Press release
DocuSign Announces Third Quarter Fiscal 2022 Financial Results
SAN FRANCISCO, Dec. 2, 2021 /PRNewswire/ -- DocuSign, Inc. (NASDAQ: DOCU), which offers the world's #1 e-signature solution as part of the DocuSign Agreement
About this update from Docusign, Inc.
[{"type":"text","content":"SAN FRANCISCO, Dec. 2, 2021 /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 fiscal quarter ended October 31, 2021.\n\n \n \n \n \n \n \n\n \n\"Third quarter revenue growth of 42% year-over-year and operating margin of 22% exceeded our expectations. After six quarters of accelerated growth, we saw customers return to more normalized buying patterns, resulting in 28% year-over-year billings growth,\" said Dan Springer, CEO of DocuSign. \"With a $50 billion TAM and 1.11 million customers worldwide, we are confident in the value DocuSign delivers in an increasingly digital anywhere economy.\"\nThird Quarter Financial Highlights\nTotal revenue was $545.5 million, an increase of 42% year-over-year. Subscription revenue was $528.6 million, an increase of 44% year-over-year. Professional services and other revenue was $16.9 million, an increase of 4% year-over-year. Billings were $565.2 million, an increase of 28% year-over-year. GAAP gross margin was 79% compared to 74% in the same period last year. Non-GAAP gross margin was 82% compared to 79% in the same period last year. GAAP net loss per basic and diluted share was $0.03 on 198 million shares outstanding compared to $0.31 on 186 million shares outstanding in the same period last year. Non-GAAP net income per diluted share was $0.58 on 208 million shares outstanding compared to $0.22 on 206 million shares outstanding in the same period last year. Net cash provided by operating activities was $105.4 million compared to $57.4 million in the same period last year. Free cash flow was $90.0 million compared to $38.1 million in the same period last year. Cash, cash equivalents, restricted cash and investments were $908.2 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 3. DocuSign recently announced several exciting new product capabilities to help businesses move forward including: DocuSign eSignature enhancements such as Delegated Signing, Recipient...