NASDAQ$DOCU

DocuSign Inc · Q2 2025 earnings

Q2 2025 earnings · · Investor relations

Briefing

DocuSign's Q2 2025 financial results showcased improved business stability and increased efficiency, leading to record operating profit.

DocuSign reported a 7% year-over-year increase in total revenue, reaching $736.0 million. The company's focus on efficiency resulted in a record operating profit, and they began shipping their Intelligent Agreement Management (IAM) platform.

  • Total revenue increased by 7% year-over-year to $736.0 million.
  • Subscription revenue grew by 7% year-over-year to $717.4 million.
  • Billings increased by 2% year-over-year to $724.5 million.
  • GAAP net income per diluted share was $4.26, compared to $0.04 in the same period last year.

Headline financials

Total Revenue

$736M

Previous: $688M+7.0%
EPS

$4.26

Previous: $0.72+491.7%
Total Billings

$725M

Previous: $711M+1.9%
Capital Expenditures

-$45M

Previous: -$46.4M+3.0%
Free Cash Flow

$843M

Previous: -$39M+2259.7%
Net Income

$888M

Previous: $7.4M+11911.0%
Operating Income

$57.8M

Previous: $6.61M+774.2%
Gross Profit

$581M

Previous: $542M+7.1%
R&D Expense

$148M

No prior period

Revenue & EPS history

DocuSign · Revenue · Quarterly

$736M

Q2 2025+7%vs Q2 2024
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

DocuSign · $701M total across 2 segments · Q3 2024

  • Subscription
    $682M+9.3%
  • Professional Services
    $18.1M-15.5%

Forward guidance

The company expects total revenue between $743 million and $747 million for the quarter ending October 31, 2024.

Tailwinds

  • Total revenue between $743 million and $747 million
  • Subscription revenue between $722 million and $726 million
  • Billings between $710 million and $720 million
  • Non-GAAP gross margin between 81.0% and 82.0%
  • Non-GAAP operating margin between 28.5% and 29.5%

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q2 2025

Historical avgQ2 2025

-0.9%

Avg return

Earnings day

-1.0%

Avg return

5 days after

+0.1%

Avg return

30 days after

48%

16 / 33 earnings

Positive

+27.4%

Q3 2025

Best reaction

-41.5%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2027-7.3%-11.3%
Q4 2026+1.8%+2.6%-3.8%
Q3 2026-7.7%-3.2%-8.8%
Q2 2026+4.7%+3.4%-8.5%
Q1 2026+0.0%+1.4%+2.3%
Q4 2025+14.8%+14.6%-0.5%
Q3 2025+27.4%+14.1%+7.4%
Q2 2025+3.1%-5.0%+11.2%
Q1 2025-2.8%-2.7%+1.7%
Q4 2024+6.7%+11.5%+13.3%
Q3 2024+5.0%+18.2%+15.4%
Q2 2024-4.9%-12.1%-20.2%
Q1 2024-0.3%-3.4%-13.1%
Q4 2023-24.3%-15.5%-14.0%
Q3 2023+16.8%+37.9%+29.6%
Q2 2023+16.1%+10.5%-13.3%
Q1 2023-26.8%-36.4%-26.2%
Q4 2022-23.5%-21.8%+4.0%
Q3 2022-41.5%-39.9%-34.0%
Q2 2022+4.3%-1.9%-13.3%
Q1 2022+16.3%+20.8%+39.0%
Q4 2021-1.1%-0.7%+0.1%
Q3 2021+11.7%+7.9%+2.1%
Q2 2021-18.4%-22.5%-17.7%
Q1 2021-5.3%-3.8%+29.5%
Q4 2020+3.1%-5.4%+20.8%
Q3 2020+8.0%+4.0%+7.9%
Q2 2020+20.1%+27.9%+33.2%
Q1 2020-9.7%-10.2%-2.2%
Q4 2019-2.1%-1.7%-4.2%
Q3 2019-4.4%+0.5%-1.4%
Q2 2019-10.8%-16.8%-30.2%
Q1 2019+1.0%+7.8%-4.2%
Q3 2017
Q2 2017
Q1 2017

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