DigitalOcean(US:DOCN)2024-11-04 13:53Financial Performance - Revenue for Q3 2024 reached $198.5 million, a 12% year-over-year increase compared to $177.1 million in Q3 2023[7] - ARR reached $798.3 million, also reflecting a 12% year-over-year growth from $713.3 million in Q3 2023[7] - Adjusted EBITDA margin improved to 44% in Q3 2024, a 100 bps increase from 43% in Q3 2023[7] - Non-GAAP diluted net income per share increased by 18% to $0.52 in Q3 2024, compared to $0.44 in Q3 2023[7] - ARPU increased by 11% to $102.51 in Q3 2024, up from $92.06 in Q3 2023[7] Customer Metrics - Total customers reached 638,000[14] - Scalers' ARPU is $2,153, with 10% customer growth and 19% ARR growth[14] - Builders' ARPU is $138, with 5% customer growth and 7% ARR growth[14] - Learners' ARPU is $15, with 1% customer growth and 0% ARR growth[14] Market Opportunity - The market opportunity for Individuals and Companies with <500 Employees IaaS is large and rapidly growing[9] - The market is projected to reach $213 billion by 2027[9] - The market is experiencing a 23% CAGR[9] Financial Outlook - The company projects revenue between $775 million and $777 million for FY 2024[23] - The company projects adjusted EBITDA margin between 40% and 41% for FY 2024[23] - The company projects non-GAAP diluted net income per share between $1.70 and $1.75 for FY 2024[23]