DocuSign CEO on Q1 earnings: ‘we are well-positioned for future’

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Written on Jun 8, 2023

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DocuSign reports a strong Q1 and issues upbeat guidance.
It named American Express executive Anna Marrs to board.
DocuSign stock gained as much as 10% in extended hours.

DocuSign Inc (NASDAQ: DOCU) jumped 10% in extended trading on Thursday after reporting market-beating results for its first financial quarter.

DocuSign stock up on strong guidance

Investors are rewarding the stock also because the management issued upbeat guidance for the future. DocuSign is now calling for $2.71 billion to $2.73 billion in revenue this year, including up to $679 million it expects in Q2.

In comparison, analysts were at $667.7 million for the quarter and $2.7 billion for the year. CEO Allan Thygesen said in the press release:

I’m encouraged by our progress to enable smarter, easier, trusted agreements. As we continue to execute on our strategy and leverage our competitive advantages, notably in AI, DocuSign is well positioned for the future.

For the year, DocuSign stock is now up nearly 20%.

Notable figures in DocuSign Q1 earnings print

Earned $539,000 and broke even on a per-share basis
Had $27.3 million loss a year ago (14 cents per share)
Adjusted EPS almost doubled to 72 cents per share
Revenue went up 12% year-on-year to $661.4 million
Consensus was 56 cents a share on $641.7 million revenue

DocuSign names AMEX executive to board

On Thursday, DocuSign also named Anna Marrs to its board. Marrs has served as an executive at American Express. According to Mary Agnes “Maggie” Wilderotter – Chairman of the Board:

Anna brings invaluable expertise to our board. Her senior executive experience leading global financial institutions will enrich our board discussions and strategic decision-making.

Earlier this year, the e-Signature company said it will lower its headcount by about 10% (find out more). Wall Street currently has a consensus “hold” rating on DocuSign stock.