DocuSign jumps on strong earnings

  • DocuSign beat estimates on earnings and revenue in its first quarter as a public company.
  • The company went public in April.
Dan Springer
David Paul Morris | Bloomberg | Getty Images
Dan Springer

Electronic signature company DocuSign saw its stock jump as much as 10 percent on Thursday after it reported strong results in its first earnings statement as a public company.

Here's how the company did:

  • Earnings: Excluding certain items, 1 cent per share, vs. loss of 7 cents per share as expected by analysts, according to Thomson Reuters.
  • Revenue: $155.8 million vs. $146.2 million as expected by analysts, according to Thomson Reuters.

The company said in a statement that revenue was up 37 percent year over year in the first quarter of its 2019 fiscal year, which ended on April 30. Most of the company's revenue comes from subscriptions, and that category was up 39 percent year to year.

DocuSign beat expectations on guidance.

For its fiscal second quarter, the company expects $157-160 million in revenue for that period, above the $151.5 million analyst consensus, according to Thomson Reuters.

And for the entire 2019 fiscal year, DocuSign thinks it will post $652-658 million in revenue, well above the FactSet analyst consensus of $627.6 million, according to Thomson Reuters.

The company added 30,000 customers in the fiscal first quarter and now has more than 400,000 of them. CEO Dan Springer told analysts on a conference call on Thursday he expects to "continue to see the share of revenue internationally grow faster than domestically."

DocuSign is one of several tech companies that have gone public in recent months, including Dropbox and Zuora. The stock debuted on the Nasdaq in April.