Docusign Announces First Quarter Fiscal 2025 Financial Results; Announces $1.0 Billion Increase to Share Repurchase Program

About this update from Docusign, Inc.

[{"type":"text","content":"SAN FRANCISCO, June 6, 2024 /PRNewswire/ -- Docusign, Inc. (NASDAQ: DOCU) today announced results for its fiscal quarter ended April 30, 2024. Prepared remarks and the news release with the financial results will be accessible on Docusign's website at investor.docusign.com prior to its webcast.\n\n \n \n \n \n \n \n\n \n\"Docusign is off to a strong start in fiscal 2025. We launched a significant expansion to our company strategy with our announcement of the Docusign Intelligent Agreement Management platform,\" said Allan Thygesen, CEO of Docusign. \"In Q1, we continued to stabilize the business and improve profitability, allowing Docusign to continue investing for long term growth.\"\nFirst Quarter Financial Highlights\nTotal revenue was $709.6 million, an increase of 7% year-over-year. Subscription revenue was $691.5 million, an increase of 8% year-over-year. Professional services and other revenue was $18.2 million, a decrease of 18% year-over-year.Billings were $709.5 million, an increase of 5% year-over-year.GAAP gross margin was 78.9% compared to 79.4% in the same period last year. Non-GAAP gross margin was 82.0% compared to 82.6% in the same period last year.GAAP net income per basic share was $0.16 on 206 million shares outstanding compared to $0.00 on 203 million shares outstanding in the same period last year.GAAP net income per diluted share was $0.16 on 210 million shares outstanding compared to $0.00 on 208 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.82 on 210 million shares outstanding compared to $0.72 on 208 million shares outstanding in the same period last year.Net cash provided by operating activities was $254.8 million compared to $233.6 million in the same period last year.Free cash flow was $232.1 million compared to $214.6 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.2 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: \nLaunches Docusign IAM (\"Intelligent Agreement Management\"): Docusign announced a significant expansion...

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