DocuSign Q3 2021 Earnings Report
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
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