DigitalOcean Q2 Revenue Surges 29%, RPO Hits $894M; Raises 2026 Outlook to ~30% Growth
DOCN has more than doubled off its 52-week low of $25.56.
Summary
DigitalOcean reported Q2 2026 revenue of $281 million, up 29% year-over-year, with RPO soaring to $894 million. The company raised its full-year revenue growth outlook to approximately 30% and guided for 35%+ growth by Q4, driven by surging AI customer demand.
Key Events · Earnings and Guidance · DOCN
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Revenue Growth Accelerates to 29%
Q2 2026 revenue reached $281 million, up 29% year-over-year, more than double the growth rate a year ago. AI Customer ARR surged 212% to $234 million, now representing a significant portion of total ARR.
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RPO Explodes to $894 Million
Remaining Performance Obligation hit $894 million, a 12x increase from $71 million in Q2 2025, driven by large, multi-year commitments from AI-native customers, including the first nine-figure annual deals.
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Full-Year Revenue Outlook Raised
Management raised 2026 revenue guidance to $1.170-$1.180 billion, implying 30-31% growth, and expects growth to reach 35% or more by Q4 2026, with confidence in exceeding 50% growth in 2027.
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Record Incremental ARR of $93 Million
The company added a record $93 million in incremental ARR during Q2, up 191% year-over-year, reflecting strong demand from high-spending customers and AI-native enterprises.
Analysis · DOCN · Technology
A standout quarter saw revenue growth accelerate to 29% — more than double the year-ago pace — driven by AI-native customers. RPO exploded to $894 million, up 12x year-over-year, signaling massive future revenue visibility. The company landed its first nine-figure annual commitments and raised full-year guidance to 30-31% growth, with Q4 expected to hit 35% or more. This is a thesis-altering print: the AI cloud pivot is working, and the balance sheet is flush with $767 million in cash after a recent $1.47 billion equity raise and debt buyback. The only blemish is a slight margin compression, but the growth trajectory and guidance raise overshadow it.
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In the 30 days to Sep 17, 2026, 40.7% of the 383 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.55%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, DOCN was trading at $117.28 on NYSE in the Technology sector, with a market capitalization of approximately $14.9B. The 52-week trading range was $25.56 to $187.50. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.