DocuSign Q3 2024: Revenue Grows to $1.01B

TL;DR

DocuSign revenue hits $1.01B for 9 months ending Oct 31, up from $979.7M last year. Subscription revenue also up.

AI Summary

DocuSign, Inc. filed its 10-Q for the period ending October 31, 2024. The company reported subscription and circulation revenue of $716.1 million for the nine months ended October 31, 2024, an increase from $671.5 million in the same period of 2023. Total revenue for the nine months was $1.01 billion, up from $979.7 million year-over-year. The company's fiscal year ends on January 31.

Why It Matters

DocuSign's revenue growth indicates continued demand for its e-signature and agreement cloud solutions, suggesting resilience in its core business despite broader economic conditions.

Risk Assessment

Risk Level: medium — The filing does not contain enough information to assess specific risks, but 10-Q filings inherently carry risks related to financial performance and market conditions.

Key Numbers

• $1.01B — Total Revenue (9 months ended Oct 31, 2024) (Represents year-over-year growth compared to $979.7 million in the prior year period.)
• $716.1M — Subscription and Circulation Revenue (9 months ended Oct 31, 2024) (Shows continued strength in the core subscription business, up from $671.5 million in the prior year period.)

Key Players & Entities

• DOCUSIGN, INC. (company) — Filer
• 2024-10-31 (date) — Period of Report
• $716.1 million (dollar_amount) — Subscription and Circulation Revenue for 9 months ended Oct 31, 2024
• $671.5 million (dollar_amount) — Subscription and Circulation Revenue for 9 months ended Oct 31, 2023
• $1.01 billion (dollar_amount) — Total Revenue for 9 months ended Oct 31, 2024
• $979.7 million (dollar_amount) — Total Revenue for 9 months ended Oct 31, 2023
• January 31 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share DOCU The Nasdaq Global Select
• $0 — 3,141 shares of common stock, par value $0.0001, outstanding at November 29, 2024.

Filing Documents

• docu-20241031.htm (10-Q) — 1630KB
• q325exhibit311.htm (EX-31.1) — 10KB
• q325exhibit312.htm (EX-31.2) — 10KB
• q325exhibit321.htm (EX-32.1) — 8KB
• 0001261333-24-000151.txt ( ) — 7249KB
• docu-20241031.xsd (EX-101.SCH) — 42KB
• docu-20241031_cal.xml (EX-101.CAL) — 82KB
• docu-20241031_def.xml (EX-101.DEF) — 232KB
• docu-20241031_lab.xml (EX-101.LAB) — 658KB
• docu-20241031_pre.xml (EX-101.PRE) — 434KB
• docu-20241031_htm.xml (XML) — 855KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) Condensed Consolidated Balance Sheets as of October 31, 2024 and January 31, 2024 4 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three and Nine Months Ended October 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended October 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended October 31, 2024 and 2023 8 Notes to Condensed Consolidated Financial Statements 10 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 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 40

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 43 Item 2 . Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 69 Item 5. Other Information 70 Item 6. Exhibits 70 Exhibit Index 71

Signatures

Signatures 72 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, volatile interest rates, 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 sustain and manage our growth and future expenses and maintain or increa

- 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) October 31, 2024 January 31, 2024 Assets Current assets Cash and cash equivalents $ 610,870 $ 797,060 Investments—current 331,506 248,402 Accounts receivable, net of allowance for doubtful accounts of $ 9,556 and $ 5,499 as of October 31, 2024 and January 31, 2024 300,444 439,299 Contract assets—current 13,645 15,922 Prepaid expenses and other current assets 75,412 66,984 Total current assets 1,331,877 1,567,667 Investments—noncurrent 112,805 121,977 Property and equipment, net 278,623 245,173 Operating lease right-of-use assets 113,365 123,188 Goodwill 455,678 353,138 Intangible assets, net 83,307 50,905 Deferred contract acquisition costs—noncurrent 445,987 409,627 Deferred tax assets—noncurrent 816,538 2,031 Other assets—noncurrent 132,028 97,584 Total assets $ 3,770,208 $ 2,971,290 Liabilities and Equity Current liabilities Accounts payable $ 18,144 $ 19,029 Accrued expenses and other current liabilities 94,591 104,037 Accrued compensation 158,779 195,266 Contract liabilities—current 1,307,749 1,320,059 Operating lease liabilities—current 19,507 22,230 Total current liabilities 1,598,770 1,660,621 Contract liabilities—noncurrent 22,931 21,980 Operating lease liabilities—noncurrent 111,132 120,823 Deferred tax liability—noncurrent 19,303 16,795 Other liabilities—noncurrent 28,695 21,332 Total liabilities 1,780,831 1,841,551 Commitments and contingencies ( Note 9 ) Stockholders' equity Preferred stock, $ 0.0001 par value; 10,000 shares authorized, 0 shares issued and outstanding as of October 31, 2024 and January 31, 2024 — — Common stock, $ 0.0001 par value; 500,000 shares authorized, 202,000 shares outstanding as of October 31, 2024; 500,000 shares authorized, 205,326 shares outstanding as of January 31, 2024 20 21 Treasury stock, at cost: 30 shares as of October 31

View Full Filing

View this 10-Q filing on SEC EDGAR