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DocuSign (DOCU) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Sep 5, 2025
DocuSign (DOCU) reported revenue of $801M for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and +5% from the quarter before. Operating margin was 8.1%, net earnings $63.0M (7.9% of revenue).
DocuSign, Q2 FY26: revenue $801M (+9% year over year), operating margin 8.1%, net earnings $63.0M, operating cash flow $246M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $801M | +5% | +9% |
| Gross profit | $635M | +5% | +9% |
| Operating profit | $65.2M | +8% | +13% |
| Net earnings | $63.0M | -13% | -93% |
| Operating cash flow | $246M | -2% | +12% |
| Free cash flow | $218M | -4% | +10% |
What changed
Revenue was $800.6M in Q2 FY26, up 9% year over year and up 5% from the previous quarter. Subscription was the largest line at 98% of revenue. Subscription added $67.0M year over year (up 9%), 104% of the total change. Professional services and other declined 13%.
Gross margin was 79.3%, up 0.5 points from a year earlier. Operating profit was $65.2M, a 8.1% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 11% reached operating profit, above the 8% margin then. Operating expenses grew 9% against revenue growth of 9%. The fastest-growing cost line was Research & development (+15%). Net earnings were $63.0M, down 93% year over year. The effective tax rate was 17.6%.
Operating cash flow was $246.1M (up 12% year over year), 391% of net earnings. Non-cash charges added back $28.9M of depreciation and amortization and $160.5M of share-based compensation. Capital expenditures of $28.4M left free cash flow of $217.6M.
Questions
What was DocuSign's revenue in the second quarter fiscal 2026?
DocuSign (DOCU) reported revenue of $801M for the second quarter fiscal 2026 (Q2 FY26), +9% from a year earlier and +5% from the quarter before.
Was DocuSign profitable in the second quarter fiscal 2026?
Operating profit was $65.2M (8.1% of revenue) and net earnings $63.0M.
Source: DocuSign 10-Q on SEC EDGAR.