Slide 1: Bringing Agreements to Life
Bringing Agreements to Life Quarterly Results Q2 FY27
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act existing and future products and to successfully deploy them; our ability to successfully develop, launch, and of 1933, as amended, and Section 21E of the Securities Exchange Act
Slide 3: Non-GAAP financial measures and other key metrics
Non-GAAP financial measures and other key metrics To supplement our consolidated financial statements, which are prepared and presented in accordance with U.S. Free cash flow: We define free cash flow as net cash provided by operating activities less purchases of GAAP, we use certain non-GAAP financial me
Slide 4: At a glance
At a glance Our solution Trusted, global brand1 Q2 FY272 performance More than Intelligent Agreement Management 1.9M+ 1 billion users in over $876M customers 180 countries Revenue 9% Y/Y growth Unleashing the value of agreement data across the globe International: 31% of total revenue to power every
Slide 5: Agreements power business
Agreements power business Sales HR Sales Contracts Offer Letters NDAs Background Checks SOWs Company Policies Service Procurement Field Service Vendor Contracts Change Orders Purchase Orders Work Agreements Termination Letters Marketing Legal Vendor Agreements Amendments Sponsor Agreements Affidavits
Slide 6: Poor agreement management is driven by three root causes
Poor agreement management is driven by three root causes Fragmented Processes Disconnected Tools Underleveraged Data Docusign Confidential 6
Slide 7: Our Solution
Our Solution Unleashing the value of agreement data to power every company 7
Slide 8: Intelligent Agreement Management Platform
Intelligent Agreement Management Platform An agreement management platform that scales with your business 8
Slide 9: Docusign Journey
Docusign Journey Today Intelligent Agreement Management (IAM) Relentless Innovation. Repository Driven by Customers’ Needs. Value Realization Capture value trapped in agreements AI extractions Obligation management Better Experiences Workflow automation 2018-2023 Create lasting people experiences Par
Slide 10: Docusign addresses the entire agreement process
Docusign addresses the entire agreement process Accelerate deal execution and team efficiency Create Commit Manage Create Collect Generate Automate Commit via Manage Gain insights automation with information agreement and reviews signature renewals and from reporting workflows where you work tasks obl
Slide 11: Value Realized
1 We’re helping 40K customers advance 3 hundreds of millions agreements2 with IAM Of high performing organizations credit contract management for their success — Deloitte Digitize Centralize Standardize Automate Optimize Electronically Consolidate all Drive consistency Scale operations Monitor and e
Slide 12: Omni-channel experience throughout the customer journey
Omni-channel experience throughout the customer journey Extend Expand From eSignature to Direct Partner agreement process customer integrations From single Digital department customer to enterprise-wide From digital Signers to direct Across all GTM teams Paying web Accelerate value realization custo
Slide 13: Investing in international growth
Investing in international growth 17% Y/Y Int’l revenue growth Digital (Q2FY27)1 180+ Countries 31% of Revenue Direct (Q2FY27)1 Focus 8 Market prioritization & investment Tier 1: Market leader Tier 2: Seed and grow Tier 3: Digital & emerging Primary market focus for Direct GTM investment High potent
Slide 14: How customers buy from us
How customers buy from us Prepaid Model Multi-Factor Dollar Weighted Subscription Model Average Contract Length1 Volume Capacity Pre-Set # of Envelopes Seat Based Contract per user 65% ≤12 month duration 18 MONTHS 35% >12 month duration Add-on Functionality Multiple levels of add-on functionality (1
Slide 15: Docusign partner ecosystem
Docusign partner ecosystem Comprehensive network of cloud, service, and reseller partners1 Integrate & Optimize 1,100+ active integrations & solutions AI, LLM, & Legal MCP Integrations Advise & Implement Certified professionals across global & regional SIs Market Reach & Customer Trust Resellers & Di
Slide 16: Financial Review
Financial Review ® docusign.
Slide 17: Revenue growth
Revenue growth Annual Revenue Quarterly Revenue Direct v. Digital Contribution1 Y/Y Growth Y/Y Growth 10% 8% 8% 9% 8% 8% 9% 9% 84% of Revenue Enterprise, Commercial & SMB (Direct) 16% of Revenue Web & Mobile (Digital) (1) Fiscal quarter ended July 31, 2026. 17
Slide 18: Annual recurring revenue (ARR) | IAM % ARR
Annual recurring revenue (ARR) | IAM % ARR1 Y/Y 8.0% 8.0% 8.8% Growth 2 (1) We calculate Annual Recurring Revenue (“ARR”) as the annualized value of active customer contracts as of the measurement date. This calculation assumes that any contract expiring within the next 12 months renews on its exist
Slide 19: Healthy operating efficiency
Healthy operating efficiency Non-GAAP Total Gross Margin1 Headcount2 Annual Quarterly (1) Margins are as % of Revenue. Please see Appendix for non-GAAP reconciliation. (2) As of end of each fiscal quarter 19
Slide 20: Healthy operating efficiency
Healthy operating efficiency Non-GAAP Operating Margin1 Free Cash Flow Margin2 Annual Quarterly Annual Quarterly (1) Please see Appendix slides for non-GAAP reconciliation. (2) FCF calculated as Operating Cash Flow less CapEx. Please see Appendix for non-GAAP reconciliation. 20
Slide 21: Operating expenses as a % of revenue
Operating expenses as a % of revenue Non-GAAP S&M1 Non-GAAP R&D1 Non-GAAP G&A1 31.2% 29.7% 30.6% 29.8% 29.9% 13.1% 12.8% 12.8% 12.2% 12.1% 7.9% 7.9% 8.9% 7.5% 8.1% (1) Please see Appendix slides for non-GAAP reconciliation. 21
Slide 22: Q3 FY27 guidance
Q3 FY27 guidance Q3 FY27 YoY Midpoint Change Revenue1 $886M - $890M 9% Non-GAAP gross margin 81.5% - 81.9% NA Non-GAAP operating margin 31.3% - 31.7% NA Non-GAAP diluted weighted- 191M - 196M NA average shares outstanding (1) Excluding the impact of foreign currency exchange rates on year-over-year
Slide 23: FY27 guidance
FY27 guidance FY27 YoY Midpoint Change Revenue1 $3,499M - $3,507M 9% ARR year-over-year growth rate 8.5% - 9.0% 8.75% Non-GAAP gross margin 81.5% - 82.0% NA Non-GAAP operating margin 31.0% - 31.5% NA Non-GAAP diluted weighted- 190M - 195M NA average shares outstanding (1) Excluding the impact of for
Slide 24: Topline modeling considerations
Topline modeling considerations We expect that IAM will represent approximately 18% to 19% of total ARR exiting Q4 of Fiscal 2027, up from 10.8% IAM of total ARR exiting Q4 of Fiscal 2026. As a reminder, we experienced a tailwind from new digital add-on revenue in Fiscal 2026 and a headwind in Fisca
Slide 25: Profitability modeling considerations
Profitability modeling considerations Cloud Migration Impact: Fiscal 2026 represented the peak of our migration expenses, we expect the Non-GAAP Gross growth of these costs to decelerate in Fiscal 2027 and beyond. As a result, we anticipate gross margins Margin to remain approximately flat on a year-o
Slide 26: Profitability modeling considerations (cont.)
Profitability modeling considerations (cont.) Fiscal 2027: We continue to expect the relationship between full-year free cash flow margin and Free Cash Flow (FCF) Non-GAAP operating margin to be similar to that in Fiscal 2026. Non-GAAP Fully Diluted Weighted We expect non-GAAP fully diluted weighted a
Slide 27: Topline Non-GAAP disclosure updates
Topline Non-GAAP disclosure updates Reminders for FY27 Actuals Guidance Annual: Starting in Q4’26, we are disclosing year-end ARR Annual: Year-end only during Q4 quarterly results for the Annual Recurring during Q4 quarterly results, including historical data for upcoming year’s full-year ARR. Reven
Slide 28: Appendix
Appendix 28
Slide 29: Financial & operational metrics
Financial & operational metrics (1) We calculate Annual Recurring Revenue (“ARR”) as the annualized value of active customer contracts as of the measurement date. This calculation assumes that any contract expiring within the next 12 months renews on its existing terms, and excludes non-recurring re
Slide 30: GAAP to Non-GAAP gross profit
Three Months Ended July 31, Six Months Ended July 31, GAAP to Gross Profit (in $ thousands) 2026 2025 2026 2025 Non-GAAP GAAP gross profit Add: Stock-based compensation 697,874 15,241 635,173 18,592 1,356,839 30,550 1,241,558 35,496 gross profit Add: Employer payroll tax on employee stock transactions
Slide 31: GAAP to Non-GAAP operating expenses
Three Months Six Months Ended July 31, Ended July 31, GAAP to Sales & Marketing (in $ thousands) GAAP sales and marketing 2026 313,958 2025 305,450 2026 610,133 2025 601,863 Non-GAAP Less: Stock-based compensation (46,828) (49,081) (89,854) (95,166) operating Less: Employer payroll tax on employee s
Slide 32: GAAP to Non-GAAP operating income and free cash flow
Three Months Ended July 31, Six Months Ended July 31, GAAP to Operating Income (in $ thousands) 2026 2025 2026 2025 GAAP income from operations 117,621 65,227 228,930 125,482 Non-GAAP Add: Stock-based compensation Add: Employer payroll tax on employee stock 148,604 160,538 289,981 306,134 operating
Slide 33: docusign.
my docusign.