DocuSign (NASDAQ: DOCU) Move Down -40.25% after release of Third Quarter Fiscal 2022 Financial Results

DocuSign (NASDAQ: DOCU) Move:

DocuSign (NASDAQ: DOCU) changed -40.25% to recent value of $ 139.71. The stock transacted shares during most recent the day were 42460105 shares however it has an average volume of 2.28M shares. It spotted trading -55.61% off of the 52-week high price. On the other end, the stock has been noted -22.16% away from the low price over the last 52-weeks.

DOCU [NASD] has a gross margin of 76.70% as compared to operating margin of -7.80% and its profit margin remained -9.20% for the last 12 months. The company has earnings of $ -164.80M and made $1.79B revenue for the last 12 month. Its earnings per share (EPS) expected to touch remained -11.10% for this year while earning per share for the next 5-years is expected to reach at 46.80%.

The company has 196.00M of outstanding shares and 192.37M shares were floated in the market. According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -45.72% from the mean of 20 days, -47.03% from 50 and performed -44.56% from 200 days average price. Company’s performance for the week was -3.96%, -17.04% for month and yearly performance remained 7.40%.

DocuSign (NASDAQ: DOCU) News:

DocuSign (NASDAQ: DOCU), which offers the world’s #1 e-signature solution as part of the DocuSign Agreement Cloud, announced results for its fiscal quarter ended October 31, 2021.

“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.”

Third Quarter Financial Highlights

  • Total 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.”

Operational and Other Financial Highlights

  • DocuSign Agreement Cloud 2020 Product Release 3. DocuSign recently announced several exciting new product capabilities to help businesses move forward including:
  • Expansion of Salesforce Partnership. On October 27, 2021DocuSign and Salesforce announced an expansion of their global strategic partnership to build new joint solutions that make it easier for customers to accelerate how agreements are facilitated around the world. New innovations will automate the contract process with AI-based, smart solutions that improve the customer experience of preparing, signing, and managing agreements, drive faster ROI, and increase collaboration amongst organizations with Slack functionality.
  • DocuSign Ventures. DocuSign introduced DocuSign Ventures, a new initiative dedicated to nurturing the growing ecosystem of entrepreneurs and startups that are changing the future of how we all will agree. Ventures will focus on co-investing in and partnering with companies raising early-stage funding to innovate around the agreement process. This includes technologies that facilitate pre-agreement work and negotiation, as well as the logistics and workflows after an agreement is signed. Ventures reinforces the company’s existing strategic investments and partnership efforts across the startup ecosystem.

Outlook

The company currently expects the following guidance:

Quarter ending January 31, 2022 (in millions, except percentages):
Total revenue $557 to $563
Subscription revenue $544 to $550
Billings $647 to $659
Non-GAAP gross margin 81% to 82%
Non-GAAP operating margin 17% to 19%
Non-GAAP diluted weighted-average shares outstanding 205 to 210
Year ending January 31, 2022 (in millions, except percentages):
Total revenue $2,083 to $2,089
Subscription revenue $2,017 to $2,023
Billings $2,335 to $2,347
Non-GAAP gross margin 81% to 82%
Non-GAAP operating margin 19% to 21%
Provision for income taxes $3 to $4
Non-GAAP diluted weighted-average shares outstanding 205 to 210

 

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Robert Warner

Robert Warner is a journalism graduate with keen interest in covering business news – specifically startups. He has as a keen eye for technologies and has predicted quite a few successful startups over the last couple of years. His goal with this website is to report accurately on all kinds of stock news, and have a great deal of passion for technical and active reporting. Robert is diligent and proactive when it comes to news reporting.

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