DocuSign reports £43.53 million of net loss in the fiscal third quarter

DocuSign Inc. (NASDAQ: DOCU) reported its financial results for the fiscal third quarter on Friday that topped analysts’ estimates for earnings and revenue amidst the Coronavirus pandemic that fuelled demand for digital contracts in recent months.

DocuSign said that its net loss in the third quarter printed at £43.53 million that translates to 23.07 pence per share. In the comparable quarter of last year, it had reported a narrower £34.67 million of net loss or 19.35 pence per share.

DocuSign’s Q3 financial results versus analysts’ estimates

On an adjusted basis, the American company earned 16.37 pence per share in the recent quarter versus the year-ago figure of 8.18 pence per share. In terms of revenue, DocuSign posted £284.91 million in Q3 versus £186.02 million in the same quarter last year.

According to FactSet, experts forecast the company to register £268.61 million of revenue in the third quarter. Their estimate for per-share earnings in Q3 was capped at a lower 9.67 pence per share.

In separate news from the United States, Marvell Technology also published estimates beating financial results for the fiscal third quarter on Thursday.

Other prominent figures in DocuSign’s earnings report on Thursday include £327.69 million of billings in the recent quarter versus £200.45 million last year. FactSet Consensus for billings in Q3 stood at £287.66 million.

DocuSign’s guidance for the fiscal fourth quarter

For the fiscal fourth quarter, DocuSign now forecasts its revenue to fall in the range of £300.61 million to £303.58 million. The company expects up to £388.41 million of billings in Q4. In comparison, analysts expect its revenue at £287.96 million in the fourth quarter and billings at £374.94 million.

Commenting on COVID-19 fuelled digital transformation this year, CEO Dan Springer of DocuSign said on Thursday:

“We’re seeing CIOs in our customers settling down a little bit, we’re still in the pandemic, but we understand we need to build our business to last and we need to get these digital transformation projects done.”

At £181 per share, DocuSign is currently more than 200% up year to date in the stock market. On 1^st September, the stock had rallied to as high as £200 per share. DocuSign shares, that you can learn to buy online here, also performed largely upbeat in the stock market last year with an annual gain of close to 90%. At the time of writing, the San Francisco-based company is valued at £33.51 billion.