DocuSign shares rise as fiscal Q4 results, outlook top expectations
Digital document workflow pioneer DocuSign this afternoon reported fiscal Q4 revenue and profit that comfortably exceeded expectations, and an outlook for the quarter and the year that was higher as well.
The report sent DocuSign shares up slightly in late trading.
CEO Dan Springer remarked that the year just ended "was a milestone year for DocuSign."
Said Springer, "We became a pillar of the 'anywhere economy' that lets people increasingly do anything in life and work from anywhere.
"In the process, we grew our business nearly 50%, reached almost $1.5 billion in revenues, and achieved a record net retention rate of 123%.
"We believe this performance represents an acceleration of the ongoing trend towards the digital transformation of agreements."
Revenue in the three months ended in January rose 57%, year over year, to $430.9 million, yielding a net profit of 37 cents a share.
Subscription revenue of $410 million rose even faster, up 59%.
Analysts had been modeling $408 million and 24 cents per share.
DocuSign said its Billings rose 46% in the quarter to $535 million.
For the current quarter, the company sees revenue of $432 million to $436 million, versus consensus for $419 million.
For the full year, the company sees revenue in a range of $1.963 billion to $1.973 billion versus consensus of $1.46 billion.