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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
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DigitalOcean
DigitalOcean (DOCN) investor relations material
DigitalOcean Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary24 Feb, 2026
Executive summary
Achieved 18% revenue growth in Q4 2025, with full-year revenue reaching $901 million and surpassing a $1 billion run rate in December 2025, driven by top customer growth and AI-native adoption.
AI-native and cloud-native customers are the fastest-growing cohort, with $133 million in ARR from million-dollar customers, up 123% year-over-year.
AI customer ARR reached $120 million in Q4, growing 150% year-over-year, now 12% of total ARR, with over 70% from inference and core cloud products.
Top customers are now the primary growth engine, with 0% churn in the $1 million+ ARR cohort over the last 12 months and significant incremental ARR contribution.
Company is positioned as a vertically integrated AI cloud platform, not just a GPU provider, serving production AI workloads at scale.
Financial highlights
Q4 2025 revenue was $242 million, up 18% year-over-year; full-year revenue was $901 million.
Q4 gross profit was $142 million (59% margin); full-year gross profit was $540 million (60% margin).
Q4 adjusted EBITDA was $99 million (41% margin); full-year adjusted EBITDA was $375 million (42% margin).
GAAP diluted net income per share was $0.24 for Q4 and $2.52 for the year, up 183% year-over-year.
Adjusted free cash flow for 2025 was $168 million (19% margin); year-end cash and equivalents were $254 million.
Outlook and guidance
2026 revenue guidance raised to $1.075–$1.105 billion, representing 19.3%–22.6% growth, with an exit growth rate of 25%+ in Q4 2026 and 30% in 2027.
Q1 2026 revenue expected at $249–$250 million (18–19% growth); adjusted EBITDA margin 36–37%.
Full-year 2026 adjusted EBITDA margin projected at 36–38%; adjusted free cash flow margin at 15–17%; unlevered adjusted free cash flow margin at 18–20%.
Guidance based on committed 31 MW incremental data center capacity coming online in 2026.
Near-term margin pressure expected due to timing of new capacity ramp, but margins projected to recover as utilization increases.
AI customer ARR contribution to 2026 growth?
DC expansion impact on Q1/Q2 2026 margins?
Bare metal wind-down's strategic and ARR impact?
Explain AI customer ARR source differentiation
Assess impact of customer redefinition on growth
Detail path to 2027 weighted Rule of 50 company
What drives 70% non-bare metal AI customer ARR?
Detail short-term net leverage increase drivers.
How will open source models impact inference market?
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Next DigitalOcean earnings date
Morgan Stanley Technology, Media & Telecom Conference 20263 Mar, 2026
DigitalOcean
Next DigitalOcean earnings date
Morgan Stanley Technology, Media & Telecom Conference 20263 Mar, 2026
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Frequently asked questions
DigitalOcean Holdings, Inc. a technology company, operates a cloud computing platform world wide. Its cloud computing platform provides virtual private servers; and block storage volumes to store data in the cloud, as well as solutions that include load balancers to distribute customers' traffic between multiple virtual private servers, Managed Databases to run databases on customers' choice of engine or framework, and Object Storage that allows customers to build applications with custom workflows and APIs that work with their own tools and processes. The firm offers solutions for developers, startups, and SMBs.
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