Filing Flows › DocuSign (DOCU) › Q1 FY27 › vs Q4 FY26
DocuSign (DOCU) Q1 FY27 vs Q4 FY26 (quarter over quarter)
DocuSign's revenue fell $6.6M (-0.8%) from $837M in Q4 FY26 to $830M in Q1 FY27. The biggest changes: Subscription and Circulation −$7.8M (-1%); Professional Services and Other +$1.2M (+6%). Gross margin 79.4% against 79.7% (-0.3 pts).
DocuSign, Q1 FY27: revenue $830M (+9% year over year), operating margin 13.4%, net earnings $78.2M, operating cash flow $322M. The chart draws each line against Q4 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q4 FY26 | Change | |
|---|---|---|---|
| Gross margin | 79.4% | 79.7% | -0.3 pts |
| Operating margin | 13.4% | 10.5% | +2.9 pts |
| Net margin | 9.4% | 10.8% | -1.4 pts |
| Free cash flow margin | 34.9% | 41.8% | -7.0 pts |
Every line
| Line | Q1 FY27 | Q4 FY26 | Change | % |
|---|---|---|---|---|
| Subscription and Circulation | $811M | $819M | −$7.8M | -1% |
| Professional Services and Other | $19.0M | $17.9M | $1.2M | +6% |
| Revenue | $830M | $837M | −$6.6M | -0.8% |
| Gross profit | $659M | $667M | −$8.1M | -1% |
| Cost of revenue | $171M | $170M | $1.5M | +0.9% |
| Other income, net | $6.4M | $13.8M | −$7.4M | -53% |
| Operating profit | $111M | $87.7M | $23.6M | +27% |
| Operating expenses | $548M | $579M | −$31.7M | -5% |
| Pre-tax earnings | $118M | $102M | $16.2M | +16% |
| Research & development | $160M | $168M | −$8.7M | -5% |
| Sales & marketing | $296M | $306M | −$9.3M | -3% |
| General & admin | $91.9M | $106M | −$13.7M | -13% |
| Net earnings | $78.2M | $90.3M | −$12.1M | -13% |
| Income tax | $39.6M | $11.2M | $28.3M | +252% |
| Depreciation & amortization | $32.2M | $26.4M | $5.8M | +22% |
| Share-based compensation | $141M | $156M | −$14.2M | -9% |
| Working capital & other | $69.9M | $105M | −$35.0M | -33% |
| Operating cash flow | $322M | $377M | −$55.5M | -15% |
| Free cash flow (OCF − capex) | $289M | $350M | −$60.8M | -17% |
| Capital expenditures | $32.3M | $27.0M | $5.2M | +19% |
Questions
How much did DocuSign's revenue grow quarter over quarter in Q1 FY27?
DocuSign's revenue fell $6.6M (-0.8%) from $837M in Q4 FY26 to $830M in Q1 FY27.
What drove DocuSign's revenue change in Q1 FY27?
Subscription and Circulation −$7.8M (-1%); Professional Services and Other +$1.2M (+6%).