Docusign Inc (NASDAQ:DOCU) stock plunges 22.19% (As on Mar 11, 11:04:25 AM UTC-4, Source: Google Finance) after the company issues weak revenue guidance for the first quarter and fiscal year. The e-signature software maker beat analysts’ expectations on the top and bottom lines for the fourth quarter and announced a $200 million stock buyback. Professional services and other revenue was $16.8 million, a decrease of 19% year-over-year. Billings were $670.1 million, an increase of 25% year-over-year. The subscription revenue grew 37% year-over-year to $564 million. The international revenue continued to outpace the domestic growth at 55% year-over-year to $138 million in the fourth quarter, contributing 24% of total revenue. Fourth quarter billings rose 25% year-over-year to $670 million, leading to a 4-quarter rolling average of 37%. With the addition of nearly 60,000 new customers in the fourth quarter, the total installed base grew 31% for the full year with over 1.17 million customers worldwide. The company added 10,000 new direct customers in Q4 and 45,000 for the year, a 36% increase year-over-year, bringing the total to 170,000 direct customers. Customers with an annual spend greater than $300,000 grew 42% year-over-year in the fourth quarter to 852 customers.

DOCU in the fourth quarter of FY 22 has reported the adjusted earnings per share of 48 cents, beating the analysts’ estimates for the adjusted earnings per share of 47 cents. The company had reported the adjusted revenue growth of 35 percent to $581 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $560.9 million. Non-GAAP operating margin was 18% compared to 17% last year. Non-GAAP net income for Q4 was $100 million compared with $77 million in the fourth quarter of last year. The company exited the year with $898 million in cash, cash equivalents, restricted cash and investments. Operating cash flow in the fourth quarter grew 41% year-over-year to $88 million or a 15% margin. Free cash flow for the quarter was $70 million or 12% margin compared to $44 million or 10% in the prior year, a 60% increase year-over-year.

Meanwhile, on February 15, 2022, DocuSign and Zoom Communications announced a partnership to make it even easier to complete agreements from anywhere. DocuSign eSignature for Zoom enables organizations to reimagine agreement processes with virtual, face-to-face signing experiences that accelerate time to agreement while building trust and loyalty. Through this partnership, signers can find, review and complete agreements live within Zoom.