Slide 1: Bringing Agreements to Life
Bringing Agreements to Life Quarterly Results Q1 FY27
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 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 Q1 FY272 performance More than Intelligent Agreement Management ~1.9M 1 billion users in over $830M customers 180 countries Revenue (31% Int’l) Unleashing the value of agreement data across the globe 9% Y/Y growth to power every company Market leadersh
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 Today
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 agreements 2 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
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 (Q1FY27)1 180+ Countries 31% of Revenue Direct (Q1FY27)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 19 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 Revenue1 Direct v. Digital Contribution Y/Y Growth Y/Y Growth 10% 8% 8% 8% 9% 8% 8% 9% 85% of Revenue Enterprise, Commercial & SMB (Direct) 15% of Revenue Web & Mobile (Digital) (1) Fiscal quarter ended April 30, 2026. 17
Slide 18: Annual recurring revenue (ARR) | IAM % ARR
Annual recurring revenue (ARR) | IAM % ARR1 Y/Y Growth 8.0% 8.0% 8.5% (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 existin
Slide 19: Healthy operating efficiency (full year)
Healthy operating efficiency (full year) 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. 19
Slide 20: 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 20
Slide 21: Operating leverage and cash flow
Operating leverage and cash flow Non-GAAP Operating Income1 Operating Cash Flow Free Cash Flow2 % of revenue 29.5% 29.8% 31.4% 29.5% 32.0% 33% 31% 35% 45% 39% 30% 27% 32% 42% 35% (1) Please see Appendix slides for non-GAAP reconciliation. (2) FCF calculated as Operating Cash Flow less CapEx. Please s
Slide 22: Operating expenses as a % of revenue
Operating expenses as a % of revenue Non-GAAP S&M1 Non-GAAP R&D1 Non-GAAP G&A1 31.8% 31.2% 29.7% 30.6% 29.8% 13.1% 13.1% 12.8% 12.8% 12.2% 7.9% 7.9% 7.9% 8.9% 7.5% (1) Please see Appendix slides for non-GAAP reconciliation. 22
Slide 23: Q2 FY27 guidance
Q2 FY27 guidance Q2 FY27 YoY Midpoint Change Revenue1 $865M - $869M 8% Non-GAAP gross margin 81.5% - 81.7% NA Non-GAAP operating margin 29.7% - 30.2% 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 24: FY27 guidance
FY27 guidance FY27 YoY Midpoint Change Revenue1 $3,490M - $3,502M 9% ARR year-over-year growth rate 8.25% - 8.75% 8.50% Non-GAAP gross margin 81.5% - 82.0% NA Non-GAAP operating margin 30.5% - 31.0% NA Non-GAAP diluted weighted- 190M - 195M NA average shares outstanding (1) Excluding the impact of f
Slide 25: Modeling considerations
Modeling considerations Topline Considerations: We continue to expect that IAM will represent approximately 18% of total ARR exiting Q4 of Fiscal 2027, IAM up from 10.8% of total ARR exiting Q4 of Fiscal 2026. For revenue, we expect a headwind of approximately 1.8% point and 1.1% point year-over-yea
Slide 26: Modeling considerations
Modeling considerations Profitability Considerations: Cloud Migration Impact: Fiscal 2026 represented the peak of our migration expenses, and we expect Non-GAAP Gross the growth of these costs to decelerate in Fiscal 2027 and beyond. As a result, we anticipate gross Margin margins to remain approxima
Slide 27: Modeling considerations
Modeling considerations Profitability Considerations (Continued): 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 full
Slide 28: 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. Rev
Slide 29: Appendix
Appendix 29
Slide 30: 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 31: GAAP to Non-GAAP gross profit reconciliation
Three Months Ended April 30, GAAP to Gross Profit ($ in thousands) 2026 2025 GAAP gross profit 658,965 606,385 Non-GAAP Add: Stock-based compensation 15,309 16,904 Add: Employer payroll tax on employee stock transactions 1,126 1,873 gross profit Add: Amortization of acquisition-related intangibles Non-
Slide 32: GAAP to Non-GAAP operating expenses reconciliation
Three Months Ended April 30, GAAP to Sales & Marketing ($ in thousands) 2026 2025 GAAP sales and marketing 296,175 296,413 Non-GAAP Less: Stock-based compensation (43,026) (46,085) Less: Employer payroll tax on employee stock transactions (2,470) (3,940) operating Less: Amortization of acquisition-r
Slide 33: GAAP to Non-GAAP operating income and free cash flow reconciliation
Three Months Ended April 30, GAAP to Operating Income ($ in thousands) 2026 2025 GAAP income from operations 111,309 60,255 Non-GAAP Add: Stock-based compensation 141,377 145,596 Add: Employer payroll tax on employee stock transactions 8,185 12,259 operating income Add: Amortization of acquisition-r
Slide 34: docusign.
my docusign.