Shares of DocuSign were flying higher in aftermarket action Thursday after the e-signature company topped expectations with its latest financial results.
The company posted a fiscal third-quarter net loss of $30 million, or 15 cents a share, compared with $6 million, or 3 cents a share, in the year-earlier period. On an adjusted basis, the company earned 57 cents a share, down a penny from 58 cents a share a year before, but significantly above the FactSet consensus, which was for 42 cents a share.
Revenue rose to $646 million from $545 million a year ago, whereas the FactSet consensus called for $627 million. DocuSign
posted $624 million in subscription revenue and $21 million in professional services and other revenue.
DocuSign reported $659.4 million in billings, defined as “sales to new customers plus subscription renewals and additional sales to existing customers.” Analysts tracked by FactSet were looking for $588.6 million.
The stock was up 13% in after-hours trading shortly after the release of the results.
For the fiscal fourth quarter, DocuSign executives expect $637 million to $641 million in total revenue, while the FactSet consensus was for $641 million. Executives also anticipate $705 million to $715 million in bookings, compared with the $707 million FactSet consensus.
Chief Executive Allan Thygesen said in a release that the company was making “continued progress against our critical priorities.”
DocuSign shares have fallen 71% so far this year, as the S&P 500
has slipped 17%.