DocuSign reported strong fiscal fourth quarter results as its Agreement Cloud showed some momentum and broadened its customer base.
The company reported a fourth quarter net loss of 26 cents a share on revenue of $274.9 million, up 38% from a year ago. Non-GAAP earnings for the quarter were 12 cents a share.
Wall Street was looking for DocuSign to report fourth quarter non-GAAP earnings of 5 cents a share on revenue of $266.5 million.
For fiscal 2020, DocuSign reported revenue of $974 million, up 39% from a year ago, billings of $1.1 billion and a net loss of $1.18 a share.
DocuSign's core business is e-signature services, but the company has broadened out to manage the business agreement life cycle. A recent acquisition of Seal Software for $188 million will bolster its use of artificial intelligence in business contract services.
- DocuSign acquires Seal Software to bolster AI in Agreement Cloud
- DocuSign: How it plans to expand from e-signature to digital transformation engine, agreement cloud
For the fiscal first quarter, DocuSign projected revenue between $280 million and $284 million with billings of $279 million to $289 million. For fiscal 2021, DocuSign is projecting revenue between $1.27 billion and $1.276 billion. That revenue outlook was better than expectations.