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Digital signature player DocuSign (Nasdaq: DOCU) recently announced its first-quarter results that surpassed market expectations. Earlier this year, DocuSign announced plans to accelerate its product release and focus on profitability. The recent quarterly results revealed a profitable quarter.
 

DocuSign’s Financials

Revenues for the quarter grew 12% to $661.4 million, ahead of the market’s estimates by 3.16%. Billing grew 10% to $547.8 million. On an adjusted basis, net income was $0.72 per share, compared with the market’s expectations of $0.53 per share.

By segment, Subscription revenues grew 12% to $639.3 million. Professional services and other revenue grew 14% to $22.1 million.

For the quarter, DocuSign forecast revenues of $675-$679 million, compared with the Street’s forecast of $664.48 million and an EPS of $0.58. DocuSign expects to end the year with revenues of $2.713-$2.725 billion, in line with the market’s forecast of $2.7 billion, and an EPS of $2.34.
 

DocuSign’s Product Upgrades Focus on Healthcare

DocuSign also announced the release of several new solutions and integrations. It launched Webforms, an interactive solution that enables organizations to capture data and generate dynamic agreements for signature, allowing teams to create and manage their own forms through conditional logic and customizable features. The forms allow the collected data to be exported, analyzed, and seamlessly integrated with other systems.

DocuSign is also focusing on the Healthcare vertical and recently announced an integration between DocuSign eSignature and certified EHRs, like Epic and Cerner, through Infor Cloverleaf. The integration enables a modern experience for patients and staff, where patient forms collected through eSignature are automatically uploaded to the patient record in the EHR, eliminating manual sending, routing, and uploading of completed forms.

To keep up with the Generative AI technology, DocuSign released AI-enabled remote identity verification, delivering EU Qualified Electronic Signature (QES)-compliant identification directly within eSignature. By combining verification of an ID with confirmation of the presence of the person on the ID, the new service fully replaces face-to-face verifications and a handwritten signature under EU law.

Its stock is trading at $50.85 with a market capitalization of $10.3 billion. It hit a 52-week low of $39.57 in October last year and a 52-week high of $77.24 in August last year.

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