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DocuSign (DOCU) earnings Q1 2023

admin by admin
June 14, 2022
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DocuSign (DOCU) earnings Q1 2023
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Dan Springer, Chief Executive Officer of DocuSign.

David Paul Morris | Bloomberg | Getty Images

DocuSign Equities fell 24% in after-hours trading on Thursday after digital signature software vendors reported lower-than-expected earnings in the first quarter.

The company’s way is as follows.

  • Revenue: According to Refinitiv, analysts expected 46 cents per share, compared to 38 cents per share after adjustment.
  • Revenue: According to Refinitiv, it’s $ 588.7 million, compared to what analysts expected at $ 581.8 million.

DocuSign revenue for the quarter ended April 30 was up 25% year-on-year. statement..

But as investors shifted from a focus on growth to profitability, DocuSign’s earnings failure masked that earnings increase. As of Thursday’s closing price, this year’s share price has fallen 43%, alongside other cloud software sectors. On Thursday, the company reported net losses increased from $ 8.3 million in the year-ago quarter to $ 27.4 million.

DocuSign achieved strong growth early in the pandemic with an increase in online transactions. In a conference call with analysts, CEO Dan Springer said the pace of the business has slowed in recent quarters and is now after beginning to adjust its sales approach to focus on growing demand. He said he is working to fix the challenges of getting to market.

The company doesn’t cut headcount, but it does reduce the number of people it plans to hire “to strike the right balance between growth and profitability,” Springer said. Organization.

Cynthia Gaylor, Chief Financial Officer of DocuSign, said there were also challenges in the deteriorating macroeconomic environment. In Europe, some transactions were stagnant or delayed due to economic uncertainty following the outbreak of the war in Ukraine, according to Springer.

In addition, the company’s growth rate, which reflects the pace of existing customer spending, has slowed, Gailer said.

DocuSign requested revenue of $ 600 million to $ 604 million in the second quarter. The $ 602 million in the middle of the range was slightly above Refinitiv’s consensus of $ 601.7 million.

And for all of 2023, DocuSign expects revenue of $ 2.47 billion to $ 2.48 billion, compared to a $ 2.479 billion refinitiv consensus.

Earlier this week DocuSign publication Expanding partnership with Microsoft..

look: DocuSign has the potential to grow with a deal with Microsoft, says Nancy Tengler of Laffer Tengler.

Tags: Breaking News: EarningsBusiness newsCorporateDOCUDocuSignDocuSign IncearningsLatest News: TechnologyMicrosoft CorpRevenuetechnologywork
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