Press release
DocuSign Announces Fourth Quarter and Fiscal Year 2020 Financial Results
SAN FRANCISCO, March 12, 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, March 12, 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 fourth quarter and fiscal year ended. \n\n \n \n \n \n \n \n\n \n\"The fourth quarter wrapped up an exceptional year for DocuSign,\" said Dan Springer, CEO of DocuSign. \"Since introducing the DocuSign Agreement Cloud a year ago, we have dramatically broadened our offerings while maintaining strong growth from eSignature. With our latest move—the proposed acquisition of contracts AI pioneer Seal Software—we are continuing our drive to make organizations' end-to-end agreement processes faster, simpler, and smarter.\"\nFourth Quarter Financial Highlights\nTotal revenue was $274.9 million, an increase of 38% year-over-year. Subscription revenue was $258.1 million, an increase of 38% year-over-year. Professional services and other revenue was $16.8 million, an increase of 38% year-over-year. Billings were $366.9 million, an increase of 40% year-over-year. GAAP gross margin was 75%, compared to 74% in the same period last year. Non-GAAP gross margin was 79% compared to 78% in the same period last year. GAAP net loss per basic and diluted share was $0.26 on 181 million shares outstanding compared to $0.40 on 167 million shares outstanding in the same period last year. Non-GAAP net income per diluted share was $0.12 on 194 million shares outstanding compared to $0.06 on 188 million shares outstanding in the same period last year. Net cash provided by operating activities was $45.5 million compared to $34.1 million in the same period last year. Free cash flow was $15.5 million compared to $22.8 million in the same period last year. Cash, cash equivalents, restricted cash and investments were $896.2 million at the end of the quarter. Fiscal 2020 Financial Highlights\nTotal revenue was $974.0 million, an increase of 39% year-over-year. Subscription revenue was $918.5 million, an increase of 38% year-over-year. Professional services and other revenue was $55.5 million, an increase of 49% year-over-year. Billings were $1.1 billion, an increase of 38% year-over-year. GAAP gross margin was 75%, compared to 73% in fiscal 2019. Non-GAAP gross margin was 79% compared to 80% in fiscal 2019. GAAP net loss per basic and diluted share was $1.18 on 177 mil...