Docusign Inc (NASDAQ:DOCU) gave strong guidance

Docusign Inc (NASDAQ:DOCU) stock rose 7.80% (As on September 9, 11:27:52 AM UTC-4, Source: Google Finance) after the company delivered a solid earnings beat and raised its full-year subscription revenue guidance. DocuSign also reported billings of $647.7 million, up 9% from a year ago. DocuSign reported that its subscription revenue rose by 23% in the quarter, to $605.2 million. Professional services and other revenue was $17.0 million, a decrease of 11% year-over-year. Net cash provided by operating activities was $120.9 million compared to $177.7 million in the same period last year. Free cash flow was $105.5 million compared to $161.7 million in the same period last year. Cash, cash equivalents, restricted cash and investments were $1,129.6 million at the end of the quarter.

DOCU in the second quarter of FY 22 has reported the adjusted earnings per share of 44 cents, beating the analysts’ estimates for the adjusted earnings per share of 42 cents. The company had reported the adjusted revenue growth of 22 percent to $622.2 million in the second quarter of FY 22, beating the analysts’ estimates for revenue of $602.1 million.

Looking to the third quarter, DocuSign expects sales to be of between $624 million and $628 million, the midpoint of which is just ahead of the analyst consensus estimate of $625 million. The company also raised its full-year subscription revenue guidance, up from an earlier range of $2.394 billion to $2.406 billion, to a new range of $2.405 billion to $2.417 billion.

On the other hand, DocuSign Notary has introduced support for notaries seated in two additional U.S. states, New Jersey and Oregon, bringing the total number of states supported by DocuSign Notary to 25. DocuSign CLM has introduced a new CLM Integration within Slack that enables customers to collaborate and move their agreements forward in a more streamlined way. DocuSign eSignature has introduced Shared Access, which allows a user to be granted permission to send or manage envelopes on another user’s behalf, and announced enhancements to Bulk Send and Agreement Actions. DocuSign eSignature App for Stripe has a new integration that allows account, finance and support teams to view eSignature agreements and Stripe payments side-by-side and launch new agreements right from their Stripe dashboards. Stripe users no longer need to go between the two platforms to complete transactions, support customers, or review transactions.

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