DocuSign, Inc.
- Open
- 53.05
- Day high
- 54.47
- Day low
- 52.16
- Prev close
- 53.38
- Volume
- 3.2M
- Mkt cap
- $10.2B
- P/E (TTM)
- 33.6
- EPS (TTM)
- $1.57
- P/B
- 5.6
- P/S
- 3.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$3.5M over the last 3 months (0 open-market buys, 13 sales)
- 🏛Institutions mixed (13F)
DocuSign, Inc. (DOCU) is a Technology company listed on NASDAQ. The stock is down 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 13 sales (SEC Form 4).
DocuSign, Inc. (DOCU) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 6 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
DOCU earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 4, 2026 | $0.99 | $1.09 | +9.7% | $830M | +0.7% |
| Mar 17, 2026 | $0.95 | $1.01 | +6.7% | $837M | +2.9% |
| Dec 4, 2025 | $0.92 | $1.01 | +10.3% | $818M | +1.5% |
| Sep 4, 2025 | $0.85 | $0.92 | +8.6% | $801M | +2.6% |
| Jun 5, 2025 | $0.81 | $0.90 | +10.8% | $764M | +2.1% |
| Mar 13, 2025 | $0.85 | $0.86 | +1.1% | $776M | +2.0% |
| Dec 5, 2024 | $0.87 | $0.90 | +3.4% | $755M | +1.3% |
| Sep 5, 2024 | $0.81 | $0.97 | +20.2% | $736M | +1.2% |
| Jun 6, 2024 | $0.79 | $0.82 | +3.5% | $710M | +0.4% |
| Mar 7, 2024 | $0.65 | $0.76 | +17.5% | $712M | +2.0% |
| Dec 7, 2023 | $0.61 | $0.79 | +29.5% | $700M | +1.5% |
| Sep 7, 2023 | $0.65 | $0.72 | +10.8% | $688M | +1.5% |
DOCU insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 10, 2026 | Shaughnessy James Pofficer: Chief Legal Officer | Grant | 24,777 | — |
| Jul 10, 2026 | Thygesen Allan C.director, officer: President and CEO | Grant | 182,366 | — |
| Jul 10, 2026 | Chatwani Robertofficer: President General Mgr, Growth | Grant | 37,166 | — |
| Jul 10, 2026 | Chatwani Robertofficer: President General Mgr, Growth | Grant | 74,333 | — |
| Jul 10, 2026 | Hansen Paulaofficer: Chief Revenue Officer | Grant | 44,600 | — |
| Jul 10, 2026 | Thygesen Allan C.director, officer: President and CEO | Grant | 136,774 | — |
| Jul 10, 2026 | Hansen Paulaofficer: Chief Revenue Officer | Grant | 89,200 | — |
| Jul 10, 2026 | Shaughnessy James Pofficer: Chief Legal Officer | Grant | 49,555 | — |
| Jul 10, 2026 | GRAYSON BLAKE JEFFREYofficer: Chief Financial Officer | Grant | 89,200 | — |
| Jul 10, 2026 | GRAYSON BLAKE JEFFREYofficer: Chief Financial Officer | Grant | 44,600 | — |
| Jul 1, 2026 | GRAYSON BLAKE JEFFREYofficer: Chief Financial Officer | Sell | 14,400 | $45.53 |
| Jul 1, 2026 | Thygesen Allan C.director, officer: President and CEO | Sell | 4,257 | $45.58 |
| Jul 1, 2026 | Hansen Paulaofficer: Chief Revenue Officer | Sell | 6,000 | $45.54 |
| Jul 1, 2026 | Shaughnessy James Pofficer: Chief Legal Officer | Sell | 246 | $46.01 |
| Jul 1, 2026 | Thygesen Allan C.director, officer: President and CEO | Sell | 21,993 | $46.11 |
Source: DOCU SEC Form 4 filings, latest Jul 10, 2026. For informational purposes only — not investment advice.
See the full DOCU insider & 13F page →DocuSign, Inc. company profile
Overview
DocuSign, Inc. (NASDAQ:DOCU) is a leading provider of electronic signature and digital agreement management software founded in 2003 and headquartered in San Francisco, California. The company went public in April 2018 and has established itself as a pioneer in digitizing the agreement process for businesses worldwide. DocuSign serves over 1.6 million customers globally, from small businesses to large enterprises, helping organizations transition from paper-based processes to digital workflows for preparing, signing, and managing agreements.
Business
DocuSign operates in the digital agreement management industry, providing cloud-based software solutions that enable businesses to electronically prepare, execute, and manage legal agreements and contracts. The company's core offering is its eSignature platform, which allows users to digitally sign documents from virtually any device, anywhere in the world, eliminating the need for printing, faxing, or physically mailing documents for signatures. The company has evolved beyond simple electronic signatures to offer a comprehensive Intelligent Agreement Management (IAM) platform that encompasses the entire agreement lifecycle. This includes document preparation, negotiation, approval workflows, electronic signing, and post-signature management and analytics. The IAM platform incorporates artificial intelligence capabilities to help organizations analyze contract terms, automate workflows, and extract insights from their agreement data. DocuSign's product portfolio includes several key components. DocuSign eSignature represents the core electronic signature functionality and generates the majority of revenue. Contract Lifecycle Management (CLM) solutions help enterprise customers manage complex contract processes from creation to renewal. The company also offers specialized solutions like Rooms for Real Estate and Rooms for Mortgage that cater to specific industry workflows, as well as compliance-focused offerings like FedRAMP for government agencies. The subscription-based business model generates approximately 95% of total revenue from recurring subscriptions, with the remainder coming from professional services. International markets represent about 28% of total revenue and are growing at roughly double the rate of the overall business, indicating significant global expansion opportunities.
Revenue model
DocuSign operates primarily on a Software-as-a-Service (SaaS) subscription model, where customers pay recurring fees based on the number of users, envelopes (documents sent for signature), or seats depending on the specific product tier. The company offers multiple pricing tiers ranging from individual plans for small businesses to enterprise-level solutions with advanced features and higher usage limits. Revenue generation occurs through three main channels. Direct sales target enterprise and mid-market customers through a dedicated sales force that focuses on larger, more complex deals. Partner-assisted sales leverage relationships with technology partners like Microsoft, Salesforce, and SAP to reach customers through integrated solutions. Web-based self-service sales allow smaller customers to sign up and purchase directly through DocuSign's website, providing a lower-cost acquisition model for smaller accounts. The company's paying customers span across industries and organization sizes, from individual professionals and small businesses to Fortune 500 enterprises. Key customer segments include real estate, financial services, healthcare, legal services, and technology companies. Large enterprise customers paying over $300,000 annually represent a growing and strategically important segment, numbering over 1,100 customers. Several factors influence DocuSign's margins and profitability. Positive factors include the high gross margins typical of SaaS businesses (around 80%), economies of scale as the customer base grows, and the network effects of widespread adoption making DocuSign more valuable to users. The company benefits from high switching costs once organizations integrate DocuSign into their workflows and train employees on the platform. Negative factors include intense competition from both established players like Adobe and emerging competitors, pricing pressure in commoditized segments, and the significant sales and marketing investments required to acquire and retain enterprise customers. Macroeconomic conditions affecting business spending on technology and real estate transaction volumes can also impact growth rates.
Competitive moat
DocuSign possesses a moderate but meaningful competitive moat built primarily on network effects, switching costs, and first-mover advantages in the electronic signature space. The company's strongest defensive position comes from its widespread adoption and integration into business workflows, creating high switching costs for organizations that have trained employees and built processes around DocuSign's platform. The network effects are particularly valuable in the electronic signature business, as the more organizations that use DocuSign, the more likely it becomes that business partners, vendors, and customers will encounter and become familiar with the platform. This familiarity reduces friction in business transactions and creates a preference for DocuSign over alternatives. The company has also built an extensive ecosystem of integrations with popular business software like Salesforce, Microsoft Office, and various CRM and ERP systems, making it more entrenched in customers' technology stacks. However, DocuSign's moat faces several challenges. The core electronic signature functionality has become increasingly commoditized, with competitors like Adobe Sign, HelloSign (now part of Dropbox), and various smaller players offering similar basic capabilities often at lower prices. The barriers to entry for basic e-signature functionality are relatively low, and large technology companies with existing customer relationships could potentially bundle competitive offerings. The company is attempting to strengthen its moat by expanding into comprehensive agreement management through its IAM platform, which addresses more complex business processes beyond simple signature collection. This strategy aims to increase switching costs and create more defensible revenue streams. The recent integration of AI capabilities through the Lexion acquisition represents another effort to differentiate the platform and create additional value that competitors cannot easily replicate. Competition comes from multiple directions, including established software companies like Adobe and Microsoft, specialized contract management vendors, and the constant threat of larger technology platforms deciding to compete more aggressively in this space. The company's long-term competitive position will likely depend on its ability to successfully transition customers from simple e-signature usage to comprehensive agreement management workflows.
Risks & safety
DocuSign demonstrates a strong financial position with solid cash generation and manageable debt levels, though current valuation metrics suggest limited margin of safety at current prices. **Cash and Liquidity Position:** - Cash and short-term investments: $649 million as of Q4 2025 - Strong free cash flow generation: $920 million for fiscal 2025 - Operating cash flow: $1.02 billion for fiscal 2025 - Current ratio of 0.81 indicates some working capital tightness but manageable given strong cash flows **Debt and Solvency:** - Very low debt-to-equity ratio of 0.062, indicating minimal financial leverage - No significant solvency concerns given strong balance sheet and cash generation - Total liabilities of $2.01 billion primarily consist of deferred revenue and operational liabilities rather than debt **Valuation Metrics:** - Price-to-earnings ratio: 18.5x (based on fiscal 2025 results including one-time gains) - EV/EBITDA: 54.1x, indicating high valuation relative to current profitability - Price-to-book ratio: 9.9x, suggesting premium valuation - Revenue trading at approximately 5.1x fiscal 2025 revenue **Other Considerations:** - Recurring subscription revenue model provides predictable cash flows - Dollar net retention rate of 100% indicates stable customer base - International growth opportunities provide potential upside but execution risk remains
Recent development
Over the past few years, DocuSign has undergone a significant strategic transformation from a pure-play electronic signature company to a comprehensive Intelligent Agreement Management (IAM) platform provider. This evolution represents the company's most important strategic pivot as it seeks to expand its addressable market and increase revenue per customer. The centerpiece of this transformation is the IAM platform launch, which began rolling out in fiscal 2025. The platform integrates artificial intelligence capabilities to help organizations manage the entire agreement lifecycle, from initial document creation through negotiation, approval, signature, and ongoing management. Key components include DocuSign Navigator for agreement analysis and insights, Maestro for workflow automation, and an App Center for third-party integrations. To accelerate AI capabilities, DocuSign acquired Lexion in fiscal 2025, bringing advanced natural language processing and contract analysis technology to the platform. This acquisition represents a significant investment in building differentiated AI features that can analyze contract terms, suggest improvements, and automate routine legal workflows. The company has also restructured its go-to-market approach to support the more complex IAM sales process. This includes reorganizing sales teams to focus on consultative selling, expanding partner relationships, and developing more sophisticated self-service capabilities for smaller customers. The sales organization has been retrained to sell broader agreement management solutions rather than just electronic signatures. International expansion has been another key focus, with international revenue growing at approximately double the rate of domestic business. The company has been launching IAM capabilities in international markets and developing more sophisticated partner-first approaches in regions where direct sales presence is limited. Recent quarters have shown encouraging signs of business stabilization, with dollar net retention rates improving from 98% to 100% and stronger performance in large customer acquisition. The IAM platform has shown early traction with customers reporting significant efficiency gains, including some reducing contracting cycles by up to 75%.
DOCU company profile · for informational purposes only — not investment advice.
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