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Docusign (NASDAQ:DOCU) fell 1% on Thursday postmarket after reporting earnings that beat estimates.
For the third quarter, non-GAAP EPS of $0.79 beat the estimate by $0.16 and sales of $700.42M beat by $10.3M.
For the quarter ending in January, the company forecast sales of $696M to $700M compared to the average analyst estimate of $693.7M.
“DocuSign had a solid third quarter, delivering record non-GAAP operating margin and free cash flow,” said CEO Allan Thygesen.
“We are making progress on product innovation, go-to-market effectiveness, and operational efficiency as we build on our considerable scale and trusted market position and expand beyond e-signature into intelligent agreement management.”
Subscription revenue was $682.4M, an increase of 9% year-over-year. Professional services and other revenue was $18.1M, a decrease of 16% year-over-year.
Billings were $691.8M, an increase of 5% year-over-year.