Summary by Futu AI
DocuSign, a leader in electronic signature and contract lifecycle management (CLM) products, has reported its financial results for the second quarter ended July 31, 2024. The company saw a total revenue increase to $736.027 million, up from $687.687 million in the same period last year, marking a 7% year-on-year growth. Subscription revenue, which represents 97% of total revenue, increased by 7% to $717.366 million. Net income experienced a significant surge to $888.211 million, compared to $7.395 million in the previous year, primarily due to the release of a valuation allowance related to U.S. deferred tax assets. Operating income also saw a substantial rise to $57.801 million from $6.612 million. DocuSign's customer base grew to approximately 1.6 million, including around 253,000 enterprise and commercial customers, up from 226,000 the previous year. The...Show More