DocuSign Q1 FY25 Revenue Rises to $726.2M

TL;DR

DocuSign's Q1 revenue up YoY, subscription revenue hits $697.9M.

AI Summary

DocuSign, Inc. filed its 10-Q for the period ending April 30, 2024. The company reported subscription and circulation revenue of $697.9 million for the first quarter of fiscal year 2025, an increase from $672.1 million in the same period last year. Professional services and other revenue also saw a slight increase from $28.0 million to $28.3 million year-over-year.

Why It Matters

This filing provides investors with an update on DocuSign's financial performance, indicating continued growth in its core subscription business.

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant negative developments.

Key Numbers

• $697.9M — Subscription and Circulation Revenue (Q1 FY25 revenue, showing growth from $672.1M in Q1 FY24.)
• $28.3M — Professional Services and Other Revenue (Q1 FY25 revenue, a slight increase from $28.0M in Q1 FY24.)
• $726.2M — Total Revenue (Sum of subscription and professional services revenue for Q1 FY25.)

Key Players & Entities

• DocuSign, Inc. (company) — Filer of the 10-Q
• 20240430 (date) — End of the reporting period
• $697.9 million (dollar_amount) — Subscription and circulation revenue for Q1 FY25
• $672.1 million (dollar_amount) — Subscription and circulation revenue for Q1 FY24
• $28.3 million (dollar_amount) — Professional services and other revenue for Q1 FY25
• $28.0 million (dollar_amount) — Professional services and other revenue for Q1 FY24

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share DOCU The Nasdaq Global Select
• $0 — 6,354 shares of common stock, par value $0.0001, outstanding at May 31, 2024. DO

Filing Documents

• docu-20240430.htm (10-Q) — 1234KB
• q125exhibit311.htm (EX-31.1) — 10KB
• q125exhibit312.htm (EX-31.2) — 10KB
• q125exhibit321.htm (EX-32.1) — 8KB
• 0001261333-24-000087.txt ( ) — 5776KB
• docu-20240430.xsd (EX-101.SCH) — 34KB
• docu-20240430_cal.xml (EX-101.CAL) — 66KB
• docu-20240430_def.xml (EX-101.DEF) — 198KB
• docu-20240430_lab.xml (EX-101.LAB) — 566KB
• docu-20240430_pre.xml (EX-101.PRE) — 368KB
• docu-20240430_htm.xml (XML) — 595KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of April 30, 2024 and January 31, 2024 4 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended April 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended April 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Three Months Ended April 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 33

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 35 Item 2 . Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 61 Item 5. Other Information 62 Item 6. Exhibits 62 Exhibit Index 63

Signatures

Signatures 64 Docusign, Inc. | 2025 Form 10-Q | 2 NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which statements involve substantial risk and uncertainties. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact, including statements regarding our future operating results and financial position, our business strategy and plans, market growth and trends, our anticipated future products and product strategy, our objectives for future operations, and the impact of such assumptions on our financial condition and results of operations are forward-looking statements. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: our expectations regarding global macro-economic conditions, including the effects of inflation, uncertainty about the interest rate environment, instability in the global banking sector, and market volatility on the global economy; our ability to estimate the size and growth of our total addressable market; our ability to compete effectively in an evolving and competitive market; the impact of any data breaches, cyberattacks or other malicious activity on our technology systems; our ability to effectively sustai

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS DOCUSIGN, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands, except per share data) April 30, 2024 January 31, 2024 Assets Current assets Cash and cash equivalents $ 817,388 $ 797,060 Investments—current 269,400 248,402 Accounts receivable, net of allowance for doubtful accounts of $ 5,890 and $ 5,499 as of April 30, 2024 and January 31, 2024 306,152 439,299 Contract assets—current 12,319 15,922 Prepaid expenses and other current assets 84,540 66,984 Total current assets 1,489,799 1,567,667 Investments—noncurrent 139,108 121,977 Property and equipment, net 255,736 245,173 Operating lease right-of-use assets 119,997 123,188 Goodwill 352,450 353,138 Intangible assets, net 46,206 50,905 Deferred contract acquisition costs—noncurrent 415,739 409,627 Other assets—noncurrent 107,654 99,615 Total assets $ 2,926,689 $ 2,971,290 Liabilities and Equity Current liabilities Accounts payable $ 17,700 $ 19,029 Accrued expenses and other current liabilities 99,177 104,037 Accrued compensation 153,932 195,266 Contract liabilities—current 1,313,227 1,320,059 Operating lease liabilities—current 20,925 22,230 Total current liabilities 1,604,961 1,660,621 Contract liabilities—noncurrent 23,840 21,980 Operating lease liabilities—noncurrent 117,444 120,823 Deferred tax liability—noncurrent 18,037 16,795 Other liabilities—noncurrent 25,407 21,332 Total liabilities 1,789,689 1,841,551 Commitments and contingencies ( Note 7 ) Stockholders' equity Preferred stock, $ 0.0001 par value; 10,000 shares authorized, 0 shares issued and outstanding as of April 30, 2024 and January 31, 2024 — — Common stock, $ 0.0001 par value; 500,000 shares authorized, 204,701 shares outstanding as of April 30, 2024; 500,000 shares authorized, 205,326 shares outstanding as of January 31, 2024 20 21 Treasury stock, at cost: 26 shares as of April 30, 2024; 18 shares as of January 31, 2024 ( 2,670 ) ( 2,

View Full Filing

View this 10-Q filing on SEC EDGAR