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DocuSign Announces First Quarter Fiscal 2022 Financial Results San Francisco - June 3 , 2021 - DocuSign , Inc. ( NASDAQ : DOCU ) , which offers the world's # 1 eSignature solution as part of the DocuSign Agreement Cloud , today announced results for its fiscal quarter ended April 30 , 2021 . ■ " We've increasingly become the way people agree in this emerging anywhere economy - and that's not only helping organizations continue operations during the pandemic , but helping them realize new and more efficient ways of doing business in the future , " said DocuSign CEO Dan Springer . " This fact is reflected by our new and existing customers adopting and expanding at record rates , our 58 % year - over - year Q1 revenue growth , and the recent addition of our millionth customer to the DocuSign platform . " First Quarter Financial Highlights ▪ ▪ ▪ ▪ DOCUSIGN , INC . ■ ■ Exhibit 99.1 Total revenue was $ 469.1 million , an increase of 58 % year - over - year . Subscription revenue was $ 451.9 million , an increase of 61 % year - over year . Professional services and other revenue was $ 17.1 million , an increase of 7 % year - over - year . Billings were $ 527.4 million , an increase of 54 % year - over - year . GAAP gross margin was 78 % compared to 75 % in the same period last year . Non - GAAP gross margin was 81 % compared to 79 % in the same period last year . A reconciliation of GAAP to non - GAAP financial measures has been provided in the tables included in this press release . An explanation of these measures is also included below under the heading " Non - GAAP Financial Measures and Other Key Metrics . " Operational and Other Financial Highlights DocuSign Agreement Cloud 2020 Product Release 1. DocuSign announced several exciting new product capabilities to help customers drive their digital transformations . This includes : New features in DocuSign eSignature including the data visualization tool Signing Insights , improved data verification , eWitness enhancements , and eSignature for Microsoft Teams . GAAP net loss per basic and diluted share was $ 0.04 on 194 million shares outstanding compared to $ 0.26 on 183 million shares outstanding in the same period last year . Non - GAAP net income per diluted share was $ 0.44 on 208 million shares outstanding compared to $ 0.12 on 197 million shares outstanding in the same period last year . Net cash provided by operating activities was $ 135.6 million compared to $ 59.1 million in the same period last year . Free cash flow was $ 123.0 million compared to $ 32.8 million in the same period last year . Cash , cash equivalents , restricted cash and investments were $ 875.8 million at the end of the quarter . ■ New features in DocuSign CLM including the new CLM 360 dashboard for assessing and managing supplier relationships in terms of relevant agreements and amendments , as well as Workday Financial Management and Netsuite Financials Integrations . DocuSign Notary . DocuSign introduced DocuSign Notary , its remote online notarization ( RON ) solution designed to enable organizations to notarize agreements virtually . Available for limited release , Notary is built on the company's flagship eSignature solution and utilizes capabilities developed from the acquisition of Liveoak Technologies last year . It uses secure identity - proofing technologies to reduce the risk of fraud and provides a detailed audit trail , including a tamper - evident Certificate of Completion and recorded sessions . 2021 Gartner Magic Quadrant Leader . For the second year in a row , DocuSign was named a Leader in the 2021 Magic Quadrant for CLM research report by Gartner , Inc. This year , DocuSign was placed highest among the 15 vendors evaluated on the " ability to execute " axis , and highly on the " completeness of vision " axis . 1