Earnings Spotlight: DocuSign (NASDAQ:DOCU)

DocuSign (NASDAQ:DOCU) changed -1.28% to recent value of $46.25. The stock transacted 6676241 shares during most recent day however it has an average volume of 2469.83K shares. It spotted trading -29.79% off 52-week high price. On the other end, the stock has been noted 31.92% away from the low price over the last 52-weeks.

On Sept. 05, 2019, DocuSign (NASDAQ:DOCU) released results for its fiscal quarter ended July 31, 2019.

With revenue growth exceeding 40% and billings growth at 47%, our second quarter performance reflects our clear leadership position in e-signature and increasing adoption of our broader Agreement Cloud offering, said Dan Springer, CEO of DocuSign. In the second quarter, we added 29,000 new customers onto the platform, bringing our total to 537,000 worldwide. We truly believe the Agreement Cloud category has the potential to be as big as CRM and ERP one day and our customers are increasingly buying in.

Second Quarter Financial Highlights

  • Total revenue was $235.6 million, an increase of 41% year-over-year. Subscription revenue was $220.8 million, an increase of 39% year-over-year. Professional services and other revenue was $14.8 million, an increase of 72% year-over-year.
  • Billings were $252.4 million, an increase of 47% year-over-year.
  • GAAP gross margin was 74%, compared to 78% in the same period last year. Non-GAAP gross margin was 78% compared to 81% in the same period last year.
  • GAAP net loss per basic and diluted share was $0.39 on 175 million shares outstanding compared to GAAP net loss per share of $0.22 in the second quarter of fiscal 2019 on 166 million shares outstanding.
  • Non-GAAP net income per diluted share was $0.01 on 189 million shares outstanding compared to non-GAAP net income per share of $0.03 in the second quarter of fiscal 2019 on 191 million shares outstanding.
  • Net cash provided by operating activities was $26.4 million, compared to $22.7 million in the same period last year.
  • Free cash flow was $11.9 million in the second quarter of fiscal 2020 compared to free cash flow of $18.4 million in the same period last year.
  • Cash, cash equivalents, restricted cash and investments were $930.5 million at the end of the quarter.

DOCU has a gross margin of 75.50% and an operating margin of -26.50% while its profit margin remained -26.50% for the last 12 months. Its earnings per share (EPS) expected to touch remained -723.00% for this year while earning per share for the next 5-years is expected to reach at 63.00%.

The company has 172.8M of outstanding shares and 159.41M shares were floated in the market. According to the most recent quarter its current ratio was 1.8 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.29% from the mean of 20 days, -5.70% from mean of 50 days SMA and performed -7.04% from mean of 200 days price. Company’s performance for the week was 1.78%, 3.72% for month and YTD performance remained 15.39%.

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