DocuSign Shares Drop 18% on Disappointing Outlook
Tiger Newspress2022-03-11
Docusign shares drop 18% on disappointing outlook in premarket trading.
DocuSign reported Q4 EPS of $0.48 coming in better than the consensus estimate of $0.47, while Q1 and full 2023-year outlook was disappointing.
Revenue grew 35% year-over-year to $580.8 million, compared to the consensus estimate of $561.47 million. Subscription revenue grew 37% year-over-year to $564.0 million, and professional services and other revenue decreased 19% year-over-year to $16.8 million. Billings grew 25% year-over-year to $670.1 million.
The company expects Q1/23 revenue in the range of $579-583 million, compared to the consensus of $594.4 million. For the full 2023-year, the company expects revenue in the range of $2.47-2.482 billion, compared to the consensus of $2.61 billion.
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