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DocuSign (DOCU) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Sep 4, 2026
DocuSign (DOCU) reported revenue of $876M for the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier and +5% from the quarter before. Operating margin was 13.4%, net earnings $77.7M (8.9% of revenue).
DocuSign, Q2 FY27: revenue $876M (+9% year over year), operating margin 13.4%, net earnings $77.7M, operating cash flow $335M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $876M | +5% | +9% |
| Gross profit | $698M | +6% | +10% |
| Operating profit | $118M | +6% | +80% |
| Net earnings | $77.7M | -0.6% | +23% |
| Operating cash flow | $335M | +4% | +36% |
| Free cash flow | $296M | — | +36% |
What changed
Revenue was $875.7M in Q2 FY27, up 9% year over year and up 5% from the previous quarter. Subscription and Circulation was the largest line at 98% of revenue. Subscription and Circulation added $69.6M year over year (up 9%), 93% of the total change.
Gross margin was 79.7%, up 0.4 points from Q2 FY26. Operating profit was $117.6M, a 13.4% margin (up 5.3 points year over year). Of the extra revenue versus Q2 FY26, 70% reached operating profit, above the 8% margin then. Operating expenses grew 2% against revenue growth of 9%. Net earnings were $77.7M, up 23% year over year. The effective tax rate was 37.8%.
Operating cash flow was $334.5M (up 36% year over year), 430% of net earnings. Non-cash charges added back $33.8M of depreciation and amortization and $148.6M of share-based compensation. Working capital and other items added $74.4M. After purchases of property and equipment ($38.8M), free cash flow as the company reports it was $295.8M.
Questions
What was DocuSign's revenue in the second quarter fiscal 2027?
DocuSign (DOCU) reported revenue of $876M for the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier and +5% from the quarter before.
Was DocuSign profitable in the second quarter fiscal 2027?
Operating profit was $118M (13.4% of revenue) and net earnings $77.7M.
Source: DocuSign 10-Q on SEC EDGAR.