DocuSign delivers strong Q4, sees momentum for its Agreement Cloud
Last Updated on by Segun Ayo
DocuSign reported strong fiscal fourth quarter results as its Agreement Cloud showed some momentum and broadened its customer base.
The company reported a fourth quarter net loss of 26 cents a share on revenue of $274.9 million, up 38% from a year ago. Non-GAAP earnings for the quarter were 12 cents a share.
Wall Street was looking for DocuSign to report fourth quarter non-GAAP earnings of 5 cents a share on revenue of $266.5 million.
For fiscal 2020, DocuSign reported revenue of $974 million, up 39% from a year ago, billings of $1.1 billion and a net loss of $1.18 a share.
DocuSign’s core business is e-signature services, but the company has broadened out to manage the business agreement life cycle. A recent acquisition of Seal Software for $188 million will bolster its use of artificial intelligence in business contract services.
For the fiscal first quarter, DocuSign projected revenue between $280 million and $284 million with billings of $279 million to $289 million. For fiscal 2021, DocuSign is projecting revenue between $1.27 billion and $1.276 billion. That revenue outlook was better than expectations.