The earnings call highlighted strong revenue and customer growth, improved retention rates, and profitability. While there are some concerns about gross margin pressures and temporary cost increases, the overall sentiment reflects optimism due to significant achievements in innovation and strategic investment in the IAM platform.

Company Guidance

During the DocuSign Q3 Fiscal 2025 earnings call, the company provided guidance reflecting strong performance and strategic advancement. DocuSign reported a total revenue of $755 million, marking an 8% year-over-year increase, with subscription revenue contributing $735 million. The dollar net retention rate improved to 100% from 98% in Q4 of fiscal 2024, driven by enhanced customer usage and gross retention. The company also achieved a non-GAAP operating margin of 29.6%, up from 26.8% the previous year. Looking ahead to Q4, DocuSign anticipates total revenue to range between $758 million and $762 million, with subscription revenue expected to be between $741 million and $745 million, both representing a 7% year-over-year growth. Billings for Q4 are projected to be between $870 million and $880 million, a 5% growth rate year-over-year. The non-GAAP gross margin is expected to be between 81.0% and 82.0%, while the non-GAAP operating margin is projected at 27.5% to 28.5%. DocuSign's strategic focus on increasing operating efficiency, accelerating product innovation, and strengthening its omnichannel go-to-market capabilities is expected to continue driving growth into fiscal 2026.

Revenue and Customer Growth

Q3 revenue was $755 million, up 8% year-over-year. Customer growth continued with a 11% year-over-year increase to 1.6 million customers.

Improved Dollar Net Retention

Dollar net retention increased to 100% in Q3, up from 98% in Q4 of fiscal 2024, driven by increases in customer usage and utilization.

Strong Profitability

Non-GAAP operating margins improved to 29.6%, up from 26.8% in Q3 fiscal 2024, showing a commitment to improving efficiency and profitability.

Innovation in IAM Platform

Launched new capabilities and expanded IAM platform availability to more regions, showing strong initial steps towards sustainable long-term growth.

Stock Buybacks and Cash Flow

Repurchased $173 million of stock, maintaining financial stability with $1.1 billion in cash and no debt, alongside $211 million in free cash flow.

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DocuSign (DOCU) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DOCU Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 06, 2025	2025 (Q4)	0.84 / -	0.76	―	―	―
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)
Mar 09, 2023	2023 (Q4)	0.52 / 0.65	0.48	35.42% (+0.17)
Dec 08, 2022	2023 (Q3)	0.42 / 0.57	0.58	-1.72% (-0.01)

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

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DOCU Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 05, 2024	$83.68	$106.99	+27.86%
Sep 05, 2024	$56.93	$59.19	+3.97%
Jun 06, 2024	$54.60	$52.05	-4.67%
Mar 07, 2024	$53.56	$55.97	+4.50%

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.

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