Press release
DocuSign Announces First Quarter Fiscal 2024 Financial Results
SAN FRANCISCO, June 8, 2023 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature product as part of its industry leading
About this update from Docusign, Inc.
[{"type":"text","content":"SAN FRANCISCO, June 8, 2023 /PRNewswire/ -- 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 fiscal quarter ended April 30, 2023.\n\"DocuSign's first quarter results, coupled with traction on our strategic objectives reflect a solid start to the year,\" said Allan Thygesen, CEO of DocuSign. \"While we have work ahead of us, I am encouraged by our progress to enable smarter, easier, trusted agreements. As we continue to execute on our strategy and leverage our competitive advantages, notably in AI, DocuSign is well positioned for the future.\"\nFirst Quarter Financial Highlights\nTotal revenue was $661.4 million, an increase of 12% year-over-year. Subscription revenue was $639.3 million, an increase of 12% year-over-year. Professional services and other revenue was $22.1 million, an increase of 14% year-over-year.Billings were $674.8 million, an increase of 10% year-over-year.GAAP gross margin was 79% compared to 78% in the same period last year. Non-GAAP gross margin was 83% compared to 81% in the same period last year.GAAP net income per basic share was $0.00 on 203 million shares outstanding compared to a loss of $0.14 on 200 million shares outstanding in the same period last year.GAAP net income per diluted share was $0.00 on 208 million shares outstanding compared to a loss of $0.14 on 200 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.72 on 208 million shares outstanding compared to $0.38 on 206 million shares outstanding in the same period last year.Net cash provided by operating activities was $233.6 million compared to $196.3 million in the same period last year.Free cash flow was $214.6 million compared to $174.6 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.4 billion 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:Blake Grayson as Chief Financial Officer. Most recently, Bl...