10-Q - DOCUSIGN, INC. (0001261333) (Filer)

Fri, Jun 7, 8:38 PM (38 days ago)

DocuSign, Inc.'s Form 10-Q for the quarter ended April 30, 2024, highlights several key financial metrics and operational updates. The company reported a total revenue of $709.6 million, a 7% increase from the same period in 2023, primarily driven by an 8% rise in subscription revenue. However, professional services and other revenue declined by 18%. The gross profit margin remained steady at 79%, despite a 16% increase in the cost of subscription revenue due to higher hosting and personnel costs. Operating expenses were relatively flat, with notable increases in research and development (up 16%) and decreases in general and administrative costs (down 12%). The company reported a net income of $33.8 million, a significant improvement from $0.5 million in the prior year. Cash flow from operations was strong at $254.8 million, supporting cash, cash equivalents, and investments totaling $1.2 billion. DocuSign continues to face competitive pressures and macroeconomic challenges, including inflation and market volatility. The company is investing in its Intelligent Agreement Management (IAM) platform and expanding its international footprint, which now accounts for 28% of total revenue. Future growth will depend on the successful adoption of new products and continued expansion into international markets. The company also increased its stock repurchase program by an additional $1 billion, indicating strong confidence in its financial position.