Earnings Results: DocuSign stock shoots higher after big earnings beat: ‘The future is in our own hands’

by | Dec 8, 2022 | Stock Market

Shares of DocuSign were flying higher in aftermarket action Thursday after the e-signature company topped expectations with its latest financial results. The company posted a fiscal third-quarter net loss of $30 million, or 15 cents a share, compared with $6 million, or 3 cents a share, in the year-earlier period. On an adjusted basis, the company earned 57 cents a share, down a penny from 58 cents a share a year before, but significantly above the FactSet consensus, which was for 42 cents a share.

Revenue rose to $646 million from $545 million a year ago, whereas the FactSet consensus called for $627 million. DocuSign
posted $624 million in subscription revenue and $21 million in professional services and other revenue. DocuSign reported $659.4 million in billings, defined as “sales to new customers plus subscription renewals and additional sales to existing customers.” Analysts tracked by FactSet were looking for $588.6 million. The stock rose 11% in after-hours trading. Chief Executive Allan Thygesen said on DocuSign’s earnings call that the company was looking to “create stronger efficiencies in our direct sales and field efforts and strengthen our partner ecosystem,” and he noted that “sales attrition is continuing to moderate, and we’re seeing stabilization in the field,” according to a transcript provided by Sentieo/AlphaSense. For the fiscal fourth quarter, DocuSign execut …

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