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DocuSign Beats Q4 Earnings and Sales Estimates, But Shares Fall

DocuSign reported adjusted EPS of $0.37 on revenue of $430.9 million, both of which were ahead of analyst consensus estimates.
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DocuSign  (DOCU) - Get DocuSign Inc. Report reported fiscal fourth quarter results Thursday after the close that beat analyst estimates for both earnings and revenue.

The e-signature solution company reported adjusted EPS of $0.37 on revenue of $430.9 million, versus analyst consensus estimates of earnings of $0.22 a share and revenue of $408 million, according to FactSet.

Revenue increased 57% from the same period the previous year, with subscription revenue increasing 59% to $410.2 million, and professional services and other revenue rising 23% year-over-year to $20.7 million. Billings were $534.9 million, an increase of 46% year-over-year.

Shares of DocuSign were falling 2.9% to $218.70 after-hours on Thursday, after rising 5.9% during the day. DocuSign shares have jumped almost 193% over the past 12 months, compared to a 43.7% rise in the S&P 500 over the same time period. 

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For fiscal 2021, DocuSign's total revenue was $1.5 billion, an increase of 49% from the previous year. Subscription revenue rose 50% year-over-year to $1.4 billion, while professional services and other revenue increased 29% year-over-year to $71.7 million.

"Fiscal 2021 was a milestone year for DocuSign,” said Dan Springer, CEO of DocuSign, in a statement. “We became a pillar of the 'anywhere economy' that lets people increasingly do anything in life and work from anywhere.”

Springer added that “in the process, we grew our business nearly 50%, reached almost $1.5 billion in revenues, and achieved a record net retention rate of 123%. We believe this performance represents an acceleration of the ongoing trend towards the digital transformation of agreements."