Press release
DocuSign Announces Fourth Quarter and Fiscal Year 2023 Financial Results
SAN FRANCISCO, March 9, 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, March 9, 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 fourth quarter and fiscal year ended January 31, 2023.\n\"We finished the year strong, delivering across our key financial metrics and making tangible progress on our strategic priorities. We are reshaping DocuSign to invest in our innovation roadmap and self-service capabilities,\" said Allan Thygesen, CEO of DocuSign. \"Looking ahead, we aim to drive profitable growth at scale by executing our mission of smarter, easier, and trusted agreements.\"\nFourth Quarter Financial Highlights\nTotal revenue was $659.6 million, an increase of 14% year-over-year. Subscription revenue was $643.7 million, an increase of 14% year-over-year. Professional services and other revenue was $15.9 million, a decrease of 5% year-over-year.Billings were $739.0 million, an increase of 10% year-over-year.GAAP gross margin was 79%, compared to 77% 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 $0.02 on 202 million shares outstanding compared to a loss of $0.15 on 199 million shares outstanding in the same period last year.GAAP net income per diluted share was $0.02 on 206 million shares outstanding compared to a loss of $0.15 on 199 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.65 on 206 million shares outstanding compared to $0.48 on 207 million shares outstanding in the same period last year.Net cash provided by operating activities was $137.1 million compared to $87.8 million in the same period last year.Free cash flow was $113.0 million compared to $70.3 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.2 billion at the end of the quarter.Fiscal 2023 Financial Highlights\nTotal revenue was $2.5 billion, an increase of 19% year-over-year. Subscription revenue was $2.4 billion, an increase of 20% year-over-year. Professional services and other revenue was $73.7 million, an increase of 5% year-over-year.Billings were $2.7 billion, an increase of 13% year-over-year.GAAP gross margin was 79%, compared to 78% in fiscal 2022. Non-GAAP gross margin was 82% for both peri...