Press release
DocuSign Announces Third Quarter Fiscal 2024 Financial Results
SAN FRANCISCO, Dec. 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, Dec. 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 October 31, 2023.\n\n \n \n \n \n \n \n\n \n\"DocuSign had a solid third quarter, delivering record non-GAAP operating margin and free cash flow,\" said Allan Thygesen, CEO of DocuSign. \"We are making progress on product innovation, go-to-market effectiveness, and operational efficiency as we build on our considerable scale and trusted market position and expand beyond e-signature into intelligent agreement management.\"\nThird Quarter Financial Highlights\nTotal revenue was $700.4 million, an increase of 9% year-over-year. Subscription revenue was $682.4 million, an increase of 9% year-over-year. Professional services and other revenue was $18.1 million, a decrease of 16% year-over-year.Billings were $691.8 million, an increase of 5% year-over-year.GAAP gross margin was 80% for both periods. Non-GAAP gross margin was 83% for both periods.GAAP net income per basic share was $0.19 on 204 million shares outstanding compared to a loss of $0.15 on 201 million shares outstanding in the same period last year.GAAP net income per diluted share was $0.19 on 208 million shares outstanding compared to a loss of $0.15 on 201 million shares outstanding in the same period last year.Non-GAAP net income per diluted share was $0.79 on 208 million shares outstanding compared to $0.57 on 206 million shares outstanding in the same period last year.Net cash provided by operating activities was $264.2 million compared to $52.5 million in the same period last year.Free cash flow was $240.3 million compared to $36.1 million in the same period last year.Cash, cash equivalents, restricted cash and investments were $1.7 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:\n2023 Gartner Magic Quadrant Leader: For the fourth year in a row, DocuSign was named a Leader in the 2023 Magic Quadrant for Contract Life Cycle Manager report by Gartner, Inc. This year, among the 16 ve...