On March 10, DocuSign Inc. (DOCU) reported its financial results for Q4 and fiscal 20212 ended on January 31, along with future outlook. While the company met its Q4 expectations, the weak outlook disappointed investors. Consequently, the stock suffered a harsh blow in the after-hours as it reached a new 52-week low.
It seems investors were already worried about the upcoming earnings as the stock traded in the red during the regular session. While the volume remained above average, DOCU suffered a loss of 4.25% during the session. At the end of the session, the stock had a value of $93.88 per share as 11.52 million shares traded hands. Following the results, the stock declined by a further 17.16% to reach a value of $77.77 per share in the after hours. Thus, at 4.74 million shares, DOCU reported its new 52-week low in the after-hours session on Thursday. The previous reported 52-week low was $90.90.
The cloud-based electronic signature solutions provider, DocuSign Inc. has a market capitalization of $19.4 billion. Currently, the company has 197.88 million shares outstanding in the market.
DOCU’s Q4 Fiscal 2022
For Q4 fiscal 2022, the company reported a YOY growth of 35% in its total revenue to $580.8 million.
Moreover, DOCU had a non-GAAP net income per diluted share of $0.48 in the quarter, against $0.37 in the comparable period of last year.
The gross margin was 77% while the billings were $670.1 million in Q4 fiscal 2022.
Fiscal 2022 Highlights
For fiscal 2022, DOCU reported total revenues of $2.1 billion with a YOY growth of 45%.
Furthermore, the non-GAAP net income per diluted share was $1.98 in fiscal 2022, against $0.90 in the previous year.
The reported gross margin was 78% and billings were $2.4 billion for fiscal 2022.
DOCU’s Future Outlook
The company expects billings of $573-$583 million and revenue of $579-$583 million for Q1 fiscal 2023. The expected non-GAAP gross margin is between 79% and 81%.
Additionally, for fiscal 2023, DOCU expects billings of $2,796-$2,726 million and revenue of $2,470 and $2,482 million. The expected non-GAAP gross margin is also 79-81% for fiscal 2023.
Recent Developments
On March 07, the company announced the appointment of its first Chief Diversity and Engagement Officer (CDEO), Iesha Berry. Iesha joined the company with vast experience of over two decades in diversity, equity, and inclusion.
