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DocuSign Shares Dive 17% After 1Q Loss Widens, Revised FY23 Guidance


By Denny Jacob

DocuSign Inc. shares dived 17% to $72.88 in after-hours trading Thursday after the company reported a wider loss in the first quarter and lowered some of its previous guidance for fiscal 2023.

The e-signature software maker widened its loss to $27.4 million, or 14 cents a share, for the quarter ended April 30, from a loss of $8.4 million, or 4 cents a share, in the year-ago period. Adjusted earnings were 38 cents a share. Analysts polled by FactSet expected adjusted earnings of 46 cents a share.

Revenue rose to $588.7 million from $469.1 million. Analysts polled by FactSet expected $582.8 million.

The company issued guidance for the second quarter and fiscal 2023, which ends Jan 31. For the second quarter, DocuSign expects between $600 million and $604 million in revenue, between $583 million and $587 million in subscription revenue and between $599 million and $609 million in billings.

For fiscal 2023, the company reiterated its March guidance of between $2.47 billion and $2.48 billion in revenue and between $2.39 billion and $2.41 billion in subscription revenue. It guided between $2.52 billion and $2.54 billion in billings, down from its prior guidance set between $2.71 billion and $2.73 billion.

DocuSign said it expanded its leadership team with hires such as Jennifer Christie as chief people officer and elevating Jerome Levadoux to chief product officer from his prior role as head of eSignature products.

Write to Denny Jacob at denny.jacob@wsj.com



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