Docusign is quietly putting together an incredibly bullish case for its stock.The COVID-19 pandemic created a series of tailwinds for document technology company Docusign (DOCU -1.44%), because its software allows businesses to draft, negotiate, and close deals in the cloud. Demand soared when lockdowns and social restrictions took effect, which propelled Docusign stock to an all-time high of $310 in mid-2021.But as social restrictions fell away, Docusign experienced a slowdown in its revenue growth, forcin ...

DocuSign, Inc. (DOCU) reported impressive first-quarter fiscal 2025 results, wherein both earnings and revenues beat the Zacks Consensus Estimate. The better-than-expected results, however, failed to impress the market as the stock declined 6.6% since the earnings release on Jun 6.Quarterly EPS of 82 cents per share surpassed the Zacks Consensus Estimate by 3.8% and increased 13.9% from the year-ago fiscal quarter. Total revenues of $709.6 million beat the consensus mark by a slight margin and improved 7.3% ...

Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends DocuSign. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. ...

Bevan Goldswain/E+ via Getty Images Investment Thesis DocuSign (NASDAQ:DOCU)'s stock dipped by more than 3% despite a better-than-expected 1Q FY2025 earnings report. A slightly negative reaction without triggering a significant selloff might indicate a muted result that disappoints investors. In my previous coverage, I issued a hold rating and discussed a potential value trap for the stock due to a growth slowdown to low teen digits. After a year, the stock has been trading on the sidelines and is curre ...

文章核心观点 - 公司收入增长7%,其中订阅收入增长8%,但业绩指引低于预期,导致股价下跌[3][5] - 公司正在向平台型公司转型,推出了多项新功能,如Intelligent Agreement Management (IAM)解决方案、Maestro、Navigator和App Center等[12] - 公司股价估值较低,且有较强的现金流和股票回购计划,为公司未来发展提供支持[15][18] 公司业绩分析 - 公司总收入达7.096亿美元,同比增长7%[3] - 订阅收入增长8%至6.915亿美元,专业服务收入下降18%至1.82亿美元[3] - 国际收入增长17%,占总收入的28%[4] - 新增客户超过5万,总客户数达156万,同比增长11%[6] - 毛利率为78.9%,较上年同期下降0.5个百分点[8] - 调整后每股收益增长14%至0.82美元[8] - 经营活动现金流为2.548亿美元,自由现金流为2.321亿美元[9] - 公司现金及投资达12亿美元,无债务[9] 未来发展 - 公司全年收入和订阅收入指引略有上调,但低于上季度超预期的业绩[10][11] - 公司正在向平台型公司转型,推出了多项新功能,如IAM解决方案、Maestro、Navigator和App Center等[12] - 公司将利用近期收购的Lexion公司的AI技术,进一步提升新平台的功能[17] - 公司估值较低,且有较强的现金流和大规模股票回购计划,为公司未来发展提供支持[15][18]

The company's push into agreement management is nothing new.DocuSign (DOCU -4.67%) was one of the best-positioned companies to benefit from the pandemic. The company's e-signature platform boomed as industries that had resisted the technology had little choice but to adopt it. Its revenue soared 49% in fiscal 2021 and 45% in fiscal 2022.A combination of the waning of the pandemic and increased e-signature competition has since put a chill on DocuSign's growth rate. Revenue rose by 7% year over year in the f ...

会议主要讨论的核心内容 - 公司发布了重大战略扩展,推出了DocuSign Intelligent Agreement Management Platform [1][2][3] - 公司宣布收购Lexion公司,以加速AI技术在平台上的应用 [3][13][17] - 公司在三大战略支柱上取得明确进展:加速产品创新、改善全渠道销售能力、提高运营和财务效率 [1][2][6][7] - 公司核心业务持续稳定,第一季度收入同比增长7%,净留存率环比有所改善 [1][6][7] - 第一季度非GAAP经营利润率提升至28.5%,自由现金流率达33% [2][6][8] - 公司宣布启动10亿美元的股票回购计划,以灵活利用强劲的现金流 [2][9] 问答环节重要的提问和回答 问题1 **Jake Roberge 提问** 最近的消费趋势如何反映在订阅收入指引中,是否存在宏观经济影响的考虑 [12] **Blake Jorgensen 回答** 第一季度消费和使用指标均有小幅改善,公司对此保持乐观,但在指引中保持谨慎,未完全体现在订阅收入指引中 [12][13] 问题2 **Pat Wall-Ravens 提问** 如何建立IAM的可复制销售模式,特别是从企业向中小客户拓展的过程 [16][22] **Alan Saldich 回答** 公司正在进行大规模的销售团队培训和渠道合作拓展,以适应IAM从单一产品到平台的转变,这需要一个渐进的过程 [22][23] 问题3 **Scott Berg 提问** IAM对公司未来增长的影响时间点如何,是否会在明年有较大贡献 [20][21] **Alan Saldich 和 Blake Jorgensen 回答** IAM明年会有一定贡献,但由于公司现有业务规模较大,短期内难以对整体业绩产生重大影响,需要一个渐进的过程 [20][21][24]

总收入和净利润 - Docusign的总收入在2024年4月30日的三个月内达到了709,640,000美元，较2023年同期的661,388,000美元有所增长[85] - Docusign的净利润在2024年4月30日的三个月内达到了33,760,000美元，较2013年同期的539,000美元有显著增长[85] 资金情况 - Docusign的现金、现金等价物、受限现金和投资截至2024年4月30日为12亿美元[85] 业务发展计划 - Docusign预计将在2025财年逐渐推出新的IAM平台，并计划提供基于用户订阅的定价模式[79] 国际业务 - Docusign的国际收入在2024年4月30日的三个月内占总收入的28%，较2013年同期的25%有所增长[91] 客户数量和收入来源 - Docusign的客户数量在2024年4月30日达到了超过150万，其中约有248,000家企业和商业客户[82] - Docusign的主要收入来源于订阅销售，占总收入的97%[80] 投资和未来业绩 - Docusign计划继续投资以支持进一步增长，包括优化营销策略、研发创新产品、进行战略收购和投资[86] - Docusign预计未来的业绩将取决于多个因素，包括投资增长、扩大客户基础、保持和扩大现有客户的合同以及增加国际收入[86] 财务数据 - 2024年4月份，订阅服务收入为691,483千美元，占总收入的97%，较2023年同期增长8%[111] - 订阅服务成本为126,602千美元，占总成本的18%，较2023年同期增长16%[114] - 研发费用为134,320千美元，占总收入的19%，较2023年同期增长16%[117] - 总现金流为2024年4月份净提供现金为254,826千美元，主要来源于账单和相关现金收款，主要用途包括员工工资和福利支付[126] 非GAAP财务指标 - 公司使用非GAAP财务指标来评估核心运营绩效，以增强投资者对财务表现的整体理解[136] - 非GAAP财务指标包括非GAAP毛利、非GAAP营业利润、非GAAP净利润等，排除了与股票补偿、收购相关无形资产摊销、债务折让和发行成本摊销等相关的费用[138] - 公司计算非GAAP净利润时，采用固定的长期预期税率为20%[139] 自由现金流和销售额 - 公司定义自由现金流为经营活动提供的净现金减去购买的固定资产和设备，用于衡量可用于运营支出、业务投资和收购的现金[140] - 公司将销售额定义为总收入加上合同负债和退款负债的变化，减去合同资产和未开票应收账款，用于衡量公司的周期性表现[141] 货币和外汇 - 公司的报告货币是美元，子公司的功能货币是其本地货币或美元，资产和负债按照汇率转换为美元[147] - 外汇翻译调整计入“累积其他综合损失”中[147] - 由于外币交易重新计量而产生的收益或损失计入“利息收入和其他收入，净额”中[147]

It technically beat expectations, but it didn't give investors much to look forward to.Shares of software company DocuSign (DOCU -4.91%) dropped on Friday after the business reported financial results for its fiscal first quarter of 2025. As of 9:45 a.m. ET today, DocuSign stock was down about 8%, after being down almost 11% earlier in the day.A beat, but not much of a raiseIn the first quarter (which ended in April), DocuSign actually beat its guidance by generating revenue of $710 million. That was up 7% ...

Key TakeawaysDocusign's first-quarter revenue only slightly beat analysts' forecasts, and its billings guidance raised concerns about future growth.The document-signing software provider's revenue was just 0.3% above analysts' consensus estimate.Shares declined even as Docusign boosted its stock buyback plan. Docusign (DOCU) shares fell Friday, a day after the provider of document-signing software only slightly beat revenue estimates and its billing guidance raised concerns about growth. The company posted ...