Press release
DocuSign Announces First Quarter Fiscal 2021 Financial Results
SAN FRANCISCO, June 4, 2020 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 eSignature solution as part of the DocuSign Agreement
About this update from Docusign, Inc.
[{"type":"text","content":"SAN FRANCISCO, June 4, 2020 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 eSignature solution as part of the DocuSign Agreement Cloud, today announced results for its fiscal quarter ended April 30, 2020.\n\n \n \n \n \n \n \n\n \n\"Our strong first quarter results reflect our ability to help organizations accelerate their digital transformation as they adapt to the changing business environment, magnified by COVID-19. Many are taking their first steps with us, while others are expanding their initiatives,\" said Dan Springer, DocuSign's CEO. \"Led by eSignature, our Agreement Cloud offerings are not only helping customers carry on with business in this time of crisis, but will continue to deliver value as the world emerges from it.\"\nFirst Quarter Financial Highlights\nTotal revenue was $297.0 million, an increase of 39% year-over-year. Subscription revenue was $280.9 million, an increase of 39% year-over-year. Professional services and other revenue was $16.1 million, an increase of 29% year-over-year. Billings were $342.1 million, an increase of 59% year-over-year. GAAP gross margin was 75%, compared to 76% in the same period last year. Non-GAAP gross margin was 79% in both comparative periods. GAAP net loss per basic and diluted share was $0.26 on 183 million shares outstanding compared to $0.27 on 172 million shares outstanding in the same period last year. Non-GAAP net income per diluted share was $0.12 on 197 million shares outstanding compared to $0.07 on 189 million shares outstanding in the same period last year. Net cash provided by operating activities was $59.1 million compared to $45.7 million in the same period last year. Free cash flow was $32.8 million compared to $30.4 million in the same period last year. Cash, cash equivalents, restricted cash and investments were $898.3 million at the end of the quarter.A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading \"Non-GAAP Financial Measures and Other Key Metrics.\"\nOperational and Other Financial Highlights\nDocuSign Agreement Cloud: 2020 Release 1. As the latest in DocuSign's regular cadence of product updates, this year's first release focused on enhancements and features requested primarily by...