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DigitalOcean Holdings cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$138M in Q3 2026 · $244M over twelve months

Operating cash flow$161M
Capital spending−$23.5M
Free cash flow+$138M
Cash conversion cycle21 days

Analysis

In Q3 2026, DigitalOcean Holdings generated $161M of operating cash flow and spent $23.5M on capital projects, leaving free cash flow of $138M. That is $49.7M more than in Q3 2025 ($88.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was $375M; the largest uses were other investing ($380M), capital spending ($131M), taxes on employees’ shares ($69.2M); besides operations, cash came from other financing ($675M), shares issued ($4.5M); the cash balance rose by $430M.

Operating cash flow was $161M against net income of −$42.6M. The largest differences: depreciation & amortization +$75.1M, prepaid and other assets +$49.3M, stock-based pay +$36.0M.

Its cash conversion cycle was 21 days (receivables 36 + inventory 0 − payables 16).

Free cash flow

DigitalOcean Holdings: free cash flow by quarterDigitalOcean Holdings: free cash flow by quarter$26.1MQ4 2024$2.1MQ1 2025$59.2MQ2 2025$88.0MQ3 2025$31.1MQ4 2025$6.9MQ1 2026$68.4MQ2 2026$138MQ3 2026
Operating cash flow less capital spending.
DigitalOcean Holdings: operating cash flow against capital spendingDigitalOcean Holdings: operating cash flow against capital spendingOperating cash flowCapital spending$71.3M$45.3MQ4 2024$64.1M$62.0MQ1 2025$92.4M$33.2MQ2 2025$95.8M$7.8MQ3 2025$57.3M$26.2MQ4 2025$46.9M$40.0MQ1 2026$110M$41.6MQ2 2026$161M$23.5MQ3 2026
Latest (Q3 2026): Operating cash flow $161M, Capital spending $23.5M.

Capital allocation, year by year

DigitalOcean Holdings: where the cash came from (up) and went (down), by fiscal yearDigitalOcean Holdings: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $133MFY2021: Net borrowing −$230MFY2021: Shares issued $729MFY2021: Asset sales $494KFY2021: Capital spending −$97.1MFY2021: Acquisitions −$5.0MFY2021: Buybacks −$350M$863MFY2021FY2022: Operating cash flow $195MFY2022: Shares issued $7.9MFY2022: Asset sales $981KFY2022: Capital spending −$106MFY2022: Acquisitions −$305MFY2022: Buybacks −$600M$204MFY2022FY2023: Operating cash flow $235MFY2023: Net borrowing −$2.3MFY2023: Shares issued $5.0MFY2023: Asset sales $236KFY2023: Capital spending −$119MFY2023: Acquisitions −$99.0MFY2023: Buybacks −$488M$240MFY2023FY2024: Operating cash flow $283MFY2024: Net borrowing −$5.5MFY2024: Shares issued $4.1MFY2024: Asset sales $43KFY2024: Capital spending −$178MFY2024: Buybacks −$59.8M$287MFY2024FY2025: Operating cash flow $310MFY2025: Net borrowing −$8.3MFY2025: Shares issued $4.7MFY2025: Asset sales $230KFY2025: Capital spending −$129MFY2025: Buybacks −$82.1M$314MFY2025
Over these 5 years operating cash flow totalled $1.2B; the largest uses were buybacks ($1.6B) and capital spending ($630M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$666M
Debt$462M
Net cash$204M
Due within a year$327M

DigitalOcean Holdings funds itself: free cash flow was $244M over the last twelve months, and $666M of cash and investments stands against $462M of debt ($327M due within a year, 2.0× covered by cash).

DigitalOcean Holdings: debt maturities by year (FY2025)DigitalOcean Holdings: debt maturities by year (FY2025)$327MYear 1$19.0MYear 2$19.0MYear 3$19.0MYear 4$934MYear 5
Principal due in each year as disclosed in the annual report, against $666M of cash and investments now.

Where the cash came from and went

DigitalOcean Holdings: sources (+) and uses (−) of cash, Q3 2026DigitalOcean Holdings: sources (+) and uses (−) of cash, Q3 2026Other investing−$209MOperating cash flow$161MCash drawn (+) / kept (−)$101MTaxes on employees’ shares−$23.6MCapital spending−$23.5MNet borrowing (+) / repaid (−)−$18.2MOther financing$12.3MExchange rates−$253K
DigitalOcean Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026DigitalOcean Holdings: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$675MCash drawn (+) / kept (−)−$430MOther investing−$380MOperating cash flow$375MCapital spending−$131MTaxes on employees’ shares−$69.2MNet borrowing (+) / repaid (−)−$44.0MShares issued$4.5MExchange rates−$282KAsset & business sales$73K

From profit to cash

DigitalOcean Holdings: net income to operating cash flow, Q3 2026DigitalOcean Holdings: net income to operating cash flow, Q3 2026Net income−$42.6MDepreciation & amortization$75.1MStock-based pay$36.0MOther non-cash$4.3MReceivables−$29.8MPayables$18.1MDeferred revenue−$332KPrepaid and other assets$49.3MOther operating capital$920KOperating cash flow$161M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202636—1621
Q2 202636—1520
Q1 202634—286
Q4 202533—49-16
Q3 202533—49-16
Q2 202533—2112
Q1 202532—35-4
Q4 202432—39-8

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$161M−$23.5M——−$18.2M—$101M$138M
Q2 2026$110M−$41.6M——−$11.8M$1.7M−$25.7M$68.4M
Q1 2026$46.9M−$40.0M−$4.0M—$110M$890M−$487M$6.9M
Q4 2025$57.3M−$26.2M——−$4.1M$2.0M−$18.1M$31.1M
Q3 2025$95.8M−$7.8M—−$2.9M−$1.4M—$153M$88.0M
Q2 2025$92.4M−$33.2M—−$20.1M−$1.4M$830K−$27.3M$59.2M
Q1 2025$64.1M−$62.0M—−$59.1M−$1.4M$1.9M$68.0M$2.1M
Q4 2024$71.3M−$45.3M—−$29.9M—$1.9M$11.4M$26.1M

DigitalOcean Holdings: income statement and cash flow

DigitalOcean Holdings, Q3 2026: revenue $321M (+40% year over year), operating margin 10.3%. The chart follows the revenue to costs, profit and cash.

DigitalOcean Holdings: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.