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Oct 31, 2020
DocuSign Q3 2021 Earnings Report
DocuSign's Q3 2021 financial results reflected strong growth driven by digital transformation and the value customers see in eSignature and the Agreement Cloud.
Key Takeaways
DocuSign announced its Q3 Fiscal Year 2021 financial results, with total revenue reaching $382.9 million, a 53% increase year-over-year. The company's growth is attributed to the acceleration of digital transformation among businesses and the increasing recognition of DocuSign's platform as essential.
Total revenue was $382.9 million, up 53% year-over-year.
Subscription revenue reached $366.6 million, a 54% increase year-over-year.
Billings increased by 63% year-over-year, totaling $440.4 million.
Free cash flow was $38.1 million, compared to negative $14.1 million in the same period last year.
DocuSign
DocuSign
DocuSign Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services and other Revenue
CapyFin.com Forward Guidance
The company expects the following for the quarter ending January 31, 2021: Total revenue between $404 million and $408 million, subscription revenue between $384 million and $388 million and billings between $512 million and $522 million.
Positive Outlook
- Total revenue between $404 million and $408 million
- Subscription revenue between $384 million and $388 million
- Billings between $512 million and $522 million
- Non-GAAP gross margin between 78% and 80%
- Non-GAAP diluted weighted-average shares outstanding 205 to 210
Challenges Ahead
- Non-GAAP interest and other income (expense) $(1) to $1 million
- Provision for income taxes $2 to $3 million
- Non-GAAP sales and marketing 42% to 44%
- Non-GAAP research and development 14% to 16%
- Non-GAAP general and administrative 9% to 11%
Revenue & Expenses
Visualization of income flow from segment revenue to net income