DigitalOcean Holdings, Inc. (DOCN) stock surged 5.05% in the pre-market trading session on Wednesday, following the company's impressive fourth-quarter 2024 earnings report and upbeat guidance for the year 2025.
The cloud computing service provider reported accelerated revenue growth of 13% year-over-year in Q4 2024, reaching $205 million. Notably, the company's Net Dollar Retention (NDR) improved to 99%, indicating better customer retention and expansion. Additionally, DigitalOcean's Scaler Plus Revenue, a critical driver for growth, increased by a substantial 37% year-over-year and contributed 22% of total revenue.
The company's AIML (Artificial Intelligence and Machine Learning) platform exceeded growth expectations, with an impressive over 160% ARR (Annual Recurring Revenue) growth, showcasing strong adoption and potential. Furthermore, DigitalOcean maintained robust Adjusted EBITDA margins of 42% for both Q4 and the full year, demonstrating effective cost management.
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