DOCN
Market read
The latest filing is mixed. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Invalidation: The isolated read changes if DOCN's group or a disclosed connection begins moving with it.
Research brief
The latest filing is mixed. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 5 directly disclosed connections are confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“The change was primarily driven by increased cash collections from higher revenues, partially offset by higher co-location costs resulting from data center expansions and higher personnel costs due to increased headcount and annual merit-based salary raises.”10-Q · Aug 4, 2026 ↗
“27 Operating Expenses Three Months Ended March 31, 2026 2025 $ Change % Change (in thousands) Research and development $ 48,830 $ 39,594 $ 9,236 23 % Sales and marketing 21,669 19,401 2,268 12 % General and administrative 37,640 32,807 4,833 15 % Total operat…”10-Q · May 5, 2026 ↗
“Non-GAAP Net Income and Non-GAAP Diluted Net Income Per Share We define non-GAAP net income as net income attributable to common stockholders, excluding stock-based compensation, acquisition related compensation, amortization of acquired intangibles, acquisit…”10-Q · Aug 4, 2026 ↗
“The change is primarily due to a net decrease of $7.2 million in unrealized gains related to foreign currency fluctuations from our operations and an increase of $5.2 million in interest expense mostly driven by interest on our finance leases and equipment fi…”10-Q · Aug 4, 2026 ↗
Valuation discipline
Price/sales 15.3× · EV/sales 16.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for DOCN. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
10-Q filed 2026-08-04 against the comparable filing from 2025-08-05.
Capital and cash conversion
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
“The change is primarily due to an increase of $13.6 million in interest expense mostly driven by interest on our finance leases and equipment financing arrangements, a decrease of $11.3 million in net unrealized gains related to foreign currency fluctuations from our operations, and an additional $2.4 million loss on extinguishment of debt from our Term Loan Facility, offset by a $2.4 million increase in interest income due to higher investment balance from the proceeds of our public equity offering completed in March 2026.”
“The change is primarily due to a net decrease of $7.2 million in unrealized gains related to foreign currency fluctuations from our operations and an increase of $5.2 million in interest expense mostly driven by interest on our finance leases and equipment financing arrangements, offset by $3.2 million higher interest income due to higher investment balance from the proceeds of our public equity offering completed in March 2026.”
“Cost of Revenue Three Months Ended June 30, 2026 2025 $ Change % Change (in thousands) Cost of revenue $ 126,522 $ 87,755 $ 38,767 44 % Cost of revenue increased for the three months ended June 30, 2026 compared to 2025 primarily due to data center expansions which drove increases of $17.2 million in depreciation and amortization related to data center infrastructure additions, $12.4 million in co-location costs, $3.4 million in third-party licenses and partnership expenses, $2.9 million in ancillary equipment costs, and $3.2 million in other costs, net.”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“Our AI/ML offerings compete with providers of AI/ML infrastructure and services, including the same large, diversified technology companies, Amazon (AWS), Microsoft (Azure), and Google (GCP), and smaller more infrastructure-focused companies such as Coreweave…”
“The primary vendors in this category 12 include Amazon (AWS), Microsoft (Azure), Google (GCP), IBM (IBM Cloud), Alibaba (Alibaba Cloud) and Oracle (Oracle Cloud).”
“Our AI/ML offerings compete with providers of AI/ML infrastructure and services, including the same large, diversified technology companies, Amazon (AWS), Microsoft (Azure), and Google (GCP), and smaller more infrastructure-focused companies such as Coreweave…”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
DOCN is currently a Leader in the organic co-movement group Developer Cloud Infrastructure. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for DOCN; it is not active in the latest market snapshot.
Context history
No durable theme membership has been observed for this name yet.