DocuSign Stock Slides As Q3 Earnings Beat Fails To Impress

Benzinga

DocuSign topped Q3 expectations with solid revenue and earnings, stronger subscription growth, and double-digit billings. Cash flow remained strong, but shares slipped in after-hours trading despite the company raising its full-year outlook.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03DocuSign reported third quarter revenue of $813.35 million and adjusted earnings of $1.01 per share,

00:11beating analyst estimates, according to Benzinga Pro.

00:15Subscription revenue rose 9% to $801 million, and professional services revenue increased 14%

00:22to $17.4 million, driving total revenue growth of 8%.

00:26Billings reached $829.5 million, up 10% from last year.

00:32DocuSign generated $290.3 million in operating cash flow and $262.9 million in free cash flow

00:40and repurchased $215.1 million in stock.

00:44The company ended the quarter with approximately $1 billion in cash, cash equivalents, and investments.

00:51DocuSign expects fourth quarter revenue of $825 million to $829 million

00:56and raised its full-year revenue outlook to a range of $3,208,000,000 to $3,212,000,000.

01:03Shares were down 4.12% in after-hours trading on Thursday, according to Benzinga Pro.

01:08For all things money, visit Benzinga.com.

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