DocuSign Reaches 500,000 Customers but Stores Tanks After First Quarter Results Release – GeekWire

The stock of DocuSign is in free fall while the giant of the electronic signature has recorded a rapid growth of its turnover in the last quarter and has reached a milestone in terms of customer base.

Returned: DocuSign recorded revenues of $ 214 million in the first quarter of its fiscal year, an increase of 37% over the previous year. This far exceeds analyst expectations of $ 208.15 million.

benefits: Net earnings of $ 13.5 million for the quarter, or $ 0.07 per share, exceeded analyst expectations of $ 0.04 per share.

Customers: DocuSign ended the quarter with 508,000 paying customers, an increase of about 27 percent from a year ago when the company had 400,000 customers.

Reaction: The DocuSign action is down more than 17% in transactions after normal business hours.

"Overall, we had a strong first quarter for fiscal year 2020 – our revenues grew 37% over the previous year, we once again realized nonconforming profits. to GAAP and now have more than half a million paying customers in the world, "said CEO Dan Springer said in a statement. "In addition, we are seeing good results from the work we have done to optimize our commercialization movement, attracting new net customers and developing use cases within our installed base. And with the announcement of the DocuSign Cloud Agreement this quarter, our suite of products and integrations to automate the entire process of agreement, we can now offer a much wider range of solutions on the market, positioning us as the next essential cloud. "

DocuSign received the Deal of the Year award at the GeekWire 2019 awards for its $ 465 million IPO. Shares of the company rose 38 percent until the end of the trading session on Thursday.

DocuSign is best known for its electronic signature product, where it competes with Adobe and others. In March, the company unveiled new tools that are part of a constant evolution towards the possession of what DocuSign calls the "cloud cloud", which includes not only signing documents, but also their creation and management. .