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Apr 30, 2021
DocuSign Q1 2022 Earnings Report
DocuSign's financial performance significantly improved, marked by substantial revenue growth and increased customer adoption.
Key Takeaways
DocuSign announced strong first-quarter results, with total revenue reaching $469.1 million, a 58% year-over-year increase. The company's subscription revenue grew by 61% year-over-year, and billings increased by 54%. DocuSign also added its millionth customer to the platform.
Total revenue increased by 58% year-over-year, reaching $469.1 million.
Subscription revenue grew by 61% year-over-year, amounting to $451.9 million.
Billings increased by 54% year-over-year, totaling $527.4 million.
The company added its millionth customer to the DocuSign platform.
DocuSign
DocuSign
DocuSign Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services and other Revenue
CapyFin.com Forward Guidance
DocuSign provided revenue and billings guidance for the quarter ending July 31, 2021, and for the year ending January 31, 2022.
Positive Outlook
- Expects total revenue between $479 million and $485 million for the quarter ending July 31, 2021.
- Anticipates subscription revenue between $459 million and $465 million for the quarter ending July 31, 2021.
- Projects billings between $549 million and $561 million for the quarter ending July 31, 2021.
- Forecasts total revenue between $2,027 million and $2,039 million for the year ending January 31, 2022.
- Estimates subscription revenue between $1,953 million and $1,965 million for the year ending January 31, 2022.
Challenges Ahead
- Non-GAAP gross margin is expected to be between 79% and 81% for the quarter ending July 31, 2021.
- Non-GAAP operating margin is projected to be between 16% and 18% for the quarter ending July 31, 2021.
- Non-GAAP diluted weighted-average shares outstanding are expected to be between 205 million and 210 million for the quarter ending July 31, 2021.
- Non-GAAP gross margin is expected to be between 79% and 81% for the year ending January 31, 2022.
- Non-GAAP operating margin is projected to be between 16% and 18% for the year ending January 31, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income