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Jan 31
DocuSign Q4 2025 Earnings Report
DocuSign reported strong revenue growth and profitability in Q4 FY25.
Key Takeaways
DocuSign achieved a 9% YoY revenue increase, reaching $776.3 million. Net income and free cash flow saw substantial growth. The company also expanded its AI-powered Intelligent Agreement Management platform globally.
Total revenue increased by 9% YoY to $776.3 million.
Net income rose significantly to $83.5 million.
Non-GAAP EPS reached $0.86, up from $0.76 in Q4 FY24.
Free cash flow improved to $279.6 million, reflecting strong cash generation.
DocuSign
DocuSign
DocuSign Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comProfessional services and other Revenue
CapyFin.com Forward Guidance
DocuSign expects stable revenue growth in FY26, driven by continued AI adoption and expansion of its IAM platform.
Positive Outlook
- Total revenue expected between $3.129 billion and $3.141 billion for FY26.
- Subscription revenue forecasted between $3.062 billion and $3.074 billion.
- Billings projected between $3.3 billion and $3.354 billion.
- Non-GAAP gross margin expected to be between 80.5% and 81.5%.
- Non-GAAP operating margin projected to reach 27.8% to 28.8%.
Challenges Ahead
- Foreign exchange fluctuations may impact revenue growth by approximately 0.7 percentage points.
- Billings growth could be reduced by 1.0 percentage points due to FX impact.
- Potential macroeconomic uncertainty affecting enterprise spending.
- Increased investments in AI and expansion efforts could pressure margins.
- Stock-based compensation and tax-related items may create variability in GAAP profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income