Press release
DocuSign Announces Second Quarter Fiscal 2021 Financial Results
SAN FRANCISCO, Sept. 3, 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, Sept. 3, 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 fiscal quarter ended July 31, 2020.\n\n \n \n \n \n \n \n\n \n\"In an accelerating digital world where business can be conducted from anywhere, the need to agree electronically and remotely has never been stronger, as shown in our 61% year-over-year billings growth,\" said Dan Springer, CEO of DocuSign. \"We are just scratching the surface of our Agreement Cloud opportunity and believe we are increasingly becoming an essential cloud-software platform for organizations of all sizes.\"\nSecond Quarter Financial Highlights\nTotal revenue was $342.2 million, an increase of 45% year-over-year. Subscription revenue was $323.6 million, an increase of 47% year-over-year. Professional services and other revenue was $18.6 million, an increase of 25% year-over-year. Billings were $405.7 million, an increase of 61% year-over-year. GAAP gross margin was 74% in both comparative periods. Non-GAAP gross margin was 78% in both comparative periods. GAAP net loss per basic and diluted share was $0.35 on 185 million shares outstanding compared to $0.39 on 175 million shares outstanding in the same period last year. Non-GAAP net income per diluted share was $0.17 on 203 million shares outstanding compared to $0.01 on 189 million shares outstanding in the same period last year. Net cash provided by operating activities was $118.1 million compared to $26.4 million in the same period last year. Free cash flow was $99.8 million compared to $11.9 million in the same period last year. Cash, cash equivalents, restricted cash and investments were $740.6 million 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\nDocuSign Agreement Cloud 2020 Product Release 2. DocuSign introduced several new features and enhancements in the latest release to support customers in their digital transformations: DocuSign eSignature for Workplace from Facebook, which allows access to DocuSign eSignature via a chatbot with...