The earnings call highlighted strong revenue and billings growth, successful sales strategy changes, and significant progress in the IAM platform. Despite some challenges related to cloud migration costs and tough year-over-year comparisons, the overall performance and outlook remain positive.

Company Guidance

During the Q2 Fiscal 2026 earnings call, DocuSign provided robust guidance, highlighting several key metrics. Revenue for the quarter was reported at $801 million, marking a 9% year-over-year increase, while billings reached $818 million, a 13% rise from the previous year. The company's non-GAAP operating margin was 30%, and free cash flow margin improved to 27%, supporting $200 million in share buybacks. DocuSign's dollar net retention rate increased to 102%, reflecting strong customer retention and expansion. The company anticipates total Q3 revenue between $804 to $808 million and fiscal 2026 revenue between $3.189 to $3.201 billion, each representing a 7% annual growth at the midpoint. Additionally, Q3 billings are expected to be between $785 to $795 million, with fiscal 2026 billings forecasted at $3.325 to $3.355 billion, both reflecting steady growth. DocuSign continues to focus on strengthening its go-to-market strategies and accelerating innovation, particularly with its AI-native Intelligent Agreement Management (IAM) platform, which is projected to form a low double-digit percentage of the subscription book by year-end.

Strong Revenue and Billings Growth

Revenue was $801 million, up 9% year over year, and billings were $818 million, up 13% year over year. This marked one of the strongest growth quarters in the past two years.

High Non-GAAP Operating Margins

Non-GAAP operating margins were 30%, with free cash flow margins improving to 27%, supporting significant share repurchases with $200 million buybacks.

Successful Go-to-Market Changes

The introduction of new sales segments and territories led to strong direct sales performance and growth in gross new bookings. Dollar net retention increased to 102%.

Growth in IAM Platform

IAM customers represented a greater share of direct deal volume and total gross bookings. More than 50% of enterprise account reps closed at least one IAM deal.

Recognition and Innovation in CLM

DocuSign was recognized as a leader in the 2025 IDC MarketScape AI-enabled buy-side CLM report. CLM delivered strong year-over-year quarterly bookings growth.

DocuSign (DOCU) Earnings, Revenues Date & History

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DOCU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Dec 04, 2025	2026 (Q3)	0.92 / -	0.9	―	―	―
Sep 04, 2025	2026 (Q2)	0.85 / 0.92	0.97	-5.15% (-0.05)
Jun 05, 2025	2026 (Q1)	0.81 / 0.90	0.82	9.76% (+0.08)
Mar 13, 2025	2025 (Q4)	0.85 / 0.86	0.76	13.16% (+0.10)
Dec 05, 2024	2025 (Q3)	0.87 / 0.90	0.79	13.92% (+0.11)
Sep 05, 2024	2025 (Q2)	0.81 / 0.97	0.72	34.72% (+0.25)
Jun 06, 2024	2025 (Q1)	0.79 / 0.82	0.72	13.89% (+0.10)
Mar 07, 2024	2024 (Q4)	0.65 / 0.76	0.65	16.92% (+0.11)
Dec 07, 2023	2024 (Q3)	0.63 / 0.79	0.57	38.60% (+0.22)
Sep 07, 2023	2024 (Q2)	0.66 / 0.72	0.44	63.64% (+0.28)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DOCU Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Sep 04, 2025	$76.24	$79.86	+4.75%
Jun 05, 2025	$92.90	$75.28	-18.97%
Mar 13, 2025	$74.70	$85.76	+14.81%
Dec 05, 2024	$83.68	$106.99	+27.86%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.