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Oct 31, 2023

DocuSign Q3 2024 Earnings Report

DocuSign had a solid third quarter, delivering record non-GAAP operating margin and free cash flow.

Key Takeaways

DocuSign announced results for its fiscal quarter ended October 31, 2023. Total revenue was $700.4 million, an increase of 9% year-over-year. GAAP net income per diluted share was $0.19. Free cash flow was $240.3 million compared to $36.1 million in the same period last year.

Total revenue was $700.4 million, an increase of 9% year-over-year.

Billings were $691.8 million, an increase of 5% year-over-year.

Free cash flow was $240.3 million compared to $36.1 million in the same period last year.

GAAP net income per diluted share was $0.19.

Total Revenue
$700M
Previous year: $645M
+8.5%
EPS
$0.79
Previous year: $0.57
+38.6%
Total Billings
$692M
Previous year: $659M
+4.9%
Gross Profit
$558M
Previous year: $516M
+8.1%
Cash and Equivalents
$1.19B
Previous year: $633M
+87.9%
Free Cash Flow
$240M
Previous year: $36.1M
+565.7%
Total Assets
$3.34B
Previous year: $2.73B
+22.2%

DocuSign

DocuSign

DocuSign Revenue by Segment

Forward Guidance

The company currently expects the following guidance: Quarter ending January 31, 2024 (in millions, except percentages):Total revenue$696to$700Subscription revenue$679to$683Billings$758to$768Non-GAAP gross margin81.0%to82.0%Non-GAAP operating margin22.5%to23.5%Non-GAAP diluted weighted-average shares outstanding207to212

Revenue & Expenses

Visualization of income flow from segment revenue to net income