We’re in the thick of a big week for software companies, which has shown mixed results. Unfortunately, DocuSign fell on the wrong side of the tape today after reporting earnings.
The company reported Non-GAAP net income of $0.61 per share, which comes out to $121.1 million in net income. The company’s total revenue was $545.5 million, +42% YoY. These figures topped analysts’ bets, which came in at $0.46/share and $531 million in revenue. You wouldn’t think that though, based on how the stock performed…
$DOCU fell over 28% in after hours today. Ouch. That’s almost entirely because the company’s revenue guidance came in under analyst expectations. The company anticipated $557-563 million in revenue during Q4, which is below the $575 million figure that analysts published.
Unfortunately, it’s easy to see why DocuSign’s growth is slowing. The company appreciated enormous growth in 2020, during which the stock more than tripled because of the pandemic. However, with the pandemic coming to a “relative conclusion,” the stock has moved mere inches in 2021. 👎 $DOCU is up just 5% this year.
$DOCU quickly ascended the Stocktwits trending rankings, eclipsing other trending streams for the day. DocuSign has settled into the top 10 — it’s worth popping in to check out the conversation.