Digital document workflow pioneer DocuSign this afternoon reported fiscal Q2 revenue and profit that both beat Wall Street’s expectations, and an outlook that was higher for this quarter’s revenue, and raised its year revenue view.
Despite the upbeat report, DocuSign shares slipped 1.7% in late trading.
CEO Dan Springer remarked, “We’ve 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 July rose 50%, year over year, to $511.8 million, yielding a net profit of 47 cents a share, excluding some costs.
Analysts had been modeling $489 million and 40 cents per share.
DocuSign said that its “billings” in the quarter, which combine deferred revenue that had been invoiced and reported revenue, rose by 47% to $595.4 million.
For the current quarter, the company sees revenue of $526 million to $532 million versus consensus for $522.
For the full year, the company sees revenue in a range of $2.078 billion to $2.088 billion, up from a prior forecast of $2.027 billion to $2.039 billion, and also ahead of consensus of $2.05 billion.
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