The report sent DocuSign shares down 23% in late trading. CEO Dan Springer remarked, “After six quarters of accelerated growth, we saw customers return to more normalized buying patterns, resulting in 28% year-over-year billings growth.” Added Springer, “With a $50 billion TAM and 1.11 million customers worldwide, we are confident in the value DocuSign delivers in an increasingly digital anywhere economy.” Also: DocuSign CEO Springer: Don’t worry, we’re still growing strong Revenue in the three months ending in July rose 42% year over year to $545 million, yielding a net profit of 58 cents a share, excluding some costs. Analysts had been modeling $533 million and 46 cents per share. DocuSign said that its “billings” in the quarter, which combine deferred revenue that had been invoiced and reported revenue, rose by 28% to $565.2 million. For the current quarter, the company sees revenue of $557 million to $563 million, below consensus for $575 million. For the full year, the company sees revenue in a range of $2.083 billion to $2.089 billion, up from a prior forecast of $2.078 billion to $2.088 billion, and slightly below consensus of $2.088 billion.
