DocuSign reported Q1 results with a 7% year-over-year revenue increase to $710 million, surpassing the $707 million consensus. Earnings per share were $0.82, beating expectations due to controlled operating expenses and stable margins. However, billings grew only 5% to $709 million, prompting caution as full-year billings guidance suggests further slowdown. Operating margins are expected to decline to 21-22% from 23%. New AI features received positive feedback, but mixed forecasts led to a stock drop as YTD gains were largely wiped out.
DocuSign's Q1 results modestly exceeded expectations, yet forward billings guidance revealed a cautious outlook, contributing to a subsequent decline in stock value.
Despite a 7% year-over-year revenue increase to $710 million, future revenue guidance remained unchanged, leading to investor disappointment and a drop in stock price.
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