DOCUSIGN Reports Record-Breaking Q1 FY2024 Revenue with 12.3% Year-Over-Year Increase

☀️Earnings Overview

On June 8th 2023, DOCUSIGN ($NASDAQ:DOCU) announced their financial results for the first quarter for the fiscal year 2024; USD 661.4 million in revenue was reported, which was a 12.3% increase from the same period in the preceding year. Net income for Q1 was up by a remarkable 102.0%, amounting to USD 0.54 million compared to the previous year.

Analysis

GoodWhale has conducted an analysis of DOCUSIGN‘s financials and has provided a star chart that shows the company is strong in growth, medium in asset and weak in dividend and profitability. The health score of DOCUSIGN is 7 out of 10 which is quite high, and this means that the company is capable to safely ride out any crisis without risking bankruptcy. DOCUSIGN has been classified as a ‘cheetah’ type of company since it achieved high revenue or earnings growth, however it is considered less stable due to lower profitability. Investors who may be interested in DOCUSIGN are those who are seeking companies with high potential for growth but with lower stability in terms of profitability. These investors should understand the risks associated with investing in such companies and should be prepared to face higher volatility. The rewards for investing in such companies can be high but it’s important to consider the risks involved. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Docusign. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Docusign. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Docusign. More…

Key Ratios Snapshot

Some of the financial key ratios for Docusign are shown below. More…

Peers

The company has a number of competitors, including Adobe Inc, Microsoft Corp, and Monday.Com Ltd.

– Adobe Inc ($NASDAQ:ADBE)

Adobe Inc. is an American multinational computer software company headquartered in San Jose, California. The company has a market cap of 153.82B as of 2022 and a ROE of 26.76%. Adobe Inc. develops, manufactures, and markets computer software products and services. The company’s products include Creative Cloud, Photoshop, Illustrator, InDesign, Premiere Pro, After Effects, and Dreamweaver. Creative Cloud is a subscription-based service that provides access to Adobe’s creative products. Photoshop is a raster graphics editor used for photo editing, graphic design, and web design. Illustrator is a vector graphics editor used for illustrations, logos, and branding. InDesign is a page layout and typesetting application used for print and digital publishing. Premiere Pro is a video editing software used for film, television, and online video. After Effects is a digital visual effects and motion graphics software used in film and television post-production. Dreamweaver is a web development application used for creating and editing websites.

– Microsoft Corp ($NASDAQ:MSFT)

Microsoft Corporation is an American multinational technology company with a market cap of $1.8 trillion and a ROE of 31.9%. The company develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers.

– Monday.Com Ltd ($NASDAQ:MNDY)

Monday.com Ltd is a publicly traded company with a market capitalization of 4.36 billion as of 2022. The company has a return on equity of -16.81%. Monday.com Ltd is a provider of enterprise software solutions. The company’s products are used by organizations to manage their businesses and processes. Monday.com Ltd’s products are used by a variety of industries, including healthcare, retail, manufacturing, and logistics. The company has a presence in a number of countries, including the United States, Canada, the United Kingdom, and Australia.

Summary

DOCUSIGN‘s positive first-quarter earnings results demonstrate a strong performance, with total revenue increasing 12.3% year-over-year and net income rising 102.0%. As investors, this signals a company that is thriving in the current market, making DOCUSIGN an attractive option for long-term investment. The company has been able to successfully capitalize on the digital transformation trend, leveraging its cloud-based solutions to guide businesses through the transition. With such positive results, investors can feel confident that DOCUSIGN will continue to be a profitable asset.