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Apr 30, 2022
DocuSign Q1 2023 Earnings Report
DocuSign's first quarter results for fiscal year 2023 were announced, showcasing revenue growth and customer acquisition.
Key Takeaways
DocuSign reported solid first-quarter results with a 25% year-over-year revenue increase, reaching $588.7 million. The company added nearly 67,000 new customers, expanding its global customer base to 1.24 million. Key leadership appointments were also made to bolster the company's growth and scalability.
Total revenue reached $588.7 million, a 25% increase year-over-year.
Subscription revenue grew to $569.3 million, up by 26% year-over-year.
Billings increased by 16% year-over-year, totaling $613.6 million.
The company added approximately 67,000 new customers, bringing the total customer base to 1.24 million.
DocuSign
DocuSign
DocuSign Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services and other Revenue
CapyFin.com Forward Guidance
The company expects total revenue between $600 million and $604 million for the quarter ending July 31, 2022. They anticipate subscription revenue between $583 million and $587 million and billings between $599 million and $609 million.
Positive Outlook
- Total revenue is expected to be between $600 million and $604 million.
- Subscription revenue is projected to be between $583 million and $587 million.
- Billings are anticipated to be between $599 million and $609 million.
- Non-GAAP gross margin is expected to be between 79% and 81%.
- Non-GAAP operating margin is projected to be between 16% and 18%.
Challenges Ahead
- Stock-based compensation expense cannot be reasonably calculated or predicted at this time.
- Guidance of non-GAAP financial measures cannot be reconciled to the corresponding GAAP measures.
- Uncertainties regarding the impact of general economic and market conditions.
- Risks related to the company's ability to manage growth and future expenses.
- Potential impacts from increased competition in the market.
Revenue & Expenses
Visualization of income flow from segment revenue to net income