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DOCU

DocuSign, Inc.

DOCU

DocuSign, Inc. • NASDAQ
$69.35 ▲ 0.70% (+0.48)
Market Cap $13.95 B
52w High $107.86
52w Low $63.50
Dividend Yield 0%
P/E 52.54
Volume 940.06K
Outstanding Shares 201.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $800.636M ▲ $569.946M ▲ $62.97M ▼ 7.865% ▼ $0.31 ▼ $174.822M ▲
Q1-2026 $763.654M ▼ $546.13M ▼ $72.087M ▼ 9.44% ▼ $0.35 ▼ $104.637M ▲
Q4-2025 $776.252M ▲ $555.572M ▲ $83.491M ▲ 10.756% ▲ $0.41 ▲ $96.994M ▼
Q3-2025 $754.82M ▲ $539.253M ▲ $62.423M ▼ 8.27% ▼ $0.31 ▼ $99.605M ▲
Q2-2025 $736.027M $522.761M $888.211M 120.676% $4.34 $99.453M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $844.455M ▼ $3.95B ▲ $1.962B ▲ $1.988B ▼
Q1-2026 $948.692M ▼ $3.947B ▼ $1.933B ▼ $2.015B ▲
Q4-2025 $963.547M ▲ $4.013B ▲ $2.01B ▲ $2.003B ▲
Q3-2025 $942.376M ▲ $3.77B ▲ $1.781B ▼ $1.989B ▲
Q2-2025 $938.353M $3.754B $1.793B $1.961B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $62.97M ▼ $246.073M ▼ $-30.452M ▼ $-273.34M ▼ $-56.19M ▼ $217.648M ▼
Q1-2026 $72.087M ▼ $251.439M ▼ $-24.925M ▲ $-223.515M ▲ $12.922M ▼ $227.815M ▼
Q4-2025 $83.491M ▲ $307.912M ▲ $-32.291M ▲ $-231.514M ▼ $38.796M ▲ $279.57M ▲
Q3-2025 $62.423M ▼ $234.326M ▲ $-43.698M ▲ $-198.335M ▲ $-7.269M ▲ $210.713M ▲
Q2-2025 $888.211M $220.208M $-176.11M $-239.068M $-194.732M $197.928M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Professional Services And Other
Professional Services And Other
 $20.00M ▲$20.00M ▲$20.00M ▲$20.00M ▲
Subscription and Circulation
Subscription and Circulation
 $730.00M ▲$760.00M ▲$750.00M ▼$780.00M ▲

Five-Year Company Overview

Income Statement

Income Statement DocuSign has shifted from a period of losses to consistent profitability, driven by strong growth in subscription revenue and much better cost control. Gross profitability remains high, showing the core software business is still very attractive once built. Operating profit has moved from slightly negative a few years ago to clearly positive, which signals better discipline on spending, especially in sales, marketing, and overhead. The most recent year’s jump in net income looks unusually large compared with prior years and far above the improvement in operating profit, suggesting one‑time or non‑operational items are likely boosting the headline earnings. Overall, the trend is: growth has normalized from the early surge years, but margins are improving as the company matures, scales, and spends more efficiently.

Balance Sheet

Balance Sheet The balance sheet has strengthened noticeably. Total assets have grown, and shareholder equity has expanded steadily from a low base, which is what you want to see as a software company moves out of its heavy investment phase. Debt levels have come down significantly from earlier years, reducing financial risk. Cash on hand is healthy and fairly stable, even as the company grows, which indicates it is not relying on borrowing just to fund operations. In plain terms, DocuSign now looks more like a self‑sustaining, well‑capitalized software business than an early‑stage, cash‑burning growth story.

Cash Flow

Cash Flow Cash generation is a clear strong point. Operating cash flow has been solid and consistently positive for several years, and it has grown meaningfully as the business has scaled. This means customers are paying reliably and the model converts revenue into cash efficiently. Free cash flow is also firmly positive year after year, even after funding regular investments in infrastructure and product. Capital spending remains modest relative to the size of the business, which is typical for a cloud software company and leaves plenty of room for flexibility. In practical terms, DocuSign is funding its growth from its own cash flows, which lowers reliance on outside capital and supports ongoing product development and strategic initiatives.

Competitive Edge

Competitive Edge DocuSign is still the reference name in e‑signatures, with a brand so strong that people use it as a verb. That brand recognition, combined with deep integrations into tools like Salesforce, Microsoft, and Google, makes it a default choice for many organizations and embeds it into everyday workflows. Its large installed base, especially in enterprises, creates switching costs: once workflows, templates, and approvals are wired through DocuSign, replacing it is disruptive and risky. This stickiness supports renewal rates and upselling into new products. The main competitive risks come from big, well‑funded rivals like Adobe and from lower‑cost, simpler alternatives. E‑signatures themselves are increasingly commoditized, so DocuSign’s ability to move beyond just signing—into full agreement lifecycle management and analytics—is critical to keeping its edge and pricing power.

Innovation and R&D

Innovation and R&D Innovation is a central part of DocuSign’s strategy. The company is deliberately shifting from a single e‑signature tool to a broader Intelligent Agreement Management platform that covers creation, negotiation, signing, storage, and ongoing analysis of agreements. Its AI efforts, including DocuSign Iris, Navigator, and Maestro, aim to turn static contracts into searchable, actionable data and to automate workflows without requiring coding. This moves DocuSign from being a “last step” in a process to becoming an intelligence layer across the whole agreement lifecycle. The wide ecosystem of integrations and a developer‑friendly platform further reinforce this, making DocuSign not just a product but an underlying infrastructure component. The opportunity is large, but execution risk is real: the company must keep its AI capabilities competitive, deliver on its roadmap, and convince customers to adopt these higher‑value features rather than treating e‑signature as a cheap commodity.

Summary

DocuSign today looks like a more mature cloud software company: still growing, now sustainably profitable, and solidly cash‑generative. Profitability and cash flow trends are moving in the right direction, and the balance sheet has been de‑risked with lower debt and rising equity. Strategically, the key story is the transition from a single‑purpose e‑signature offering into a broad, AI‑driven agreement management platform. Its strong brand, large enterprise footprint, and deep integrations give it a meaningful competitive edge, but also raise the bar: to justify that position, it must keep innovating and demonstrate that these new products deliver real, measurable value. Overall, the company appears to be exiting its early growth‑at‑all‑costs phase and entering a phase focused on efficient growth, platform expansion, and monetizing its central role in the digital agreement ecosystem, with the main uncertainties around competitive intensity and the pace of adoption of its newer, AI‑centric capabilities.

NEWS

November 14, 2025 · 11:30 AM UTC

Docusign Named a Leader in the 2025 Gartner® Magic Quadrant™ for Contract Life Cycle Management for the Sixth Consecutive Year

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November 13, 2025 · 6:03 PM UTC

Docusign Announces Timing of Third Quarter Fiscal 2026 Earnings Conference Call

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November 13, 2025 · 12:00 PM UTC

Docusign Launches Free Templates to Jump-Start Contracts

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November 5, 2025 · 7:00 AM UTC

Docusign Recognized as a 2025 Inc. Power Partner Award Winner

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October 30, 2025 · 11:00 AM UTC

Docusign Brings its Leading Contract AI to ChatGPT

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