DocuSign Non-GAAP EPS of $0.38 misses by $0.08, revenue of $588.69M beats by $6.84M

Jun. 09, 2022 4:06 PM ETDocuSign, Inc. (DOCU)By: Pranav Ghumatkar, SA News Editor29 Comments
  • DocuSign press release (NASDAQ:DOCU): Q1 Non-GAAP EPS of $0.38 misses by $0.08.
  • Revenue of $588.69M (+25.5% Y/Y) beats by $6.84M.
  • Billings were $613.6 million, an increase of 16% year-over-year.
  • Non-GAAP gross margin was 81% for both periods.
  • Free cash flow was $174.6 million compared to $123.0 million in the same period last year.
  • Cash, cash equivalents, restricted cash and investments were $1,063.8 million at the end of the quarter.
  • Q2 Outlook: Total revenue $600M-604M vs. consensus $604.64M; Subscription revenue $583M-587M; Billing $599M-609M; Non-GAAP gross margin 79-81%; Non-GAAP operating margin 16-18%.
  • 2022 Outlook: Total revenue $2.47B-$2.482B vs. consensus of $2.48B, Subscription revenue $2,394M-$2,406M. Billings $2,521M-2,541M. Non-GAAP gross margin 79-81%. Non-GAAP operating margin 16-18%.
  • Stock fell 21% in after-hours trading on Thursday.
  • Seeking Alpha Quant System flagged Strong Sell rating well in advance, with warning issued on Mar. 10 stating DOCU is at the high risk of performing badly due to decelerating momentum and being overpriced when compared to other information technology stocks.
  • Steven Cress, Head of Quantitative Strategies at Seeking Alpha, explained how DocuSign's six-month price decline of 68.76% forms strong narrative to fall in his list of "3 Tormented Tech Stocks To Avoid."

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