Press release
DocuSign Announces Second Quarter Fiscal 2024 Financial Results; Announces Increase to Share Repurchase Program
SAN FRANCISCO, Sept. 7, 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, Sept. 7, 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 fiscal quarter ended July 31, 2023.\n\"Our results for the first half were solid and reflect strong progress on our business transformation,\" said Allan Thygesen, CEO of DocuSign. \"We increased our pace of innovation by delivering key new features, while strengthening our self-service and partner distribution channels, and we've received tremendous enthusiasm on our product roadmap, particularly from our enterprise customers.\"\nSecond Quarter Financial Highlights\nTotal revenue was $687.7 million, an increase of 11% year-over-year. Subscription revenue was $669.4 million, an increase of 11% year-over-year. Professional services and other revenue was $18.3 million, an increase of 8% year-over-year.Billings were $711.2 million, an increase of 10% year-over-year.GAAP gross margin was 79% compared to 78% in the same period last year. Non-GAAP gross margin was 82% for both periods.GAAP net income per basic share was $0.04 on 204 million shares outstanding compared to a loss of $0.22 on 201 million shares outstanding in the same period last year.GAAP net income per diluted share was $0.04 on 208 million shares outstanding compared to a loss of $0.22 on 201 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.72 on 208 million shares outstanding compared to $0.44 on 206 million shares outstanding in the same period last year.Net cash provided by operating activities was $211.0 million compared to $120.9 million in the same period last year.Free cash flow was $183.6 million compared to $105.5 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.5 billion 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:\n• DocuSign 2023 Release 2. DocuSign announced new product capabilities with highlights in the following areas:Liveness Detection for ID Verification: DocuSign launched enhanced iden...