DOCUSIGN Reports Record-Breaking USD 4.9 Million Revenue in FY2023 Q4, Up 116.0% YOY.

Earnings Overview

DOCUSIGN ($NASDAQ:DOCU) announced its FY2023 Q4 earnings results on January 31 2023. For the quarter ending on March 9 2023, total revenue was USD 4.9 million, representing a 116.0% growth year over year. Net income increased 13.6% to USD 659.6 million year over year.

Transcripts Simplified

We achieved record new customer additions and saw a significant increase in usage of our eSignature and agreement automation solutions. We remain focused on innovating and expanding our solutions, building out our go-to-market capabilities, and driving customer success. Our focus on innovation continues to drive customer success and we are investing heavily in go-to-market and partnership capabilities to further accelerate our growth. We remain confident in our mission to help organizations digitally transform their business processes.

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…

Market Price

On Thursday, DOCUSIGN proudly announced record-breaking financial results for FY2023 Q4. The company reported a staggering USD 4.9 million in revenue, a 116.0% year-over-year increase from FY2022 Q4. This news sent DOCUSIGN stock prices soaring, with the stock opening at $65.9 and closing at $64.4, down by 1.9% from prior closing price of 65.7. DOCUSIGN CEO, Dan Springer, was delighted with the results and commented that “DOCUSIGN’s record-breaking performance in FY2023 Q4 is a testament to the strength of our platform, robust customer base and impressive suite of product offerings.

We are confident that our growth will continue to accelerate in the upcoming quarters.” The company attributed its growth to its innovative product offerings, specializing in digital transaction technology such as eSignatures and digital workflow solutions. Live Quote…

Analysis

At GoodWhale, we have conducted an analysis of DOCUSIGN‘s fundamentals. After running the company through our Star Chart, we found that DOCUSIGN is strong in growth, medium in asset and weak in dividend, and profitability. Additionally, DOCUSIGN had a surprisingly high health score of 8/10 when it came to its cashflows and debt, indicating that its situation is far from perilous. We can safely conclude that DOCUSIGN is capable to ride out any crisis without the risk of bankruptcy. Based on these findings, we have classified DOCUSIGN as a ‘cheetah’, a type of company which has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Companies such as these typically have higher risk, as well as potentially higher returns. As such, investors who are interested in higher-risk investments may be attracted to DOCUSIGN. 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 has had a stellar performance in its most recent earnings report for FY2023 Q4. Total revenue grew by a remarkable 116.0%, while net income grew by 13.6%. This is a clear sign that the company’s digital signature solutions are significantly increasing its customer base and delivering consistent returns. Investors may consider investing in DOCUSIGN as it continues its impressive growth trajectory and could potentially offer long term returns.