DocuSign Inc. (DOCU) shares plummeted 29.70% in after-hours on Thursday, December 02, 2021, and closed the daily trading at $164.37. However, in the regular trading session, DOCU’s stock gained 1.31%. DOCU shares have risen 7.40% over the last 12 months, and they have moved down 3.96% in the past week. Over the past three months, the stock has lost 20.62%, while over the past six months, it has gained 0.25%.
Let’s see why did it decline in the after-hours session?
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DOCU Latest Development
On December 2, 2021, DocuSign, Inc. (DOCU) announced results for its fiscal quarter that ended October 31, 2021.
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Q3 2022 financial highlights
- DOCU reported total revenue of $545.5 million in Q3 2022 compared to $382.9 million in Q3 2021.
- The total cost of revenue was $115.9 million in Q3 2022 compared to $97.83 million in Q3 2021.
- GAAP gross margin was 79% in Q3 2022compared to 74% in the same period last year.
- Total operating expenses were $432.84 million compared to $333.56 million in Q3 2021.
- It suffered a net loss of $5.67 million in Q3 2022 or a net loss per basic and diluted share of $0.03compared to a net loss of $58.5 million or net loss per basic and diluted share of $0.31 in Q3 2021.
- As of October 31, 2021, the company had cash, cash equivalents, restricted cash, and investments of $908.2 million.
Q4 2022 financial outlook
For Q4 2022, DocuSign is expecting
- Total revenue in the range of $557 million to $563 million.
- Non-GAAP gross margin in the range of 81% to 82%.
FY 2022 financial outlook
For FY 2022, DocuSign is expecting
- Total revenue in the range of $2.083 billion to $2.089 billion.
- Non-GAAP gross margin in the range of 81% to 82%.
DOCU participation in the upcoming conferences
DocuSign Inc. will participate in a fireside chat at UBS Global TMT Virtual Conference on Wednesday, December 8, 2021, at 12:00 p.m. PT / 3:00 p.m. ET.
DOCU will also participate in a fireside chat at 24th Annual Needham Virtual Growth Conference, on Monday, January 10, 2022, at 12:30 p.m. PT / 3:30 p.m. ET.
DOCU partnership with Salesforce
On October 27, 2021, Salesforce (CRM) and DocuSign (DOCU) expanded their global strategic partnership to build new joint solutions that make it easier for customers to accelerate how agreements are facilitated around the world. Innovations will automate the contract process with AI-based, smart solutions that improve the customer experience of preparing, signing, and managing agreements.
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Conclusion
Well, the company announced improved financial results but due to the new Covid variant, its Stock price went down like others in the after-hours session. Let’s see how it performs on the last trading day of the week.