DigitalOcean Holdings, Inc. (NYSE:DOCN) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Melanie Strate - Head of IR
Paddy Srinivasan - CEO
Matt Steinfort - CFO

Conference Call Participants

Gabriela Borges - Goldman Sachs
Raimo Lenschow - Barclays
Kingsley Crane - Canaccord Genuity
Patrick Walravens - JMP Securities
Mike Cikos - Needham
Pinjalim Bora - JPMorgan

Operator

Thank you for standing by, and welcome to the DigitalOcean Second Quarter 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I'd now like to turn the call over to Melanie Strate, Head of Investor Relations. You may begin.

Melanie Strate

Thank you, and good afternoon. Thank you all for joining us today to review DigitalOcean's second quarter 2024 financial results. Joining me on the call today are Paddy Srinivasan, our Chief Executive Officer, and Matt Steinfort, our Chief Financial Officer. After our prepared remarks, we will open the call to a question-and-answer session.

Before we begin, let me remind you that the statements made on the call today may be considered forward-looking statements, which reflect management's best judgment based on currently available information. I refer specifically to the discussion of our expectations and beliefs regarding our financial outlook for the third quarter and full year 2024, as well as our business goals and outlook.

Our actual results may differ materially from those projected in these forward-looking statements. I direct your attention to the risk factors contained in our filings with the Securities and Exchange Commission and those referenced in today's press release that is posted on our website. DigitalOcean expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements made today.

Additionally, known GAAP financial measures will be discussed on this conference call, and reconciliations to the most directly comparable GAAP financial measures are also available in today's press release, as well as in our investor presentation that outlines the financial discussion on today's call. A webcast of today's call is also available on the IRS section of our website.

And with that, I'll turn the call over to Paddy.

Paddy Srinivasan

Thank you, Melanie. Good afternoon, everyone, and thank you for joining us today as we review our second quarter results. DigitalOcean delivered a strong second quarter, building on the momentum from the first quarter and continuing to execute on all key metrics. In my remarks today, I will briefly highlight our second quarter results, provide an update on the leaders we hired recently, share tangible examples of our increasing product velocity, and discuss how we are capitalizing on our AI growth opportunity.