DocuSign (DOCU) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

For the quarter ended April 2024, DocuSign (DOCU) reported revenue of $709.64 million, up 7.3% over the same period last year. EPS came in at $0.82, compared to $0.72 in the year-ago quarter.

The reported revenue represents a surprise of +0.51% over the Zacks Consensus Estimate of $706.07 million. With the consensus EPS estimate being $0.79, the EPS surprise was +3.80%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how DocuSign performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Non-GAAP billings: $709.54 million versus $689.77 million estimated by four analysts on average.

  • Total Customers: 1,500 thousand versus the two-analyst average estimate of 1,554.35 thousand.

  • Revenue- Professional services and other: $18.16 million versus the six-analyst average estimate of $17.82 million. The reported number represents a year-over-year change of -17.8%.

  • Revenue- Subscription: $691.48 million compared to the $688.15 million average estimate based on six analysts. The reported number represents a change of +8.2% year over year.

  • Non-GAAP subscription gross profit: $581.92 million compared to the $577.06 million average estimate based on six analysts.

  • Non-GAAP Professional services and other gross profit: $0.25 million versus -$1.31 million estimated by six analysts on average.

View all Key Company Metrics for DocuSign here>>>

Shares of DocuSign have returned -6.9% over the past month versus the Zacks S&P 500 composite's +4.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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