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DocuSign Announces Third Quarter Fiscal 2022 Financial Results San Francisco - December 2 , 2021 – DocuSign , Inc. ( NASDAQ : DOCU ) , which offers the world's # 1 e - signature solution as part of the DocuSign Agreement Cloud , today announced results for its fiscal quarter ended October 31 , 2021 . I " Third quarter revenue growth of 42 % year - over - year and operating margin of 22 % exceeded our expectations . After six quarters of accelerated growth , we saw customers return to more normalized buying patterns , resulting in 28 % year - over - year billings growth , " said Dan Springer , CEO of DocuSign . " With a $ 50 billion TAM and 1.11 million customers worldwide , we are confident in the value DocuSign delivers in an increasingly digital anywhere economy . " Third Quarter Financial Highlights Total revenue was $ 545.5 million , an increase of 42 % year - over - year . Subscription revenue was $ 528.6 million , an increase of 44 % year - over year . Professional services and other revenue was $ 16.9 million , an increase of 4 % year - over - year . Billings were $ 565.2 million , an increase of 28 % year - over - year . GAAP gross margin was 79 % compared to 74 % in the same period last year . Non - GAAP gross margin was 82 % compared to 79 % in the same period last year . ■ ■ ■ DOCUSIGN , INC . ■ ■ Exhibit 99.1 GAAP net loss per basic and diluted share was $ 0.03 on 198 million shares outstanding compared to $ 0.31 on 186 million shares outstanding in the same period last year . Non - GAAP net income per diluted share was $ 0.58 on 208 million shares outstanding compared to $ 0.22 on 206 million shares outstanding in the same period last year . Net cash provided by operating activities was $ 105.4 million compared to $ 57.4 million in the same period last year . Free cash flow was $ 90.0 million compared to $ 38.1 million in the same period last year . Cash , cash equivalents , restricted cash and investments were $ 908.2 million at the end of the quarter . 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 3. DocuSign recently announced several exciting new product capabilities to help businesses move forward including : DocuSign eSignature enhancements such as Delegated Signing , Recipient Connect , Rooms for Mortgage with Encompass® by ICE Mortgage Technology TM , Dynamic Content for DocuSign Click , SMS Delivery enhancement , Notary enhancements , ID Verification enhancement , and Agreement Actions enhancements to automate post - signature tasks . Other Agreement Cloud enhancements such as collaboration enhancements that give DocuSign CLM users the ability to comment , @ -mention and assign tasks in the CLM UI , and enhancements to DocuSign Gen for Salesforce Billing , which helps to simplify invoice generation and delivery for businesses . Expansion of Salesforce Partnership . On October 27 , 2021 , DocuSign and Salesforce announced an expansion of their global strategic partnership to build new joint solutions that make it easier for customers to accelerate how agreements are facilitated around the world . New innovations will automate the contract process with Al - based , smart solutions that improve the customer experience of preparing , signing , and managing agreements , drive faster ROI , and increase collaboration amongst organizations with Slack functionality . DocuSign Ventures . DocuSign introduced DocuSign Ventures , a new initiative dedicated to nurturing the growing ecosystem of entrepreneurs and startups that are changing the future of how we all will agree . Ventures will focus on co - investing in and partnering with companies raising early - stage funding to innovate around the agreement process . This includes technologies that facilitate pre - agreement work and negotiation , 1