DocuSign (DOCU) Q1 earnings report 2024

DocuSign, the e-signature provider, reported an earnings and revenue beat for the fiscal quarter ended April 30, alongside announcing a handful of C-suite hires and new service offerings. The company’s shares spiked as much as 12% after hours.

Here’s how the company did:

• Earnings: 72 cents per share, adjusted, vs. 56 cents per share expected by analysts, according to Refinitiv.
• Revenue: $661 million vs. $642 million expected by analysts, according to Refinitiv.

In the first quarter of Docusign’s 2024 fiscal year, revenue jumped 12% year over year to $661 million, and subscription revenue increased by the same percentage, to $639 million. In the “professional services and other” category, revenue spiked 14% to $22 million from the prior-year period.

DocuSign reported net income of $539,000, or zero cents per share, compared to a $27.4 million net loss, or 14 cents per share, a year earlier. 

The company announced some new products and services, including Webforms, a way for organizations to create, customize and manage their own forms, including exporting and analyzing the data collected.

DocuSign reported 1.4 million paying users and more than 1 billion users as of April 30 and emphasized its international focus to investors, with service in more than 180 countries and 17% international revenue growth year over year.

For the fiscal second quarter, DocuSign expects revenue of $675 million to $679 million, compared to analyst estimates of $667 million, according to Refinitiv. For the full fiscal year, the company forecasts revenue of $2.71 billion to $2.73 billion, compared to analysts’ call of $2.7 billion.

DocuSign also made a handful of strategic C-suite hires last quarter, including appointing a new chief financial officer, Blake Grayson, who formerly served as the CFO of The Trade Desk and in other finance roles at Amazon.

The company also chose a new chief product officer in Dmitri Krakovsky — previously of CP4, Google, SAP and Yahoo — and a new chief information security officer in Kurt Sauer, who formerly held the same role at Workday.

Correction: Allan Thygesen is the current CEO of DocuSign. A photo caption in an earlier version identified Dan Springer as the chief executive.