DigitalOcean Reports Record Q3 Revenue of $321 Million

DigitalOcean reported record third-quarter revenue of $321 million, marking a 40% increase from the previous year. This growth was driven by high demand for the company's AI Native Cloud platform, which pushed annual run-rate revenue to $1.285 billion. AI-specific customers contributed $376 million to that total, a 288% increase.

Management raised the 2027 revenue growth forecast to over 60%, up from a previous estimate of 50%. The company noted that token volume grew tenfold between the second and third quarters of 2026. As of September 30, remaining performance obligations reached $800 million, representing a 1,200% year-over-year increase.

DigitalOcean stock has gained 65% in 2026, outperforming the S&P 500's 10% return, despite a price correction following a June peak of $181.29.