Why Docusign Inc (NASDAQ: DOCU) Stock is Going Gangbusters Today

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Docusign Inc (NASDAQ: DOCU) stock surged over 15.3% on 4th June, 2021 (as of 11:28:51 UTC-4 · USD ; Source: Google finance) as the company posted better than expected results for the first quarter of FY 22. Billings grew 54% year-over-year to $527.4 million. The company delivered Non-GAAP gross margin of 81% compared to 79% in the same period last year. The company generated Net cash provided by operating activities of $135.6 million compared to $59.1 million in the same period last year. The company generated free cash flow of $123 million compared to $32.8 million in the same period last year. Cash, cash equivalents, restricted cash and investments stood at $875.8 million at the end of the quarter.

DOCU in the first 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 27 cents. The company had reported the adjusted revenue growth of 58 percent to $469.1 million in the first quarter of FY 22, beating the analysts’ estimates for revenue of $434.9 million.

For the second quarter ending in August, DocuSign expects revenue to be in the range of $479 million to $485 million. The company expects full-year revenue to be in the range of $2.03 billion to $2.04 billion. The analysts had forecast $474.7 million and $1.99 billion, respectively.

For the second quarter of 2022, the company expects subscription revenue to be in the range of $459 to $465, Billings is expected to be in the range of $549 to $561, Non-GAAP gross margin is expected to be in the range of 79% to 81% and Non-GAAP operating margin is expected to be in the range of 16% to 18%.

For fiscal 2022, the company expects subscription revenue to be in the range of $1,953 to $1,965, Billings is expected to be in the range of $2,338 to $2,362, Non-GAAP gross margin is expected to be in the range of 79% to 81%, Non-GAAP operating margin is expected to be in the range of 16% to 18% and Provision for income taxes is expected to be in the range of $10 to $12.

Meanwhile, the company during the quarter, announced several exciting new product capabilities, including new features in DocuSign eSignature including the data visualization tool Signing Insights, improved data verification, eWitness enhancements, and eSignature for Microsoft Teams. Another new features in DocuSign CLM includes the new CLM 360 dashboard for assessing and managing supplier relationships in terms of relevant agreements and amendments, as well as Workday Financial Management and Netsuite Financials Integrations.

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