Press release
DocuSign Announces Fourth Quarter and Fiscal Year 2024 Financial Results
SAN FRANCISCO, March 7, 2024 /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 7, 2024 /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, 2024.\n\n \n \n \n \n \n \n\n \n\"DocuSign ended Fiscal 2024 with momentum in product innovation, customer growth, and financial performance, including more than doubling free cash flow year-over-year,\" said Allan Thygesen, CEO of DocuSign. \"The agreement management opportunity is massive, and we're excited to deliver category-defining innovation to our 1.5 million customers in Fiscal 2025 and beyond.\"\nFourth Quarter Financial Highlights\nTotal revenue was $712.4 million, an increase of 8% year-over-year. Subscription revenue was $695.7 million, an increase of 8% year-over-year. Professional services and other revenue was $16.7 million, an increase of 5% year-over-year.Billings were $833.1 million, an increase of 13% year-over-year.GAAP gross margin was 79% for both periods. Non-GAAP gross margin was 82% compared to 83% in the same period last year.GAAP net income per basic share was $0.13 on 206 million shares outstanding compared to $0.02 on 202 million shares outstanding in the same period last year.GAAP net income per diluted share was $0.13 on 210 million shares outstanding compared to $0.02 on 206 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.76 on 210 million shares outstanding compared to $0.65 on 206 million shares outstanding in the same period last year.Net cash provided by operating activities was $270.7 million compared to $137.1 million in the same period last year.Free cash flow was $248.6 million compared to $113.0 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.2 billion at the end of the quarter. During the quarter, the company repaid $689.9 million principal amount of our 2024 convertible senior notes.Fiscal 2024 Financial Highlights\nTotal revenue was $2.8 billion, an increase of 10% over the prior year. Subscription revenue was $2.7 billion, an increase of 10% over the prior year. Professional services and other revenue was $75.2 million, an increase of 2% year-over-year.Billings were $2.9 billion, an increase of 9% over the prior year.GAAP gross margin was ...