DocuSign Posts Narrower Loss, Revenue Jump

DocuSign rose after the provider of electronic signature solutions reported a narrower loss on 58% higher revenue.
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Shares of DocuSign  (DOCU) - Get Report rose after the provider of electronic signature solutions reported a narrower fiscal-first-quarter loss on 58% higher revenue.

The figures, and the company's revenue outlook for the fiscal second quarter and full year, were stronger than Wall Street analysts had estimated.

For the quarter ended April 30, the San Francisco company posted a loss of 4 cents a share compared with a loss of 26 cents a share in the year-earlier quarter. The latest adjusted earnings were were 44 cents a share. 

Shares outstanding advanced 6.2% to 194.3 million from 183 million. 

Revenue reached $469.1 million from $297 million.

DocuSign Has Investment Potential - but Wait for the Report: RealMoney

A survey of analysts by FactSet produced consensus estimates of a GAAP loss of 20 cents a share, or adjusted earnings of 28 cents a share, on revenue of $437.6 million.

At last check DocuSign shares were trading up 5.7% at $205.82. They closed regular Thursday trading down 2.9% at $194.78.

GAAP gross-profit margin widened 3 percentage points to 78%.

For the fiscal second quarter, DocuSign is looking for revenue of $479 million to $485 million. FactSet's survey of analysts is estimating $474.2 million.

And for all of fiscal 2022, the company is estimating revenue at $2.03 billion to $2.04 billion. FactSet's call: $1.99 billion.