Docusign Inc (NASDAQ:DOCU) stock rose 3.58% (As on December 8, 11:12:49 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the third quarter of FY 23 and offered a better-than-outlook for its fourth quarter. Subscription revenue was $682.4 million, an increase of 9% year-over-year. Professional services and other revenue was $18.1 million, a decrease of 16% year-over-year. Billings were $691.8 million, an increase of 5% year-over-year. Net cash from operating activities was $262.2 million, up from $52.5 million in the same quarter of last year and fresh cash flow in the quarter was $240.3 million, up from $36.1 million. As of the end of October, DocuSign had $1.7 billion in cash, cash equivalents and investments.

DOCU in the third quarter of FY 23 has reported the adjusted earnings per share of 79 cents, beating the analysts’ estimates for the adjusted earnings per share of 63 cents. The company had reported the adjusted revenue growth of 9 percent to $700.4 million in the third quarter of FY 23, beating the analysts’ estimates for revenue of $690.26 million.

For its fourth quarter and full fiscal year, DocuSign expects revenue of $696 million to $700 million and $2.746 billion and $2.75 billion, respectively. Both were higher than analysts expectations of $690.26 million and $2.73 billion.

Meanwhile, there was integration between DocuSign eSignature and Microsoft Power Pages, which easily integrates DocuSign eSignature into Microsoft’s DIY website builder, Power Pages. This integration allows Power Pages makers to give customers a secure way to digitally sign documents without leaving their website—even forms that require multiple steps. Teams in any industry can use this functionality to simplify workflows for common documents that need to be signed (e.g. consent forms, medical agreements, benefits forms, license applications, etc.). The company has signed Seamlessly Embedded Agreements: An enhancement to Embedded Signing enables users to easily configure the display format so that agreements can seamlessly match the look and feel of websites or applications. Users can also configure different signing methods, including click-to-sign, to eliminate friction points and optimize conversion rates to eliminate potential abandonment of agreements. Another new offering was the implementation of agreement reminders for CLM Essentials customers. The feature is said to enable efficient contract management by allowing users to set custom email reminders for critical contract milestones, such as expiration, renewal, or follow-up deadlines.