📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

DocuSign, Inc. provides electronic signature solution in the United States and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding DOCU

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	3.17M	$150.3M	0.24%	Mar 2026
Steve Cohen Point72 Asset Management	2.24M	$106.2M	0.14%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2026

Confident Specific

Management repeatedly used phrases like 'outstanding quarter', 'strong execution', 'outperformed expectations', and provided specific figures (e.g., revenue $801M up 9%, billings $818M up 13%, DNR 102%). They highlighted concrete customer examples and product launches. The tone was assured and detailed, not vague or defensive.

Q3 2026

Confident Specific

Management uses phrases like 'standout quarter', 'one of the higher growth quarters', 'executing effectively', and 'strong profitability' to convey confidence, while providing specific metrics such as 25,000 IAM customers, 8% revenue growth, and 31% non-GAAP operating margin, making the tone specific and data-driven.

Q4 2026

Confident Specific

Management repeatedly uses specific figures (IAM ARR $350M, 10.8% of total, free cash flow >$1B, billings >$1B) and provides explicit ARR guidance (8.25-8.75% growth) and IAM share target (18% by year-end). Language is optimistic and data-driven, e.g., 'clear market leadership', 'durable long-term growth', 'accelerating the business'.

Q1 2027 latest

Confident Specific

Management used definitive language like 'continued strong demand', 'demonstrated the business durability', 'exciting', and provided numerous specific metrics (9% revenue growth, 32% operating margin, 35% free cash flow margin, 12.6% IAM ARR share) to project certainty about the business trajectory and transformation.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. DocuSign demonstrated accelerating ARR momentum, robust IAM adoption (12.6% ARR, on track to 18%), improved dollar net retention, and a clear AI-driven product roadmap. The company also achieved significant operating leverage (32% margins, 35% free cash flow) while increasing buybacks. Key watch items for next quarter: continued IAM enterprise penetration, further DNR improvement, and whether the 8.5% FY ARR growth guidance is achievable given macro headwinds. The shift to consumption-based pricing and agentic capabilities could expand the total addressable market, but execution risk remains as the sales force ramps on a broader portfolio.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED DocuSign Q1 revenue $830M (+9% YoY); IAM reaches 12.6% of ARR, 40K customers.

Revenue & Profitability

Q1 non-GAAP operating income was $266 million (32% margin). Free cash flow reached $289 million (35% margin). Non-GAAP diluted EPS was $1.09, up 21% YoY; GAAP diluted EPS was $0.40, up 18% YoY. The company repurchased $318 million in shares.

Outlook

Management sees an inflection point in agreement management and expects accelerating ARR growth in fiscal 2027, driven by IAM adoption and retention improvements. A Deloitte study cited a 10x ROI difference for end-to-end AI platforms like IAM versus point products.

Growth Drivers

IAM bookings grew faster year-over-year in North America Enterprise than any other segment. International business grew double-digits excluding FX. Customers over $300k ACV accelerated to 12% YoY, the first double-digit growth in three years. Partner-contributed revenue grows significantly faster than overall revenue.

Balance Sheet & CapEx

Not discussed in detail. The company is completing the bulk of its on-prem to cloud data center migration this fiscal year, which is expected to cause a slight year-over-year decline in gross margins.

Margins

Non-GAAP gross margin was 81.5% in Q1, with full-year guidance of 81.5%-82.0%. Non-GAAP operating margin was 32.0% in Q1; fiscal 2027 guidance raised 0.5 points to 30.5%-31.0%. Operating leverage comes from expense discipline, hiring in lower-cost locations, and AI-assisted productivity (75% of new code is AI-assisted).

Key Risks

Not explicitly flagged by management. Analysts raised questions about macro uncertainty and growth deceleration, but management expressed confidence in accelerating ARR growth. Retention improvement is a key focus area to mitigate churn risk.

Generated by AI · Q1 2027 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q1 2027 Q1 2027 2026-06-04

Q1 FY27 revenue grew 9% year-over-year to $830 million, with IAM adoption accelerating and now 12.6% of ARR. Operating margin improved to 32%, free cash flow margin reached 35%, and the company executed a record $318 million in share buybacks.

Q4 2026 Q4 2026 2026-03-17

Fiscal 2026 saw strong growth with revenue up 8% YoY, billings surpassing $1B in Q4, and IAM ARR reaching $350M. Guidance for fiscal 2027 anticipates ARR growth of 8.25%-8.75%, with IAM expected to exceed $600M in ARR and represent 18% of total ARR.

Q3 2026 Q3 2026 2025-12-04

Q3 saw 8% revenue growth and record free cash flow, driven by strong IAM and eSignature adoption. International revenue reached 30% of total, and the company executed its largest-ever share buyback. Guidance for FY26 was raised, with a transition to ARR metrics ahead.

Q2 2026 Q2 2026 2025-09-04

Q2 delivered 9% revenue growth and 13% billings growth year-over-year, driven by strong e-signature, CLM, and accelerating IAM adoption. Profitability remained high, with a 30% non-GAAP operating margin and $200M in share buybacks. Guidance for FY26 was raised on continued momentum.

Q1 2026 Q1 2026 2025-06-05

Q1 FY26 delivered 8% revenue growth and strong IAM adoption, with operating and free cash flow margins improving. Billings were slightly below guidance due to early renewal timing, but fundamentals and guidance remain robust, supported by innovation and capital returns.

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.