Press release
DocuSign Announces First Quarter Fiscal 2023 Financial Results
SAN FRANCISCO, June 9, 2022 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature solution as part of the DocuSign Agreement
About this update from Docusign, Inc.
[{"type":"text","content":"SAN FRANCISCO, June 9, 2022 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature solution as part of the DocuSign Agreement Cloud, today announced results for its fiscal quarter ended April 30, 2022.\n\n \n \n \n \n \n \n\n \n\"We delivered solid first-quarter results, growing revenue by 25% year-over-year and adding nearly 67,000 new customers, bringing our total global customer base to 1.24 million. We also bolstered our leadership team with key new hires who, together with our existing team, are ensuring we're well-positioned to grow and scale our business,\" said Dan Springer, CEO of DocuSign. \"With over a billion users worldwide, the proven value of our products, and the significant opportunity we have ahead of us, we're confident in our ability to successfully navigate the challenges of a dynamic global environment.\"\nFirst Quarter Financial Highlights\nTotal revenue was $588.7 million, an increase of 25% year-over-year. Subscription revenue was $569.3 million, an increase of 26% year-over-year. Professional services and other revenue was $19.4 million, an increase of 13% year-over-year.Billings were $613.6 million, an increase of 16% year-over-year.GAAP gross margin was 78% for both periods. Non-GAAP gross margin was 81% for both periods. GAAP net loss per basic and diluted share was $0.14 on 200 million shares outstanding compared to $0.04 on 194 million shares outstanding in the same period last year. Non-GAAP net income per diluted share was $0.38 on 206 million shares outstanding compared to $0.44 on 208 million shares outstanding in the same period last year. Net cash provided by operating activities was $196.3 million compared to $135.6 million in the same period last year.Free cash flow was $174.6 million compared to $123.0 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1,063.8 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\nExecutive Appointments. DocuSign appointed the following key new leaders:Steve Shute as President of Worldwide Field Operations. St...