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DocuSign (DOCU) Q4 FY25 earnings results (fourth quarter fiscal 2025)
10-K filed Mar 18, 2025
DocuSign (DOCU) reported revenue of $776M for the fourth quarter fiscal 2025 (Q4 FY25), +9% from a year earlier and +3% from the quarter before. Operating margin was 7.8%, net earnings $83.5M (10.8% of revenue).
DocuSign, Q4 FY25: revenue $776M (+9% year over year), operating margin 7.8%, net earnings $83.5M, operating cash flow $308M. The chart follows the revenue to costs, profit and cash.
| Q4 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $776M | +3% | +9% |
| Gross profit | $616M | +3% | +9% |
| Operating profit | $60.5M | +2% | +509% |
| Net earnings | $83.5M | +34% | +206% |
| Operating cash flow | $308M | +31% | +14% |
| Free cash flow | $280M | +33% | +12% |
What changed
Revenue was $776.3M in Q4 FY25, up 9% year over year and up 3% from the previous quarter. Subscription was the largest line at 98% of revenue.
Gross margin was 79.4%, up 0.1 points from a year earlier. Operating profit was $60.5M, a 7.8% margin (up 6.4 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 1% margin then. Operating expenses grew 0% against revenue growth of 9%. Net earnings were $83.5M, up 206% year over year. The effective tax rate was -23.0%.
Operating cash flow was $307.9M (up 14% year over year), 369% of net earnings. Non-cash charges added back $28.7M of depreciation and amortization and $149.9M of share-based compensation. Working capital and other items added $45.8M. Capital expenditures of $28.3M left free cash flow of $279.6M.
Questions
What was DocuSign's revenue in the fourth quarter fiscal 2025?
DocuSign (DOCU) reported revenue of $776M for the fourth quarter fiscal 2025 (Q4 FY25), +9% from a year earlier and +3% from the quarter before.
Was DocuSign profitable in the fourth quarter fiscal 2025?
Operating profit was $60.5M (7.8% of revenue) and net earnings $83.5M.
Source: DocuSign 10-K on SEC EDGAR.