DOCUNasdaqServices-Prepackaged SoftwareUS GAAP · USD

DocuSign, Inc

Docusign builds software that digitizes how agreements are created, signed, managed, and analyzed. Its core products are the eSignature service, the Intelligent Agreement Management (IAM) platform, and contract lifecycle management (CLM), sold mainly by subscription to organizations of all sizes.

Kysy yhtiöstä
Liikevaihto3 220milj. USD
+8,2 %v/v
Liikevoitto (EBIT)299milj. USD
+49,3 %v/v
EBIT-marginaali9,3%
+2,6 %-yks.v/v
Nettotulos309milj. USD
−71,1 %v/v
Vapaa kassavirta1 059milj. USD
+15,0 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−1 00001 0002 0003 0004 000milj. USD2021: 1 453 milj. USD2021: EBIT −174 milj. USD20212022: 2 107 milj. USD2022: EBIT −62 milj. USD20222023: 2 516 milj. USD2023: EBIT −88 milj. USD20232024: 2 762 milj. USD2024: EBIT 32 milj. USD20242025: 2 977 milj. USD2025: EBIT 200 milj. USD20252026: 3 220 milj. USD2026: EBIT 299 milj. USD20263 220299
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Subscription software97 %

Core recurring software access, including eSignature and IAM subscriptions sold to businesses.

Professional services2 %

Deployment, integration, and customer success services that help customers adopt the platform.

Other revenue1 %

Primarily on-premises solutions and other non-subscription revenue streams.

Tuotteet

Raportoitu · osuus liikevaihdosta
97,9%FY2026100 %
  • Subscription and Circulation97,9 %
  • Professional Services and Other2,1 %

Lähde: 10-K FY2026, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Docusign sells to a broad base ranging from very small businesses to global enterprises, government institutions, and individual end users. The company says it has nearly 1.7 million customers and more than a billion users worldwide, with no single customer representing more than 10% of revenue. Larger commercial and enterprise customers tend to have longer sales cycles and higher expansion potential, while smaller customers often adopt through self-service channels.

Very small businesses (VSBs)

Buy simple eSignature subscriptions through digital/self-serve channels because they need quick, low-friction document signing.

Commercial customers

Buy subscription software for everyday agreement workflows and often expand usage over time as needs grow.

Enterprise customers

Buy IAM, eSignature, and CLM to standardize contract processes across departments and geographies.

Government and public institutions

Use secure digital agreement tools for approvals, signatures, and workflow control.

Partners and embedded users

Access Docusign through more than 1,000 integrations inside existing business applications.

Strategia

Docusign is shifting from a single-product eSignature business toward a broader agreement-management platform built around IAM and CLM. It is also changing go-to-market by combining direct sales, partner-assisted sales, and digital self-service to reach more customer types and geographies. The strategy is designed to deepen customer usage, expand internationally, and reduce dependence on standalone eSignature over time.

Expand IAM platform adoptionKeskipitkä aikaväli

Broadens the product set beyond eSignature and increases wallet share per customer.

Accelerate product innovation with AIKeskipitkä aikaväli

Helps automate agreement workflows and differentiate the platform from point solutions.

Diversify go-to-market channelsLyhyt aikaväli

Reduces reliance on direct sales and improves reach across customer sizes.

Expand internationallyKeskipitkä aikaväli

International markets provide additional growth runway beyond the U.S. base.

Maantiede

Q2/2026

Docusign serves customers worldwide and says it has increased demand across multiple regions, with a particular focus on international expansion. The company is migrating North American and European production services from its own data centers to Microsoft Azure, which matters for scale, security, and availability. Geography is important because growth depends on expanding outside the U.S. while maintaining reliable cloud infrastructure across regions.

USA69 %
Other countries (US filing)31 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Docusign remains heavily dependent on eSignature, so slower adoption or competitive displacement there would pressure results unless IAM and other products scale faster. The business also faces cybersecurity, cloud uptime, and AI-related risks because customers rely on the platform for sensitive agreement workflows. Broader software-sector risks such as IT spending weakness, regulatory change, and execution risk in a highly competitive market also matter.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Dependence on eSignature revenue1Cybersecurity and data privacy incidents2Service interruption or cloud infrastructure failure3Competitive pressure in agreement software4Macro and IT spending weakness5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Dependence on eSignature revenueVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Most subscription revenue still comes from eSignature, so slower adoption would hurt growth and operating leverage.

    Kohdistuu: Standalone eSignature remains the majority of revenue

  2. Cybersecurity and data privacy incidentsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The platform handles sensitive agreements and customer data, so breaches could trigger churn, remediation costs, and legal exposure.

    KohdistuuCustomer trustBrand reputationRegulatory scrutiny
  3. Service interruption or cloud infrastructure failureVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Customers depend on availability for mission-critical workflows, and outages could impair usage and renewals.

    Kohdistuu: Technical infrastructure and third-party cloud providers

  4. Competitive pressure in agreement softwareVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    New or better products from competitors could reduce market share or slow IAM adoption.

    KohdistuuESignatureCLMWorkflow automation
  5. Macro and IT spending weaknessVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Enterprise software budgets can tighten in weaker economic conditions, slowing new sales and expansions.

    Kohdistuu: Commercial and enterprise customer demand

Kirjanpito

Harkinnanvaraiset erät
Subscription revenue recognition

Annual prebilling means cash collection and revenue recognition occur at different times, affecting deferred revenue and quarterly comparability.

Vaikutus: Main driver of reported revenue timing

Professional services and other revenue

This revenue is smaller and more variable, so project timing can move quarterly results.

Vaikutus: Quarterly mix and margin variability

Deferred contract acquisition costs

Sales commissions and related costs are capitalized and amortized, affecting expense timing and margins.

Vaikutus: Operating expense recognition

Stock-based compensation

A large non-cash expense that affects operating income and can distort comparisons across periods.

Vaikutus: Reported profitability and diluted share count

Business combinations and acquired intangibles

Valuation assumptions affect amortization and potential impairment charges.

Vaikutus: Future earnings and balance sheet carrying values

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Päivitetty: 24.9.2026