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DocuSign Inc. (DOCU+14.11%) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing reports total revenue of $754.8 million for the quarter, an increase from $700.4 million in the same quarter the previous year. Subscription revenue accounted for the majority of this, reaching $734.7 million.
Cost of revenue was $156.5 million, leading to a gross profit of $598.3 million. This represents a slight decrease in gross margin from 80% to 79% compared to the previous year.
Operating expenses totaled $539.3 million, with sales and marketing expenses at $290.6 million, research and development at $151.1 million, and general and administrative expenses at $97.6 million.
The company reported a net income of $62.4 million for the quarter, up from $38.8 million in the previous year. This increase was partially due to a reduction in general and administrative expenses.
Cash provided by operating activities was $234.3 million, while cash used in investing activities was $43.7 million, primarily for acquisitions and property purchases.
DocuSign's cash, cash equivalents, and investments totaled $1.1 billion as of October 31, 2024. The company also has a $500 million credit facility available.
DocuSign continues to focus on expanding its customer base and enhancing its product offerings, including the Intelligent Agreement Management platform, to drive future growth.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DocuSign Inc. quarterly 10-Q report dated December 6, 2024. To report an error, please email earnings@qz.com.