DocuSign Inc
Q2 Earnings: DocuSign said second-quarter revenue increased 11% year-over-year to $687.7 million, which beat the consensus estimate of $677.56 million, according to Benzinga Pro. The company reported quarterly earnings of 72 cents per share, which beat analyst estimates of 66 cents per share.
Billings came in at $711.2 million, up 10% year-over-year, and gross margin was 79%, up from 78% in the prior year's quarter.
Net cash from operating activities totaled $211 million, and free cash flow came in at $183.6 million for the quarter. DocuSign ended the second quarter with $1.5 billion in cash, equivalents, restricted cash and investments.
"Our results for the first half were solid and reflect strong progress on our business transformation," said Allan Thygesen, CEO of DocuSign.
"We increased our pace of innovation by delivering key new features, while strengthening our self-service and partner distribution channels, and we've received tremendous enthusiasm on our product roadmap, particularly from our enterprise customers."
Guidance: DocuSign expects third-quarter revenue to be between $687 million and $691 million versus estimates of $686.03 million. The company sees full-year revenue from $2.725 billion to $2.737 billion versus estimates of $2.72 billion.
DocuSign also authorized a $300 million share repurchase program. The stock was down about 6% year-to-date heading into the print.
Management will hold a conference call to discuss these results at 5 p.m. ET.
DOCU Price Action: DocuSign shares were up 3.01% after hours at $53.70 at the time of publication, according to Benzinga Pro.
