The earnings call reflects a positive outlook for DocuSign, with strong revenue growth, successful adoption of IAM, and continued innovation. However, challenges with early renewals and a cautious approach to the economic environment slightly tempered the optimism.

Company Guidance -

Q2 2026

During the first quarter of fiscal year 2026, DocuSign reported a strong financial performance with revenue reaching $764 million, reflecting an 8% growth year-over-year, driven by new customers adopting the Intelligent Agreement Management (IAM) platform and contributions from self-serve digital sales. The company achieved a 29.5% operating margin, up by 1% from the previous year, and a robust 30% free cash flow margin enabled further share repurchases, with an additional $1 billion authorization for buybacks. However, billings growth came in slightly below the guidance at 4% year-on-year due to lower early renewals, a timing issue rather than a demand issue. Despite this, DocuSign reported improvements in gross retention and dollar net retention rates, with IAM now being the fastest-growing offering in the company's history, gaining over 10,000 customers. The company also saw growth in attendance at their Momentum conference, which increased by 70% over the previous year.

Strong Revenue and Profitability

DocuSign reported Q1 fiscal 2026 revenue of $764 million, showing 8% year-over-year growth. Operating margins improved by 1% to 29.5%, and the company achieved a 30% free cash flow margin.

Successful Launch and Adoption of IAM

The IAM platform has become the fastest-growing offering in DocuSign's history, with over 10,000 customers. IAM sales exceeded expectations and are on track to account for a double-digit percentage of the subscription book of business by the end of Q4.

Continued Innovation

DocuSign introduced a series of new AI-powered features at its Momentum conference. These include Agreement Desk, Workspaces, and custom extractions, which enhance the Create, Commit, and Manage phases of the agreement life cycle.

Positive Trends in Customer Engagement

The company reported improvements in customer usage metrics, with increased envelope sending and customer contract utilization. Gross retention and dollar net retention also showed year-over-year improvements.

Shareholder Returns and Financial Position

DocuSign repurchased $183 million of stock in Q1 and announced an additional $1 billion in buybacks. The company has over $1.1 billion in cash, cash equivalents, and investments, with no debt.

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
Sep 04, 2025	2026 (Q2)	0.84 / -	0.97	―	―	―
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)
Jun 08, 2023	2024 (Q1)	0.56 / 0.72	0.38	89.47% (+0.34)

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
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%
Sep 05, 2024	$56.93	$59.19	+3.97%

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.