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DocuSign (DOCU) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jun 6, 2025
DocuSign (DOCU) reported revenue of $764M for the first quarter fiscal 2026 (Q1 FY26), +8% from a year earlier and -2% from the quarter before. Operating margin was 7.9%, net earnings $72.1M (9.4% of revenue).
DocuSign, Q1 FY26: revenue $764M (+8% year over year), operating margin 7.9%, net earnings $72.1M, operating cash flow $251M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $764M | -2% | +8% |
| Gross profit | $606M | -2% | +8% |
| Operating profit | $60.3M | -0.4% | +166% |
| Net earnings | $72.1M | -14% | +114% |
| Operating cash flow | $251M | -18% | -1% |
| Free cash flow | $228M | -19% | -2% |
What changed
Revenue was $763.7M in Q1 FY26, up 8% year over year and down 2% from the previous quarter. Subscription was the largest line at 98% of revenue. Subscription added $54.7M year over year (up 8%), 101% of the total change. Professional services and other declined 4%.
Gross margin was 79.4%, up 0.5 points from a year earlier. Operating profit was $60.3M, a 7.9% margin (up 4.7 points year over year). Of the extra revenue versus a year earlier, 70% reached operating profit, above the 3% margin then. Operating expenses grew 2% against revenue growth of 8%. The fastest-growing cost line was Research & development (+19%). Net earnings were $72.1M, up 114% year over year. The effective tax rate was 2.3%.
Operating cash flow was $251.4M (down 1% year over year), 349% of net earnings. Non-cash charges added back $30.4M of depreciation and amortization and $145.6M of share-based compensation. Capital expenditures of $23.6M left free cash flow of $227.8M.
Questions
What was DocuSign's revenue in the first quarter fiscal 2026?
DocuSign (DOCU) reported revenue of $764M for the first quarter fiscal 2026 (Q1 FY26), +8% from a year earlier and -2% from the quarter before.
Was DocuSign profitable in the first quarter fiscal 2026?
Operating profit was $60.3M (7.9% of revenue) and net earnings $72.1M.
Source: DocuSign 10-Q on SEC EDGAR.