DocuSign Shares Drop 20 percent Following Q1 Results Announcement


DocuSign, Inc. (NASDAQ:DOCU) shares were trading more than 20% lower Friday morning following the company’s reported Q1 results. While the results came in better-than-expected and revenue guidance was in-line, disappointing Q2 and 2023 billings guidance highlighted ongoing challenges with respect to resetting post-pandemic consumption patterns and sales churn/execution, which are now being complicated by growing macro headwinds.
Q1 revenue came in at $588.7 million, compared to the Street estimate of $581.71 million. The company expects Q2/23 revenue to be in the range of $600-604 million, compared to the Street estimate of $601.7 million. For the full 2023-year, the revenue is expected to be in the range of $2.47-2.48 billion, compared to the Street estimate of $2.48 billion.


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