Slide 1: Bringing Agreements to Life
Bringing Agreements to Life Q1 FY26
Slide 2: Safe Harbor
Safe Harbor This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act our ability to expand use cases within existing customers and vertical solutions; our ability to expand our of 1933, as amended, and Section 21E of the Securities Exchange Act of
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 When evaluating the performance of our business and making operating plans, we do not consider these items GAAP, we use certain non-GAAP financial m
Slide 4: At a glance
At a glance Our solution Trusted, global brand1 Q1 FY262 performance Over 1.7M customers and Over 95% of 3 Intelligent Agreement Management more than 1 billion users Fortune 500 companies are $764M $740M in over Docusign Total Revenue Billings (28% Int’l) 4% Y/Y growth Unleashing the value of agreem
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: The Agreement Trap destroys value for your business
The Agreement Trap destroys value for your business Sales Sales velocity slows, deals slip, and revenue is lost Procurement Value erodes as terms, SLAs, and obligations remain buried in flat files 18% On average, companies Legal spend an extra 18% of Teams struggle to keep pace and lurking risks go un
Slide 7: Our Solution
Our Solution Unleashing the value of agreement data to power every company 7
Slide 8: Create Commit Manage
Create Commit Manage agreements in accessible, to agreements & agreements seamlessly in collaborative, & more relationships on a trusted ways that connect to automated ways platform your other systems 8
Slide 9: Docusign IAM Platform Transform the way you agree
Docusign IAM Platform Transform the way you agree 9
Slide 10: Investing in international growth
Investing in international growth 10% Y/Y Int’l revenue growth Digital (Q1FY26)1 180+ Countries 28% of Total revenue Direct (Q1FY26)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
Slide 11: 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 12: 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 61% ≤12 month duration 19 MONTHS 39% >12 month duration Add-on Functionality Multiple levels of add-on functionality (1
Slide 13: Docusign partner ecosystem
Docusign partner ecosystem Comprehensive network of cloud, service, and reseller partners ISVs (and 350+ more) Systems Integrators 500+ certified professionals across 10+ global & regional SIs Resellers 140+ resellers extend our reach, helping customers agree in 40+ countries 13
Slide 14: Financial Review
Financial Review ® docusign.
Slide 15: Total revenue growth
Total revenue growth Y/Y Growth 7% 7% 8% 9% 8% Revenue Contribution1 Direct v. Digital 85% 15% Ent, Commercial Web & Mobile & SMB (Digital) (Direct) (1) Fiscal quarter ended April 30, 2025. 15
Slide 16: Subscription revenue growth
Subscription revenue growth Y/Y 8% 7% 8% 9% 8% Revenue Contribution1 Growth Subscription v. Pro Serve and Other 98% 2% Subscription Professional Services & Other (1) Fiscal quarter ended April 30, 2025. 16
Slide 17: Billings growth
1 Billings Y/Y Growth 5% 2% 9% 11% 4% growth Rolling 4-Q Y/Y growth 2 8% 6% 7% 7% 7% (1) Billings = total revenues plus the change in contract liabilities and refund liability less contract assets and unbilled accounts receivable in a given period. Please see Appendix for non-GAAP reconciliation. (2
Slide 18: Healthy operating efficiency
Healthy operating efficiency Non-GAAP gross margin1 Headcount2 SUBSCRIPTION GROSS MARGIN TOTAL GROSS MARGIN (1) Margins are as % of total revenue. Please see Appendix for non-GAAP reconciliation. (2) As of April 30, 2024 and 2025. 18
Slide 19: Operating expenses as a % of revenue
Operating expenses as a % of revenue Non-GAAP S&M1 Non-GAAP R&D1 Non-GAAP G&A1 32.5% 30.4% 31.3% 31.9% 31.8% 12.3% 12.6% 12.8% 13.0% 13.1% 8.7% 7.0% 8.8% 8.6% 7.9% (1) Please see Appendix slides for non-GAAP reconciliation. 19
Slide 20: Operating leverage and cash flow
Operating leverage and cash flow Non-GAAP Operating Income1 Operating Cash Flow1 Free Cash Flow2 % of total revenue 28.5% 32.2% 29.6% 28.8% 29.5% 36% 30% 31% 40% 33% 33% 27% 28% 36% 30% (1) Please see Appendix slides for non-GAAP reconciliation. (2) FCF calculated as Operating Cash Flow less CapEx. P
Slide 21: Q2 FY26 guidance
Q2 FY26 guidance Q2 FY26 Total revenue1 $777M - $781M Subscription revenue $760M - $764M Billings2 $757M - $767M Non-GAAP gross margin 80.5% - 81.5% Non-GAAP operating margin 26.5% - 27.5% Non-GAAP diluted weighted- 210M - 215M average shares outstanding (1) Impact of foreign currency exchange rates
Slide 22: FY26 guidance
FY26 guidance FY26 Total revenue1 $3,151M - $3,163M Subscription revenue $3,083M - $3,095M Billings2 $3,285M - $3,339M Non-GAAP gross margin 80.7% - 81.7% Non-GAAP operating margin 27.8% - 28.8% Non-GAAP diluted weighted- 210M - 215M average shares outstanding (1) Impact of foreign currency exchange
Slide 23: Modeling considerations
Modeling considerations Topline Considerations: For both Q2 and Fiscal 2026, we expect a positive billings impact of approximately 0.7% year-over-year, and for revenue an Foreign Exchange (F/X) approximately neutral year-over-year impact. This compares to the prior expected negative headwinds of app
Slide 24: Modeling considerations
Modeling considerations Profitability Considerations: We continue to expect an approximate 1% point headwind due to the ongoing cloud migration for the full year Fiscal 2026. In Q1, Non-GAAP Gross gross margin was higher than forecasted due to higher revenue and a lower headwind due to slight shifts
Slide 25: Appendix
Appendix 25
Slide 26: Financial & operational metrics
Financial & operational metrics Financial Metrics ($ in M) Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Revenue $710 $736 $755 $776 $764 % Y/Y Change 7% 7% 8% 9% 8% Subscription Revenue $691 $717 $735 $758 $746 % Y/Y Change 8% 7% 8% 9% 8% International Revenue $197 $207 $212 $219 $217 % Y/Y Change 17% 15% 14%
Slide 27: GAAP to Non-GAAP gross profit reconciliation
GAAP to Three Months Ended April 30, Gross Profit ($ in thousands) 2025 2024 Non-GAAP GAAP gross profit 606,385 560,194 Add: Stock-based compensation 16,904 18,883 gross profit Add: Amortization of acquisition-related intangibles 3,565 2,070 Add: Employer payroll tax on employee stock transactions 1,87
Slide 28: GAAP to Non-GAAP operating income and free cash flow reconciliation
Three Months Ended April 30, GAAP to Operating Income ($ in thousands) GAAP income from operations 2025 60,255 2024 22,628 Non-GAAP Add: Stock-based compensation Add: Amortization of acquisition-related intangibles 145,596 6,919 137,876 4,699 operating income Add: Employer payroll tax on employee st
Slide 29: GAAP to Non-GAAP operating expenses reconciliation
GAAP to Three Months Ended April 30, Sales & Marketing ($ in thousands) 2025 2024 Non-GAAP GAAP sales and marketing 296,413 281,644 Less: Stock-based compensation (46,085) (46,271) operating Less: Amortization of acquisition-related intangibles (3,354) (2,629) Less: Employer payroll tax on employee
Slide 30: Computation of billings
Computation of billings Three Months Ended April 30, Computation of Billings ($ in thousands) 2025 2024 Revenue 763,654 709,640 Add: Contract liabilities and refund liability, end of period 1,450,718 1,340,680 Less: Contract liabilities and refund liability, beginning of period (1,479,266) (1,343,79
Slide 31: docusign.
my docusign.