DocuSign Q1 Loss Narrows

(RTTNews) - DocuSign, Inc. (DOCU), Thursday reported first-quarter net loss of $8.4 million or $0.04 per share, narrower than last year's loss of $47.8 million or $0.26 per share last year.

Adjusted earnings for the quarter were $0.44 per share, up from $0.12 per share last year.

Revenue for the quarter increased 58% to $469.1 million from $297.0 million last year. Subscription revenue gained 61% to $451.9 million, while Professional services and other revenue rose 7% to $17.1 million.

Analysts polled by Thomson Reuters expected earnings of $0.28 per share on revenues of $437.81 million.

Billings were $527.4 million, an increase of 54% year-over-year. Gross margin was 78% compared to 75% in the same period last year.

Looking forward to the second quarter, the computer expects revenues of $479 million to $485 million. Analysts currently estimate revenues of $473.68 million.

For the full year 2022, the company expects revenues of $2.03 billion to $2.04 billion. Analysts currently estimate revenues of $1.98 billion.