamai winning more of that spending; DigitalOcean’s own usage and retention would show whether it shares in the demand. Slower growth would point to a tougher backdrop for this cloud spending, but would not by itself mean DigitalOcean is taking Akamai’s customers.
Cloudflare, Inc. earningsNET
Cloudflare’s Workers developer platform competes with DigitalOcean’s application platform, and its report will show whether developers are putting more workloads on that alternative.
Look for Cloudflare’s discussion of Workers and developer-platform adoption, along with signs of growth in the related business. More application deployments and data-service use would show that an alternative to DigitalOcean’s application platform is attracting workloads, making those developers harder for DigitalOcean to win; limited adoption would make this competitive signal weaker, but would not establish that DigitalOcean is winning customers.
CoreWeave, Inc. earningsCRWV
CoreWeave sells GPU computing and managed platforms for large AI workloads, competing with DigitalOcean’s AI cloud for customers; its results will show how that demand and competition are developing.
Read CoreWeave’s AI-business growth alongside its progress expanding computing capacity. Rising customer spending and continued expansion would point to strong AI workload demand, while showing that this specialized rival is attracting customers and competing for GPUs; DigitalOcean would still need to show through its own customer usage and revenue that it is sharing in that demand. Slower growth or constrained expansion could mean less immediate pressure from CoreWeave, but would not mean DigitalOcean is gaining those customers.
