March 9, 2023 — DocuSign, Inc. (NASDAQ: DOCU), which offers the world’s #1 e-signature product as part of its industry leading lineup, today announced results for its fourth quarter and fiscal year ended January 31, 2023.
DocuSign, Inc. (NASDAQ: DOCU) reported Q4 non-GAAP earnings of $0.65 per diluted share,
Analysts polled by Capital IQ expected $0.52 per share.
Revenue for the quarter ended Jan. 31 was $659.6 million,
Analysts polled by Capital IQ expected $639.5 million.
The company said it expects Q1 revenue of $639 million to $643 million. Analysts polled by Capital IQ expect $639.8 million.
DocuSign expects fiscal year 2024 revenue of $2.695 billion to $2.707 billion. Analysts polled by Capital IQ expect $2.69 billion.
Fourth Quarter Financial Highlights
Total revenue was $659.6 million, an increase of 14% year-over-year. Subscription revenue was $643.7 million, an increase of 14% year-over-year. Professional services and other revenue was $15.9 million, a decrease of 5% year-over-year.
Billings were $739.0 million, an increase of 10% year-over-year.
GAAP gross margin was 79%, compared to 77% in the same period last year. Non-GAAP gross margin was 83% compared to 81% in the same period last year.
Non-GAAP net income per diluted share was $0.65 on 206 million shares outstanding compared to $0.48 on 207 million shares outstanding in the same period last year.
Free cash flow was $113.0 million compared to $70.3 million in the same period last year.
Cash, cash equivalents, restricted cash and investments were $1.2 billion at the end of the quarter.
DocuSign, Inc. 2024 financial outlook
DOCUSIGN, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
About DocuSign
DocuSign helps organizations connect and automate how they navigate their systems of agreement. As part of its industry leading product lineup, DocuSign offers eSignature, the world’s #1 way to sign electronically on practically any device, from almost anywhere, at any time. Today, over 1.3 million customers and more than a billion users in over 180 countries use the DocuSign platform to accelerate the process of doing business and simplify people’s lives. For more information, visit http://www.docusign.com.