DocuSign Shares Higher After Q2 Sales Beat, Revenue Up 41%

Docusign Inc DOCU shares are sharply higher after reporting a mixed second-quarter earnings print.

Earnings came in at 1 cent per share, missing estimates by 3 cents. Sales came in at $235.6 million, beating estimates by $14.67 million.

The company sees third-quarter sales between $237 million-$241 million and 2020 sales between $947 million-$951 million.

"With revenue growth exceeding 40% and billings growth at 47%, our second quarter performance reflects our clear leadership position in e-signature and increasing adoption of our broader Agreement Cloud offering," said CEO Dan Springer. "In the second quarter, we added 29,000 new customers onto the platform, bringing our total to 537,000 worldwide. We truly believe the Agreement Cloud category has the potential to be as big as CRM and ERP one day and our customers are increasingly buying in."

Highlights

• Revenue increased 41% year-over-year
• Subscription revenue increased 39% year-over-year
• Professional services and other revenue increased 72% year-over-year
• Billings increased 47% year-over-year

DocuSign shares traded higher by 14.7% in the after-hours session. The stock closed at $46.25 per share.