Dan Springer, chief executive officer at DocuSign.
David Paul Morris | Bloomberg | Getty Images
DocuSign, the e-signature provider, reported an earnings and revenue beat for the fiscal quarter ended April 30, alongside announcing a handful of C-suite hires and new service offerings. The company’s shares spiked as much as 12% after hours before settling to a 5% gain.
Here’s how the company did:
- Earnings: 72 cents per share, adjusted, vs. 56 cents per share expected by analysts, according to Refinitiv.
- Revenue: $661 million, vs. $642 million expected by analysts, according to Refinitiv.
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In the first quarter of Docusign’s 2024 fiscal year, revenue jumped 12% year-over-year to $661 million, and subscription revenue increased by the same percentage year over year, to $639 million. For the “professional services and other” category, revenue spiked 14% to $22 million, compared to the same period last year.
DocuSign reported breakeven net profit ($0.00 per share) versus a loss of 14 cents per share during the year-age quarter.
The company announced a few new products and services, including Webforms, a way for organizations to create, customize and manage their own forms, including exporting and analyzing the data collected.
DocuSign reported 1.4 million paying users and more than 1 billion users as of April 30 and emphasized its international focus to investors, with service in more than 180 countries and 17% international revenue growth year over year.
For the fiscal second quarter, DocuSign expects revenue of $675 million to $679 million, compared to analyst estimates of $667 million, according to Refinitiv. For the fiscal year, the company forecasts revenue of $2.71 billion to $2.73 billion, compared to analysts’ expectations of $2.7 billion.
DocuSign also made a handful of strategic C-suite hires last quarter, including appointing a new chief financial officer, Blake Grayson, who formerly served as the CFO of The Trade Desk and in other finance roles at Amazon. The company also chose a new chief product officer in Dmitri Krakovsky — previously of CP4, Google, SAP and Yahoo — and a new chief information security officer in Kurt Sauer, who formerly held the same role at Workday.
