$DOCU reports YoY revenue growth and profitability, focuses on innovation and partnerships.
Mar 9th 2023, 9:15 pm
Analyst Summary: DocuSign Inc., the leading e-signature product company, announced its fourth-quarter and fiscal year ended January 31, 2023, results. CEO Allan Thygesen stated that the company had made tangible progress on their strategic priorities, invested in their innovation roadmap and self-service capabilities which aims to drive profitable growth at scale. The company's total revenue rose 7% YoY to $659 million, while billings rose by 9% YoY to $643 million. Moreover, the net income increased to $15 million compared to a loss of $739 million YoY. DocuSign's non-GAAP gross margin was 79% compared to 76% in the same period last year. DocuSign made several executive appointments recently. The company has also won the "Voice of the Customer': Electronic Signature" distinction for exceeding market average for overall experience and user interest and adoption. For the fiscal year ending January 31, 2024, DocuSign did not reconcile guidance to the corresponding GAAP measures because stock-based compensation expense cannot be calculated or predicted. Therefore, a reconciliation was not provided. DocuSign's Free Cash Flow stood at $2.1 billion at the end of the quarter, and the company is focused on strengthening and expanding its relationships with developers. However, forward-looking statements are inherently uncertain and pose potential risk and uncertainties.