Shares of DocuSign were active in after-hours trading after the software firm reported its latest results.
For the quarter ending in July, DocuSign reported total revenue of $342.2 million, up 45% year-over-year and well above a Wall Street consensus of $319 million. Its net income was 17 cents per share on a non-GAAP, diluted basis, beating non-GAAP estimates of 7 cents per share.
"In an accelerating digital world where business can be conducted from anywhere, the need to agree electronically and remotely has never been stronger, as shown in our 61% year-over-year billings growth," said DocuSign CEO Dan Springer. "We are just scratching the surface of our Agreement Cloud opportunity and believe we are increasingly becoming an essential cloud-software platform for organizations of all sizes."
DocuSign reported billings of $405.7 million in the second quarter, along with a non-GAAP gross margin of 78%. Its free cash flow was $99.8 million, compared to $11.9 million in the same period last year, and it closed the quarter with $740.6 million in cash and cash equivalents.
For the current quarter, DocuSign guided for total sales of $358 to $362 million, beating a consensus of $335 million. For the full year, it guided for total sales between $1.38 and $1.39 billion, also beating a consensus of $1.32 billion.
In addition, the company announced Kamal Hathi as its new chief technology officer.