DocuSign shares jump on fiscal Q1 results, outlook above expectations

DocuSign said its subscription revenue rose 61%, year over year.

Digital document workflow pioneer DocuSign this afternoon reported fiscal Q1 revenue and profit that topped analysts' expectations, and an outlook for revenue that was higher as well for the quarter and for the year. 

The report sent DocuSign shares up over 5% in late trading

CEO and Dan Springer said the company has "increasingly become the way people agree in this emerging anywhere economy—and that's not only helping organizations continue operations during the pandemic, but helping them realize new and more efficient ways of doing business in the future."

Added Springer, "This fact is reflected by our new and existing customers adopting and expanding at record rates, our 58% year-over-year Q1 revenue growth, and the recent addition of our millionth customer to the DocuSign platform."

Revenue in the three months ended in April surged 58%, year over year, to $469.1 million, yielding a net profit of 44 cents a share, excluding some costs.

Analysts had been modeling $438 million and 28 cents per share.

Subscription revenue rose even faster than total revenue, up 61% at $451.9 million. Total revenue includes services revenue.

For the current quarter, the company sees revenue of $479 million to $489 million, compared to consensus for $474 million.

For the full year, the company sees revenue in a range of $2.027 billion to $2.039 billion, compared to consensus of $1.99 billion.