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Jan 31, 2020
DocuSign Q4 2020 Earnings Report
DocuSign's Q4 2020 financial results were announced, showcasing substantial year-over-year growth.
Key Takeaways
DocuSign reported a strong Q4 2020 with total revenue of $274.9 million, a 38% increase year-over-year, and billings of $366.9 million, a 40% increase year-over-year. The company's GAAP net loss per share was $0.26, while non-GAAP net income per share was $0.12. DocuSign also announced its intent to acquire Seal Software for $188 million in cash.
Total revenue increased by 38% year-over-year, reaching $274.9 million.
Billings grew by 40% year-over-year, totaling $366.9 million.
The company announced its intent to acquire Seal Software to enhance its Agreement Cloud with AI capabilities.
Non-GAAP net income per diluted share was $0.12, compared to $0.06 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 total revenue between $280 million and $284 million for the quarter ending April 30, 2020. They anticipate subscription revenue between $266 million and $270 million and billings between $279 million and $289 million. For the fiscal year ending January 31, 2021, DocuSign projects total revenue between $1.272 billion and $1.276 billion, subscription revenue between $1.210 billion and $1.214 billion, and billings between $1.430 billion and $1.450 billion.
Positive Outlook
- Total revenue is projected to be $280 to $284 million.
- Subscription revenue is expected to be $266 to $270 million.
- Billings are forecasted to be $279 to $289 million.
- Non-GAAP gross margin is anticipated to be 78% to 80%.
- Company anticipates continued growth.
Challenges Ahead
- Non-GAAP sales and marketing expenses are expected to be 47% to 49%.
- Non-GAAP research and development expenses are projected to be 13% to 15%.
- Non-GAAP general and administrative expenses are expected to be 9% to 11%.
- Non-GAAP interest and other income (expense) is projected to be $2 to $3 million.
- Provision for income taxes is expected to be $1.5 to $2.5 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income