DigitalOcean Holdings, Inc. (NYSE:DOCN) Q1 2023 Earnings Conference Call May 9, 2023 8:00 AM ET

Company Participants

Rob Bradley - Vice President, Investor Relations

Yancey Spruill - Chief Executive Officer

Matt Steinfort - Chief Financial Officer

Conference Call Participants

Wamsi Mohan - Bank of America

Michael Turits - KeyBanc

Raimo Lenschow - Barclays

Mike Cikos - Needham

Brad Reback - Stifel

Pinjalim Bora - JP Morgan

Gabriela Borges - Goldman Sachs

Quinton Gabrielli - Piper Sandler

Operator

Thank you for standing by, and welcome to the DigitalOcean First Quarter 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] And finally, I would like to advise all participants that this call is being recorded. Thank you.

I'd now like to welcome Rob Bradley, Vice President, Investor Relations to begin the conference. Rob, over to you.

Rob Bradley

Thanks, Paulie. And thank you and welcome everybody to DigitalOcean's First Quarter 2023 Earnings Call. Joining me today is Yancey Spruill, our Chief Executive Officer; and Matt Steinfort, our Chief Financial Officer.

Before we begin, I want to cover our Safe Harbor statement. During this conference call, we will be making forward-looking statements, including our financial outlook for the second quarter and full year, as well as statements about goals and business outlook, industry trends, market opportunities and expectations for future financial performance and similar items. All of these statements are subject to risks, uncertainties and assumptions. You can review more information about these in the Risk Factors section of our filings with the SEC. We remind everyone that our actual results may differ and we undertake no obligation to revise or update any forward-looking statements.

Finally, we will be discussing non-GAAP financial measures on our call today. Reconciliations between our GAAP and non-GAAP financial results can be found in our earnings press release, which was issued earlier this morning and in the investor presentation on our IR website.

With that, let me turn the call over to our CEO, Yancey Spruill.

Yancey Spruill

Thanks, Rob. Good morning and thank you for joining us today. I'm pleased to share the results of another strong quarter for DigitalOcean. We made solid progress on our key priorities of adding valuable services for customers on our platform and reshaping our cost structure to accelerate our long term free cash flow margin objectives. And despite the challenging macro environment, we met or exceeded all of our financial targets.