Filing Flows

Filing Flows › Companies › DocuSign › Cash flow

DocuSign cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$296M in Q2 FY27 · $1.2B over twelve months

Operating cash flow$335M
Capital spending−$38.8M
Free cash flow+$296M
Cash / net income4.3×
Cash conversion cycle23 days

Analysis

In Q2 FY27, DocuSign generated $335M of operating cash flow and spent $38.8M on capital projects, leaving free cash flow of $296M. That is $78.1M more than in Q2 FY26 ($218M).

Over the twelve months to Jul 31, 2026, operating cash flow was $1.3B; the largest uses were buybacks ($1.1B), taxes on employees’ shares ($216M), capital spending ($125M); besides operations, cash came from other financing ($41.3M), other investing ($7.9M); the cash balance fell by $70.8M.

Operating cash flow was $335M against net income of $77.7M — 4.3× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$149M, receivables −$71.7M, employee-related liabilities +$63.9M.

Its cash conversion cycle was 23 days (receivables 35 + inventory 0 − payables 12).

Free cash flow

DocuSign: free cash flow by quarterDocuSign: free cash flow by quarter$211MQ3 FY25$280MQ4 FY25$228MQ1 FY26$218MQ2 FY26$263MQ3 FY26$350MQ4 FY26$289MQ1 FY27$296MQ2 FY27
Operating cash flow less capital spending.
DocuSign: operating cash flow against capital spendingDocuSign: operating cash flow against capital spendingOperating cash flowCapital spending$234M$23.6MQ3 FY25$308M$28.3MQ4 FY25$251M$23.6MQ1 FY26$246M$28.4MQ2 FY26$290M$27.4MQ3 FY26$377M$27.0MQ4 FY26$322M$32.3MQ1 FY27$335M$38.8MQ2 FY27
Latest (Q2 FY27): Operating cash flow $335M, Capital spending $38.8M.

Capital allocation, year by year

DocuSign: where the cash came from (up) and went (down), by fiscal yearDocuSign: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY22: Operating cash flow $506MFY22: Net borrowing −$77.9MFY22: Shares issued $23.7MFY22: Capital spending −$61.4MFY22: Acquisitions −$6.4M$530MFY22FY23: Operating cash flow $507MFY23: Net borrowing −$16KFY23: Shares issued $12.7MFY23: Capital spending −$77.7MFY23: Buybacks −$63.0M$519MFY23FY24: Operating cash flow $980MFY24: Net borrowing −$727MFY24: Shares issued $14.0MFY24: Capital spending −$92.4MFY24: Buybacks −$146M$994MFY24FY25: Operating cash flow $1.0BFY25: Shares issued $22.7MFY25: Capital spending −$97.0MFY25: Acquisitions −$144MFY25: Buybacks −$684M$1.0BFY25FY26: Operating cash flow $1.2BFY26: Shares issued $1.2MFY26: Capital spending −$106MFY26: Buybacks −$869M$1.2BFY26
Over these 5 years operating cash flow totalled $4.2B; the largest uses were buybacks ($1.8B) and net borrowing ($805M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$528M
Debtnone
Net cash$528M

DocuSign funds itself: free cash flow was $1.2B over the last twelve months, with $528M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

DocuSign: sources (+) and uses (−) of cash, Q2 FY27DocuSign: sources (+) and uses (−) of cash, Q2 FY27Operating cash flow$335MBuybacks−$307MCapital spending−$38.8MTaxes on employees’ shares−$38.6MOther investing$31.9MCash drawn (+) / kept (−)$20.2MExchange rates−$2.8M
DocuSign: sources (+) and uses (−) of cash, TTM to Q2 FY27DocuSign: sources (+) and uses (−) of cash, TTM to Q2 FY27Operating cash flow$1.3BBuybacks−$1.1BTaxes on employees’ shares−$216MCapital spending−$125MCash drawn (+) / kept (−)$70.8MOther financing$41.3MOther investing$7.9MExchange rates$5.6MShares issued$133K

From profit to cash

DocuSign: net income to operating cash flow, Q2 FY27DocuSign: net income to operating cash flow, Q2 FY27Net income$77.7MDepreciation & amortization$33.8MStock-based pay$149MDeferred taxes$37.8MOther non-cash$2.0MReceivables−$71.7MPayables−$3.7MAccrued liabilities$7.4MEmployee-related liabilities$63.9MDeferred revenue$10.4MPrepaid and other assets$15.0MOperating cash flow$335M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY2735—1223
Q1 FY2744—1133
Q4 FY2648—1137
Q3 FY2640—931
Q2 FY2638—1028
Q1 FY2643—1627
Q4 FY2543—1429
Q3 FY2537—829

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27$335M−$38.8M−$307M—$20.2M$296M
Q1 FY27$322M−$32.3M−$318M$53K$52.5M$289M
Q4 FY26$377M−$27.0M−$269M—−$17.9M$350M
Q3 FY26$290M−$27.4M−$215M$80K$16.0M$263M
Q2 FY26$246M−$28.4M−$202M$471K$56.2M$218M
Q1 FY26$251M−$23.6M−$183M$699K−$12.9M$228M
Q4 FY25$308M−$28.3M−$162M$11.4M−$38.8M$280M
Q3 FY25$234M−$23.6M−$173M$10.3M$7.3M$211M

DocuSign: income statement and cash flow

DocuSign, Q2 FY27: revenue $876M (+9% year over year), operating margin 13.4%. The chart follows the revenue to costs, profit and cash.

DocuSign: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.