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

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 company's international revenue accounted for 28% of the total, up from 26% in the prior year. DocuSign continues to invest in growth, focusing on expanding its customer base, retaining and expanding contracts with existing customers, and increasing international revenue. The company has also introduced its IAM platform and plans to continue rolling out the platform across additional segments and geographies. DocuSign's future plans include optimizing omnichannel go-to-market opportunities, accelerating product innovation, and evaluating strategic acquisitions and investments to support long-term growth.