The Ledger ResearchPrivate

The Front Office

Scouting report · DOCN

Padmanabhan Srinivasan

  • Chief Executive Officer & Director, DOCN since 2024-02src

DigitalOcean CEO since February 2024; previously CEO of GoTo (LogMeIn)

A−80 / 100

Ranked #13 of 23

Scouting sheet

as of 24 Sep 2026
Delivers guidance685 beat · 0 met · 2 missed · 1 withdrawn
Answers the question970 dodges in 21 answers on 2 calls
Capital allocation—company five-year record: neutral — inherited: the five-year record is mostly a predecessor's
Pay design87revenue, fcf, tsr, time only · 97.8% for · 0.47% of net income
Skin in the game81stake worth $21.6m, 18× last year's pay
Age
51src
In the role
3 yr
Promises scored
8
Hit rate
62%
Dodges / 100 answers
0.0
Airtime on calls
62%
Every promise, oldest firstBBBBBXWX

What to weigh

Watch 4

  • First public-company CEO role: GoTo was privately held while he ran it, so there is no earlier public guidance record to check him againstmemory
  • The FY2026 revenue guide he voiced was raised twice (dossier S8 row 5), but the adjusted-FCF margin guide was cut, the unlevered FCF margin guide withdrawn and the share-count guide raised about 10% (rows 6-8), all while he was CEOsrc
  • Small owned stake: 147,992 shares (about 0.14%) at 2026-03-31. The CEO ownership guideline was raised in February 2026 to 10x salary ($6.0m), with compliance due by March 2029src
  • Began selling under a 10b5-1 plan in August 2026: 22,788 shares for about $2.9m across three sales, about 3% of the 751,423 shares (including unvested RSUs) reported after the last salesrc

In their favour 2

  • 2025 pay was $1.21m (salary plus a 98%-of-target bonus paid on revenue and adjusted FCF margin), a CEO pay ratio of 11:1, because no new equity was granted after the $26.5m hire-year awardsrc
  • The hire award's market-based part vests only on 60-trading-day average share prices of $65, $100, $135 and $170 over five years, with no interpolation; hedging and pledging are bannedsrc

Career

  1. 2024 – now
    DigitalOcean Holdingssrc
    Chief Executive Officer & Director
    Started 2024-02-12 (8K-2024-01-17)
  2. 2022 – 2024
    GoTo (formerly LogMeIn)src
    Chief Executive Officer
    August 2022 to February 2024; GoTo is described as a $1B+ revenue SaaS company in the appointment release
  3. 2020 – 2022
    GoTo (formerly LogMeIn)src
    Chief Product and Technology Officer
  4. 2019 – 2020
    Amazonsrc
    General Manager, Data, Machine Learning Platform Services, Alexa AI
  5. 2013 – 2019
    LogMeIn (later GoTo)src
    Various positions, finishing as SVP Products, General Manager
    The appointment release adds VP Products and Engineering among his GoTo roles
  6. 2009 – 2012
    Opstera, Inc.src
    Co-founder and CEO
    Cloud monitoring and managed-service startup; sold in 2012 to a Microsoft subsidiary (8-K) described in the release as Avanade, the Microsoft-Accenture company. Start year from WS-theorg (left Oracle January 2009), not from a filing
  7. 2006 – 2009
    Oracle Corporationsrc
    Director of Product Management
    Filings say only 'product and engineering leadership positions' at Oracle, without dates
  8. 1999 – 2006
    Microsoftsrc
    Developer, rising to Director, Group Product Manager
    The release says he started his career as a developer at Microsoft

Not located: Opstera's founding date is not in any filing read (2009 is inferred from the Oracle end date in a search summary); the Microsoft and Oracle dates come from a search summary only

Achievements

  • Ran GoTo (formerly LogMeIn) as CEO from August 2022 to February 2024 after two years as its Chief Product and Technology Officersrc
  • Co-founded cloud monitoring start-up Opstera, sold to a Microsoft subsidiary in 2012src
  • DigitalOcean's GAAP net income rose from $19.4m (FY2023, the year before he joined) to $84.5m (FY2024) and $259.3m (FY2025)src
  • Tranche 1 of his hire-date stock-price award ($65 target) was met in April 2026; none had been met at 2025 year endsrc
  • Say-on-pay passed with 97.8% of votes cast for and against at the June 2026 meetingsrc

Education

  • Birla Institute of Technology and Science, BS Electrical and Electronic Engineeringsrc
  • Southern Methodist University, MBA Businesssrc

Background

  • Family The appointment 8-K states there are no family relationships between him and any director or executive officer and no Item 404(a) related-party transactionsrc
  • Other Hired from outside after a board search (Spencer Stuart retained) that followed the August 2023 succession plan for Yancey Spruill; director Warren Adelman served as Executive Chairman in the interimsrc
  • Other At-will employment agreement: 12 months' salary, target bonus and 12 months of time-based vesting on a termination without cause; 18 months' salary, 150% bonus and full time-based vesting on a change-in-control terminationsrc
  • In the press As GoTo CEO he announced in January 2023 that attackers had taken encrypted customer backups and part of an encryption key, in the incident that followed the 2022 LastPass breach (LastPass was then a GoTo business)src

The promise ledger

8 scored · 0 open
ResultWhat was promisedWhere it is scoredHow
B BeatQ1 2026 revenue $249–250mDOCN row 1written outlook
B BeatQ1 2026 adj. EBITDA margin 36–37%; non-GAAP EPS $0.22–0.27DOCN row 2written outlook
B BeatQ2 2026 revenue $272–274mDOCN row 3written outlook
B BeatQ2 2026 adj. EBITDA margin 37–38%; non-GAAP EPS $0.20–0.23DOCN row 4written outlook
B BeatFY2026 revenue $1.075–1.105bn (21% growth)DOCN row 5said it
X Missed❗ FY2026 adjusted free-cash-flow margin 15–17% of revenueDOCN row 6written outlook
W Withdrawn❗ FY2026 unlevered adjusted FCF margin 18–20% of revenueDOCN row 7written outlook
X Missed❗ FY2026 fully diluted weighted average shares ~111–112mDOCN row 8written outlook

Questions dodged

0.0 per 100 answers

None logged on the calls reviewed.

Calls reviewed

  • FY2026-Q1.roic.json — 13 answers, 65% of the words
  • FY2026-Q2.roic.json — 8 answers, 59% of the words

Sources

14
  1. Filing DigitalOcean Holdings DEF 14A (accession 0001582961-26-000029) · 2026-04-24
  2. Filing DigitalOcean Holdings 8-K Item 5.07, 2026 annual meeting results (0001582961-26-000051) · 2026-06-17
  3. Filing DigitalOcean Holdings 8-K Item 5.02, CEO employment agreement (0001582961-24-000010) · 2024-01-17
  4. Filing Ex-99.1 to the 8-K of 2024-01-17, 'DigitalOcean Appoints Paddy Srinivasan as Chief Executive Officer' · 2024-01-17
  5. Filing DigitalOcean Holdings 8-K Item 5.02, CEO succession plan and Spruill separation (0001582961-23-000044) · 2023-08-24
  6. Filing SEC XBRL companyconcept us-gaap/NetIncomeLoss, CIK 1582961 (FY2025 10-K, 0001582961-26-000019) · 2026-02-24
  7. Filing Form 4, Padmanabhan T. Srinivasan (reporting CIK 1761862), RSU grant of 2026-03-20 (0001761862-26-000004) · 2026-03-24
  8. Filing Form 4, Padmanabhan T. Srinivasan, 10b5-1 sale of 2026-08-17 (0001761862-26-000011) · 2026-08-19
  9. Filing Form 4, Padmanabhan T. Srinivasan, tax withholding 2026-09-01 and 10b5-1 sale 2026-09-03 (0001761862-26-000013) · 2026-09-03
  10. Filing Form 4, Padmanabhan T. Srinivasan, 10b5-1 sale of 2026-09-21 (0001761862-26-000015) · 2026-09-22
  11. Call transcript DOCN Q2 2026 earnings call (2026-08-04), ROIC.ai
  12. Web search result WebSearch summary: Paddy Srinivasan career (Microsoft 1999-2006, Oracle 2006-2009); summary drew on people-directory pages, page not opened · 2026-09-24
  13. From memory, not located in a source Model background knowledge, not located in a source (LogMeIn/GoTo taken private in 2020)
  14. Web search result WebSearch: GoTo says hackers stole encrypted backups during November cyberattack (The Record, Jan 2023) · 2026-09-24