DigitalOcean Holdings, Inc 10-K for FY2022

DigitalOcean Holdings, Inc. (DOCN)

10-K 2023-02-22 For: 2022-12-31

Added on April 08, 2026

About this 10-K

DigitalOcean Holdings, Inc filed this 10-K on February 22, 2023, covering the fiscal year ended December 31, 2022 (FY2022).

Headline figures

Fiscal year ended December 31, 2022, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $576.32M; up 34.5% from $428.56M a year earlier
Net loss: $24.28M; compared with a net loss of $19.5M a year earlier
Diluted EPS: -$0.24; compared with -$0.21 a year earlier

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Title of each class	Trading Symbol	Name of each exchange on which registered
Common stock, par value $0.000025 per share	DOCN	The New York Stock Exchange


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐


TABLE OF CONTENTS

PART I
		Page
Item 1.	Business	4
Item 1A.	Risk Factors	16
Item 1B.	Unresolved Staff Comments	43
Item 2.	Properties	43
Item 3.	Legal Proceedings	44
Item 4.	Mine Safety Disclosures	44
PART II
Item 5.	Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	45
Item 6.	Reserved	46
Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	46
Item 7A.	Quantitative and Qualitative Disclosures About Market Risk	63
Item 8.	Financial Statements and Supplementary Data	65
Item 9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	105
Item 9A.	Controls and Procedures	105
Item 9B.	Other Information	106
Item 9C.	Disclosure Regarding Foreign Jurisdictions that Prevent Inspections	106
PART III
Item 10.	Directors, Executive Officers and Corporate Governance	107
Item 11.	Executive Compensation	107
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	107
Item 13.	Certain Relationships and Related Transactions, and Director Independence	107
Item 14.	Principal Accounting Fees and Services	107
PART IV
Item 15.	Exhibits, Financial Statement Schedules	109
Item 16.	Form 10-K Summary	112
	Signatures	113


	Year Ended December 31,
	2022			2021			2020

Learners	468,065			445,756			426,739
Builders	129,150			88,787			72,627
Scalers	15,032			10,568			7,624
ARPU	$	75.19		$	59.96		$	47.78
ARR (in millions)	$	659		$	490		$	357
Net dollar retention rate	115		%	113		%	103		%


	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Revenue	$	576,322	$	428,561	$	318,380
Cost of revenue(1)	211,927		170,595		145,532
Gross profit	364,395		257,966		172,848
Operating expenses:
Research and development(1)	143,885		115,684		74,970
Sales and marketing(1)	81,544		50,878		33,472
General and administrative(1)	165,185		102,590		80,197
Total operating expenses	390,614		269,152		188,639

Loss from operations	(26,219)		(11,186)		(15,791)
Other (income) expense	(1,812)		7,015		26,866
Loss before income taxes	(24,407)		(18,201)		(42,657)
Income tax (benefit) expense	(124)		1,302		911
Net loss attributable to common stockholders	$	(24,283)	$	(19,503)	$	(43,568)


	Years Ended December 31,
	2022		2021		$ Change		% Change

	(in thousands)
Revenue	$	576,322	$	428,561	$	147,761	34	%


	Year Ended December 31,
(In thousands except per share data)	2022		2021		2020
GAAP Net loss attributable to common stockholders	$	(24,283)	$	(19,503)	$	(43,568)
Stock-based compensation	105,829		61,577		29,456
Acquisition related compensation	9,443		—		—
Amortization of acquired intangible assets	6,301		671		304
Acquisition and integration related costs	5,439		469		—
Release of VAT reserve	—		(3,188)		—
Loss on extinguishment of debt	407		3,435		259
Impairment of long-lived assets	1,635		285		1,222
Restructuring and severance	—		—		4,213
Revaluation of warrants	—		(556)		12,825
Income tax effects of non-GAAP adjustments(1)	(34)		235		6
Non-GAAP Net income(2)	$	104,737	$	43,425	$	4,717
Non-GAAP Diluted net income per share(2)(3)	$	0.94	$	0.37	$	0.11
Weighted-average shares used to compute Non-GAAP diluted net income per share	118,178		118,028		41,658


Report of Ernst & Young LLP, Independent Registered Public Accounting Firm (PCAOB ID: 42)			66
Consolidated Balance Sheets as of December 31, 2022 and 2021			70
Consolidated Statements of Operations for the years ended December 31, 2022, 2021 and 2020			71
Consolidated Statements of Comprehensive Loss for the years ended December 31, 2022, 2021 and 2020			72
Consolidated Statements of Stockholders’ (Deficit) Equity for the years ended December 31, 2022, 2021 and 2020			73
Consolidated Statements of Cash Flows for the years ended December 31, 2022, 2021 and 2020			74
Notes to Consolidated Financial Statements			76


Description of the Matter			As described in Note 3 to the consolidated financial statements, on September 1, 2022, the Company acquired 100% of the outstanding equity interests of Cloudways Ltd. (Cloudways), for total consideration of $311,237 in cash. The transaction was accounted for as a business combination. Auditing the Company's accounting for its acquisition of Cloudways was complex due to the significant estimation required by management in determining the fair value of the intangible assets, which consisted of developed technology of $31,500, customer relationships of $31,000 and trade name of $9,500. The significant estimation uncertainty was primarily due to the complexity of the valuation models prepared by management to measure the fair value of the intangible assets and the sensitivity of the respective fair values to the significant underlying assumptions. The Company used the relief from royalty method to value the developed technology and the trade name intangible assets and the multi-period excess earnings method (MPEEM) to value the customer relationship intangible asset. The significant underlying assumptions included discount rates, projected revenue growth rates, EBITDA margins, technology obsolescence rates and royalty rates. These significant assumptions relate to the future performance of the acquired business, are forward looking and could be affected by future economic and market conditions.
How We Addressed the Matter in Our Audit			We obtained an understanding, evaluated the design and tested the operating effectiveness of controls over the Company’s valuation of acquired intangible assets. Our procedures included testing controls over the Company’s estimation process supporting the recognition and measurement of intangible assets, as well as controls over management’s judgments and evaluation of underlying assumptions regarding the valuations. Our audit procedures to test the estimated fair value of the intangible assets included, among others, evaluating the Company's valuation methodologies, and testing the significant assumptions used in the models, including the completeness and accuracy of the underlying data. We involved our valuation specialists to assist with our evaluation of the methodologies used by the Company as well as the significant assumptions included in the fair value estimates. For example, our valuation professionals performed independent comparative calculations to estimate the acquired business’s discount rate for the intangible assets. We also evaluated the acquired business’s projected revenue growth rate, EBITDA margins and technology obsolescence rates and evaluated the completeness and accuracy of the underlying data supporting these assumptions and the related estimates. Specifically, we compared the forecasted results to current industry, market and economic trends, to historical results of the acquired business and to other guideline companies within the same industry. We independently developed a range of royalty rates to be applied and compared them to the Company’s assumed royalty rates. We also performed analyses to evaluate the changes in fair value estimates that would result from modest changes in the significant assumptions.


	December 31, 2022		December 31, 2021
Current assets:
Cash and cash equivalents	$	140,772	$	1,713,387
Marketable securities	723,462		—
Accounts receivable, less allowance for credit losses of $6,099 and $4,212, respectively	53,833		39,619
Prepaid expenses and other current assets	28,485		17,050
Total current assets	946,552		1,770,056

Property and equipment, net	273,170		249,643
Restricted cash	1,935		2,038
Goodwill	313,718		32,170
Intangible assets, net	118,928		42,915
Operating lease right-of-use assets, net	154,501		—
Deferred tax assets	751		88
Other assets	6,353		4,085
Total assets	$	1,815,908	$	2,100,995

Current liabilities:
Accounts payable	$	21,138	$	12,657
Accrued other expenses	33,987		31,907
Deferred revenue	5,550		4,826

Operating lease liabilities, current	57,682		—
Other current liabilities	45,913		8,849
Total current liabilities	164,270		58,239

Deferred tax liabilities	18,209		421
Long-term debt	1,470,270		1,462,676
Operating lease liabilities, non-current	108,243		—
Other long-term liabilities	3,826		1,462
Total liabilities	1,764,818		1,522,798
Commitments and Contingencies (Note 9)



Preferred stock ($0.000025 par value per share; 10,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2022 and December 31, 2021)	—		—
Common stock ($0.000025 par value per share; 750,000,000 shares authorized; 96,732,507 and 109,175,863 issued; and 96,732,507 and 107,207,635 outstanding as of December 31, 2022 and December 31, 2021, respectively)	2		2
Treasury stock, at cost (0 shares at December 31, 2022 and 1,968,228 shares at December 31, 2021)	—		(4,598)
Additional paid-in capital	263,957		769,705
Accumulated other comprehensive loss	(2,048)		(374)
Accumulated deficit	(210,821)		(186,538)
Total stockholders’ equity	51,090		578,197

Total liabilities and stockholders’ equity	$	1,815,908	$	2,100,995


	Convertible Preferred Stock			Common Stock			Treasury Stock			Additional Paid-In Capital		Accumulated Other Comprehen-sive Loss		Accumulated Deficit		Total
	Shares	Amount		Shares	Amount		Shares	Amount
Balance at December 31, 2019	40,750,324	$	123,264	41,095,849	$	1	(1,968,228)	$	(4,598)	$	55,896	$	(112)	$	(123,467)	$	(72,280)
Issuance of common stock under stock option plan	—	—		4,203,490	—		—	—		13,905		—		—		13,905
Issuance of convertible preferred stock	4,721,905	49,810		—	—		—	—		—		—		—		—
Stock-based compensation	—	—		—	—		—	—		29,982		—		—		29,982
Other comprehensive loss	—	—		—	—		—	—		—		(133)		—		(133)
Net loss attributable to common stockholders	—	—		—	—		—	—		—		—		(43,568)		(43,568)
Balance at December 31, 2020	45,472,229	173,074		45,299,339	1		(1,968,228)	(4,598)		99,783		(245)		(167,035)		(72,094)
Issuance of common stock in connection with initial public offering, net of underwriting discounts and issuance costs	—	—		16,500,000	1		—	—		722,980		—		—		722,981
Issuance of common stock under equity incentive plan, net of taxes withheld	—	—		3,793,386	—		—	—		15,502		—		—		15,502
Issuance of common stock under employee stock purchase plan, net of taxes withheld	—	—		117,996	—		—	—		4,401		—		—		4,401
Issuance of common stock for acquisition	—	—		636,994	—		—	—		27,566		—		—		27,566
Exercise of common stock warrants	—	—		296,848	—		—	—		—		—		—		—
Conversion of redeemable preferred stock warrants to common stock warrants	—	—		—	—		—	—		13,906		—		—		13,906
Conversion of convertible preferred stock to common stock in connection with initial public offering	(45,472,229)	(173,074)		45,472,229	—		—	—		173,074		—		—		173,074
Repurchase and retirement of common stock	—	—		(2,940,929)	—		—	—		(350,000)		—		—		(350,000)
Stock-based compensation	—	—		—	—		—	—		62,493		—		—		62,493
Other comprehensive loss	—	—		—	—		—	—		—		(129)		—		(129)
Net loss attributable to common stockholders	—	—		—	—		—	—		—		—		(19,503)		(19,503)
Balance at December 31, 2021	—	—		109,175,863	2		(1,968,228)	(4,598)		769,705		(374)		(186,538)		578,197
Issuance of common stock under equity incentive plan, net of taxes withheld	—	—		2,894,748	—		—	—		(16,626)		—		—		(16,626)
Issuance of common stock under employee stock purchase plan, net of taxes withheld	—	—		256,718	—		—	—		7,925		—		—		7,925
Repurchase and retirement of common stock	—	—		(13,626,594)	—		—	—		(600,000)		—		—		(600,000)
Retirement of treasury stock	—	—		(1,968,228)	—		1,968,228	4,598		(4,598)		—		—		—


Stock-based compensation	—	—		—	—		—	—		107,551		—		—		107,551




Other comprehensive loss	—	—		—	—		—	—		—		(1,674)		—		(1,674)
Net loss attributable to common stockholders	—	—		—	—		—	—		—		—		(24,283)		(24,283)
Balance at December 31, 2022	—	$	—	96,732,507	$	2	—	$	—	$	263,957	$	(2,048)	$	(210,821)	$	51,090


Proceeds from issuance of term loan, net of issuance costs	—		—		168,531
Repayment of borrowings under revolving credit facility	—		(63,200)		(84,500)
Proceeds from borrowings under revolving credit facility, net of issuance costs	—		—		61,394
Payment of debt issuance costs	(1,520)		—		—


Proceeds related to the issuance of common stock under equity incentive plan	11,509		18,369		13,905
Proceeds from the issuance of common stock under employee stock purchase plan	7,926		4,970		—

Employee payroll taxes paid related to net settlement of equity awards	(28,278)		(3,187)		—
Proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs	—		724,384		(1,403)
Proceeds from the issuance of convertible preferred stock, net of issuance costs	—		—		49,810
Repurchase and retirement of common stock	(600,000)		(350,000)		—
Repayment of seller’s note	—		(125)		(125)
Net cash (used in) provided by financing activities	(610,363)		1,593,379		124,026

Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(249)		5		(200)
(Decrease) increase in cash, cash equivalents and restricted cash	(1,563,618)		1,612,888		66,651
Cash, cash equivalents and restricted cash - beginning of period	1,715,425		102,537		35,886
Cash, cash equivalents and restricted cash - end of period	$	151,807	$	1,715,425	$	102,537

Supplemental disclosures of cash flow information:
Cash paid for interest	$	475	$	2,344	$	12,398
Cash paid for taxes (net of refunds)	4,567		921		605
Non-cash investing and financing activities:
Capitalized stock-based compensation	$	1,722	$	916	$	526
Property and equipment received but not yet paid, included in Accounts payable and Accrued other expenses	15,689		12,968		17,928
Seller financed equipment purchases	—		—		3,927

Costs related to initial public offering included in accounts payable and accrued liabilities	—		27,566		—
Debt issuance costs included in accounts payable and accrued liabilities	—		400		—


	December 31,
	2022		2021
Cash and cash equivalents	$	140,772	$	1,713,387
Restricted cash included in Prepaid expenses and other current assets(1)	9,100		—
Restricted cash(2)	1,935		2,038
Total cash, cash equivalents and restricted cash	$	151,807	$	1,715,425


Property and Equipment Category						Useful Life
Computers and equipment						5 years
Furniture and fixtures						5 years
Leasehold improvements						Lesser of lease term or remaining useful life
Internal-use software						3 years


Total consideration:
Cash paid to Cloudways sellers	$	278,187
Cash contributed to escrow accounts	42,000
Other expenses	150
Less: Cash pre-funded from contingent compensation	(9,100)
Total consideration paid	$	311,237

Cash and cash equivalents	$	5,827
Accounts receivable	4,753
Prepayments and other current assets	1,295
Other long term assets	711
Identifiable intangible assets	72,000
Accounts payable	(1,820)
Accrued expenses	(957)
Deferred revenue	(1,013)
Deferred tax liabilities	(21,686)
Other current liabilities	(29,660)
Net identifiable assets acquired	29,450
Goodwill	281,787
Total fair value of net assets acquired	$	311,237


	December 31,
	2022		2021
United States	$	206,118	$	134,347
Singapore	60,607		23,520
Germany	50,274		28,824
Netherlands	35,951		26,979
Other	74,721		35,973
Total	$	427,671	$	249,643


	December 31,
	2022		2021
Asset Type
IP addresses	$	44,821	$	39,906
Developed technology	35,710		4,210
Customer relationships	31,000		—
Trade name	9,500		—
Content	4,400		—
Brand	1,000		—
Total carrying value	$	126,431	$	44,116
Accumulated Amortization
Developed technology	$	(4,477)	$	(1,201)
Customer relationships	(1,476)		—
Trade name	(317)		—
Content	(1,067)		—
Brand	(166)		—
Total accumulated amortization	(7,503)		(1,201)
Total intangible assets, net	$	118,928	$	42,915


2023	$	14,445
2024	14,079
2025	12,279
2026	11,879
2027	9,612
Thereafter	11,813
Total estimated future intangible amortization expense	$	74,107


	December 31, 2022
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. treasury securities	$	549,944	$	29	$	(849)	$	549,124
Corporate debt securities	35,293		—		(86)		35,207
Commercial paper	139,489		9		(367)		139,131
Total Marketable securities	$	724,726	$	38	$	(1,302)	$	723,462


Intangible assets	Preliminary Fair Value		Weighted Average Useful Life in Years
Trade name	$	9,500	10
Developed technology	31,500		5
Customer relationships	31,000		7
Total identifiable intangible assets	$	72,000


	Pro Forma Years Ended December 31,
		2022		2021
Pro-forma revenue		$	607,191	$	459,845
Pro-forma net loss		(20,780)		(53,227)


Balance at January 1, 2021	$	2,674
Acquisition of Nimbella	29,496
Balance at December 31, 2021	32,170
Acquisition of Cloudways	281,787
Measurement period adjustment(1)	(239)
Balance at December 31, 2022	$	313,718


	December 31, 2022
	Level I		Level II		Total
Cash and cash equivalents:
Cash	$	95,117	$	—	$	95,117
Money market funds	45,655		—		45,655


Total Cash and cash equivalents	$	140,772	$	—	$	140,772
Marketable securities:
U.S. treasury securities	$	549,124	$	—	$	549,124
Corporate debt securities	—		35,207		35,207
Commercial paper	—		139,131		139,131
Total Marketable securities	$	549,124	$	174,338	$	723,462


	December 31, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Convertible Notes	$	1,470,270	$	1,134,030	$	1,462,676	$	1,462,676


	Year Ended
	December 31, 2022
Operating lease expense	$	54,440
Variable lease expense	6,149
Short-term lease expense	1,799
Total lease expense	$	62,388


	Year Ended
	December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:	$	49,870
Operating right-of-use assets obtained in exchange for operating lease liabilities	204,905



	December 31, 2022
Weighted-average remaining lease term (in years)	2.8
Weighted-average discount rate	4.8	%



	Operating Leases(1)
2023	$	64,411
2024	68,376
2025	28,504
2026	12,003
2027	6,237

Total undiscounted liabilities	179,531
Less: Imputed interest	(13,606)
Total present value of lease liabilities	165,925
Less: Current portion of operating lease liabilities	(57,682)
Operating lease liabilities, non-current	$	108,243


2022	$	48,669
2023	37,961
2024	36,974
2025	7,447
2026	3,025
Thereafter	762
Total minimum operating lease payments	$	134,838


2023	$	21,951
2024	14,493
2025	4,045
2026	884
2027	957
Thereafter	—
Total purchase commitments	$	42,330


	Number of Options Outstanding	Weighted-Average Exercise Price		Weighted-Average Remaining Life in Years	Aggregate Intrinsic Value
Outstanding at January 1, 2022	12,434,159	$	7.19	7.64	$	909,494

Exercised	(1,816,561)	6.34
Forfeited or cancelled	(463,682)	9.50
Outstanding at December 31, 2022	10,153,916	7.23		6.16	185,188
Vested and exercisable at December 31, 2022	7,469,298	6.42		5.90	142,286
Vested and unvested expected to vest at December 31, 2022	9,662,316	$	7.03	6.11	$	178,144


Expected volatility	52.06	%
Expected life in years	6
Risk-free interest rate	0.57	%
Dividend yield	0	%


	Shares	Weighted-Average Fair Value
Unvested balance at January 1, 2022	3,334,137	$	45.74
Granted	3,338,073	43.57
Vested	(1,437,741)	45.46
Forfeited or cancelled	(432,034)	46.46
Unvested balance at December 31, 2022	4,802,435	44.25
Vested and expected to vest at December 31, 2022	3,116,642	$	44.50


Tranche	Company Stock Price Target	Number of Eligible MRSUs
1	$93.50	475,000
2	$140.00	575,000
3	$187.00	650,000
4	$233.50	650,000
5	$280.50	650,000


Expected volatility	46.27	%
Expected life in years	7
Risk-free interest rate	1.01	%
Dividend yield	0	%


	NOL Carryforward
	Total		1-3 Years		3-5 Years		More than 5 Years		Unlimited
Federal	$	171,852	$	—	$	—	$	25,550	$	146,302
State and local	258,957		—		690		222,451		35,816
Foreign	7,316		—		—		—		7,316
Total	$	438,125	$	—	$	690	$	248,001	$	189,434


	Incorporated by Reference
Exhibit No.	Exhibit Description	Form	File No.	Exhibit	Filing Date	Filed Herewith
2.1	Share Purchase Agreement, dated as of August 19, 2022, by and among DigitalOcean, LLC, Cloudways Ltd., each of the shareholders of Cloudways identified on the signature pages thereto and Shareholder Representative Services LLC.	8-K	001-40252	2.1	8/23/22
3.1	Amended and Restated Certificate of Incorporation of DigitalOcean Holdings, Inc.	8-K	001-40252	3.1	3/31/21
3.2	Amended and Restated Bylaws of DigitalOcean Holdings, Inc.	8-K	001-40252	3.2	3/31/21
4.1	Form of Common Stock Certificate.	S-1	333-253483	4.1	2/25/21
4.2	Indenture, dated as of November 18, 2021, between DigitalOcean Holdings, Inc. and U.S. Bank National Association as trustee.	8-K	001-40252	4.1	11/18/21
4.3	Form of certificate representing the 0% Convertible Senior Notes due 2026.	8-K	001-40252	4.2	11/18/21
4.4	Description of Capital Stock.	10-K	001-40252	4.4	2/25/22
10.1	Amended and Restated Investors’ Rights Agreement, dated as of May 8, 2020, by and among the Registrant and certain of its stockholders.	S-1	333-253483	10.1	2/25/21
10.2	DigitalOcean Holdings, Inc. 2013 Stock Plan, as amended.	S-1	333-253483	10.2	2/25/21
10.2.1	Form of Option Agreement, Notice of Stock Option Grant and Exercise Notice under 2013 Stock Plan.	S-1	333-253483	10.2.1	2/25/21
10.2.2	Form of Restricted Stock Unit Award Agreement under 2013 Stock Plan.	S-1	333-253483	10.2.2	2/25/21
10.3	DigitalOcean Holdings, Inc. 2021 Equity Incentive Plan.	S-1/A	333-253483	10.3	3/15/21
10.3.1	Form of Option Agreement, Notice of Stock Option Grant and Exercise Notice under 2021 Equity Incentive Plan.	S-1/A	333-253483	10.3.1	3/15/21
10.3.2	Form of Restricted Stock Unit Award Agreement under 2021 Equity Incentive Plan.	S-1/A	333-253483	10.3.2	3/15/21
10.4	DigitalOcean Holdings, Inc. 2021 Employee Stock Purchase Plan.	S-1/A	333-253483	10.4	3/15/21
10.5	Amended Non-Employee Director Compensation Policy.					X
10.6	Form of Indemnification Agreement entered into by and between Registrant and each director and executive officer.	S-1	333-253483	10.6	2/25/21
10.7	Employment Agreement between Registrant and Yancey Spruill, dated March 8, 2021.	S-1/A	333-253483	10.7	3/15/21
10.8	Employment Agreement between Registrant and Carly Brantz, dated March 8, 2021.	S-1/A	333-253483	10.8	3/15/21
10.9	Employment Agreement between Registrant and Jeffrey Guy, dated March 8, 2021.	S-1/A	333-253483	10.9	3/15/21
10.10	Employment Agreement between Registrant and Alan Shapiro, dated March 8, 2021.	10-Q	001-40252	10.1	5/05/22
10.11	Employment Agreement between Registrant and Gabriel Monroy, dated September 10, 2021.	10-Q	001-40252	10.2	5/05/22
10.12	Employment Agreement between Registrant and W. Matthew Steinfort, dated November 15, 2022.	8-K	001-40252	10.1	11/17/22
10.13	Employment Agreement between Registrant and William Sorenson, dated March 8, 2021.	8-K	001-40252	10.1	8/08/22


Signature	Title	Date

/s/ Yancey Spruill	Chief Executive Officer and Director	February 22, 2023
Yancey Spruill	(Principal Executive Officer)

/s/ W. Matthew Steinfort	Chief Financial Officer	February 22, 2023
W. Matthew Steinfort	(Principal Financial Officer)

/s/ Adrienne Calderone	Chief Accounting Officer	February 22, 2023
Adrienne Calderone	(Principal Accounting Officer)

/s/ Warren Adelman	Director	February 22, 2023
Warren Adelman

/s/ Pratima Arora	Director	February 22, 2023
Pratima Arora

/s/ Amy Butte	Director	February 22, 2023
Amy Butte

/s/ Warren Jenson	Director	February 22, 2023
Warren Jenson

/s/ Pueo Keffer	Director	February 22, 2023
Pueo Keffer

/s/ Hilary Schneider	Director	February 22, 2023
Hilary Schneider


Name						Jurisdiction
DigitalOcean, LLC						United States
DigitalOcean EU B.V.						Netherlands
DigitalOcean EU B.V. (German Branch)						Germany
DigitalOcean EU B.V. (French Branch)						France
Digital Ocean Canada, Inc.						Canada
Droplet Offshore Services Private Limited						India
DigitalOcean Droplet Limited						United Kingdom
DigitalOcean Australia Pty. Ltd.						Australia
ServerStack, Inc.						United States
DigitalOcean, LLC (German Branch)						Germany
Digital Ocean LLC UK PE (UK Branch)						United Kingdom
DigitalOcean, LLC (Canadian Branch)						Canada
DigitalOcean LLC (Dutch Branch)						Netherlands
Cloudways Ltd						Malta
Cloudways Platform (Private) Limited						Pakistan
SMBCloud Platform, Inc.						United States