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How DocuSign (DOCU) makes money
DocuSign (DOCU) made $876M of revenue in the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier. Subscription and Circulation brought in $854M (98%); Professional Services and Other brought in $21.8M (2%). Of every dollar of revenue, 80¢ was left as gross profit, 13¢ was left as operating profit, 9¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q2 FY27
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Subscription and Circulation | $854M | 97.5% | +5% | +9% |
| Professional Services and Other | $21.8M | 2.5% | +15% | +34% |
Where each dollar of revenue goes
| Line | Q2 FY27 | % of revenue |
|---|---|---|
| Revenue | $876M | 100.0% |
| Cost of revenue | $178M | 20.3% |
| Gross profit | $698M | 79.7% |
| Operating expenses | $580M | 66.3% |
| Operating profit | $118M | 13.4% |
| Income tax | $47.3M | 5.4% |
| Net earnings | $77.7M | 8.9% |
| Operating cash flow | $335M | 38.2% |
| Free cash flow | $296M | 33.8% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q2 FY27 | $876M | +9% |
| Q1 FY27 | $830M | +9% |
| Q4 FY26 | $837M | +8% |
| Q3 FY26 | $818M | +8% |
| Q2 FY26 | $801M | +9% |
| Q1 FY26 | $764M | +8% |
| Q4 FY25 | $776M | +9% |
From DocuSign's 10-Q filed Sep 4, 2026 (on EDGAR).
Questions
How does DocuSign make money?
DocuSign (DOCU) made $876M of revenue in the second quarter fiscal 2027 (Q2 FY27), +9% from a year earlier. Subscription and Circulation brought in $854M (98%); Professional Services and Other brought in $21.8M (2%). Of every dollar of revenue, 80¢ was left as gross profit, 13¢ was left as operating profit, 9¢ was left as net earnings.
What is DocuSign's biggest business?
Subscription and Circulation: $854M in the second quarter fiscal 2027, 98% of revenue, +9% from a year earlier.
What is DocuSign's profit margin?
Net earnings were $77.7M, 8.9% of revenue, in the second quarter fiscal 2027; the operating margin was 13.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.