DocuSign quarterly revenue climbs 33% in second quarterly report since IPO

DocuSign CEO Daniel Springer. (DocuSign Photo).

Digital signature giant DocuSign reported $167 million in revenue for the July quarter, up 33 percent, in just its second quarterly report since becoming a public company.

The company’s earnings of 3 cents per share exceeded, by 2 cents, the expectations of analysts polled in advance of the quarterly report, according to a summary from Yahoo Finance.

The primary factor driving the results was a 35 percent year-over-year increase in subscription revenue, to $158.5 million. DocuSign CEO Dan Springer said in a statement that the company added more than 25,000 customers in the quarter, bringing its total customer base to nearly 430,000.

Shares of the company, which climbed to a post-IPO high of $67.87 last week, slipped in after-hours trading following the earnings report to $61.10, down more than 3 percent from the Wednesday closing price of $63.10.

DocuSign is based in San Francisco but maintains a large engineering operation in Seattle, where it was originally founded.

Earlier this week, DocuSign completed its previously announced, $220 million acquisition of SpringCM, a Chicago-based cloud document generation and contract management company.

In August, the company added three new board members: former GoDaddy CEO Blake Irving, Docker chairman and CEO Steve Singh, and IBM Watson business unit GM Inhi Cho Suh. They replaced previous board members Scott Darling, Rory O’Driscoll and Jonathan Robert.

DocuSign founder Tom Gonser is slated to leave his board seat in December and chairman and former CEO Keith Krach will leave the board in January.

Source: GeekWire

Leave a Reply

Your email address will not be published.

Related Posts