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Why DocuSign Stock Crashed Today

TheMotleyFool

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Shares of DocuSign (NASDAQ: DOCU) plunged nearly 25% on Friday after the electronic-signature leader's profits fell well short of investors' expectations.

DocuSign's revenue jumped 25% year over year to $588.7 million in its fiscal 2023 first quarter, which ended on April 30. The company added almost 67,000 new customers, bringing its client base to more than 1.2 million at the end of the period.

However, DocuSign's billings, a key indicator of future sales growth, increased by only 16%. That was a marked deceleration from the 25% growth it experienced in the fourth quarter of fiscal 2022 and the 54% increase it enjoyed in the prior-year quarter.

Source Fool.com

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