Press release
DocuSign Announces Fourth Quarter and Fiscal Year 2022 Financial Results
SAN FRANCISCO, March 10, 2022 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature solution as part of the DocuSign
About this update from Docusign, Inc.
[{"type":"text","content":"SAN FRANCISCO, March 10, 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 fourth quarter and fiscal year ended January 31, 2022. \n\n \n \n \n \n \n \n\n \n\"In fiscal 2022, we grew revenues by 45% and billings by 37% year-over year, while generating record operating and cash flow margins. While the year unfolded differently than expected, we are proud of the ongoing performance and resilience of our team as we scaled to become a multi-billion dollar company. Together, we helped another 280,000 new customers begin digitizing how they agree as we surpassed 1.17 million total customers overall, \" said Dan Springer, CEO of DocuSign. \" As we head into Fiscal 2023, digital transformation and the need to agree from anywhere remains a high priority for organizations across the globe. As people begin to return to the office, they are not returning to paper. eSignature and the broader Agreement Cloud will only continue to gain prominence in the evolving Anywhere Economy.\"\nFourth Quarter Financial Highlights\nTotal revenue was $580.8 million, an increase of 35% year-over-year. Subscription revenue was $564.0 million, an increase of 37% year-over-year. Professional services and other revenue was $16.8 million, a decrease of 19% year-over-year. Billings were $670.1 million, an increase of 25% year-over-year. GAAP gross margin was 77%, compared to 76% in the same period last year. Non-GAAP gross margin was 81% compared to 80% in the same period last year. GAAP net loss per basic and diluted share was $0.15 on 199 million shares outstanding compared to $0.38 on 189 million shares outstanding in the same period last year. Non-GAAP net income per diluted share was $0.48 on 207 million shares outstanding compared to $0.37 on 209 million shares outstanding in the same period last year. Net cash provided by operating activities was $87.8 million compared to $62.2 million in the same period last year. Free cash flow was $70.3 million compared to $44.0 million in the same period last year. Cash, cash equivalents, restricted cash and investments were $898.4 million at the end of the quarter.Fiscal 2022 Financial Highlights\nTotal revenue was $2.1 billion, an increase of 45% year-over-year. Subscription revenue was $2.0 bill...