DocuSign (DOCU) financial statements
DocuSign reported revenue of $3.2B in fiscal 2026, up 26.7% a year over 9 years.
Net income was $309M and the operating margin 9.3%, against -30.4% in 2017.
Free cash flow was $1.1B, and the company returned $869M in net buybacks.
The diluted share count rose 646% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from DocuSign's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $381M | $519M | $701M | $974M | $1.5B | $2.1B | $2.5B | $2.8B | $3.0B | $3.2B |
| Cost of revenue | $102M | $118M | $192M | $243M | $364M | $466M | $536M | $573M | $622M | $663M |
| Gross profit | $279M | $400M | $509M | $731M | $1.1B | $1.6B | $2.0B | $2.2B | $2.4B | $2.6B |
| Research and development | $90M | $92M | $186M | $186M | $272M | $393M | $481M | $539M | $588M | $665M |
| Selling, general and admin | $305M | $359M | $749M | $739M | $991M | $1.3B | $1.6B | $1.6B | $1.5B | $1.6B |
| Operating income | -$116M | -$52M | -$426M | -$194M | -$174M | -$62M | -$88M | $32M | $200M | $299M |
| Interest expense | $611,000 | $624,000 | $11M | $29M | $31M | $6M | $6M | $7M | $2M | $3M |
| Pre-tax income | -$115M | -$49M | -$428M | -$204M | -$229M | -$67M | -$90M | $94M | $248M | $347M |
| Income tax | $356,000 | $3M | -$2M | $5M | $14M | $3M | $8M | $20M | -$820M | $38M |
| Net income | -$115M | -$52M | -$426M | -$208M | -$243M | -$70M | -$97M | $74M | $1.1B | $309M |
| EPS (diluted) | -$4.17 | -$1.66 | -$3.16 | -$1.18 | -$1.31 | -$0.36 | -$0.49 | $0.36 | $5.08 | $1.48 |
| Diluted shares | 28M | 32M | 135M | 177M | 186M | 197M | 201M | 209M | 210M | 209M |
| Gross margin | 73.1% | 77.2% | 72.5% | 75.0% | 74.9% | 77.9% | 78.7% | 79.3% | 79.1% | 79.4% |
| Operating margin | -30.4% | -10.0% | -60.8% | -19.9% | -12.0% | -2.9% | -3.5% | 1.1% | 6.7% | 9.3% |
| Net margin | -30.3% | -10.1% | -60.8% | -21.4% | -16.7% | -3.3% | -3.9% | 2.7% | 35.9% | 9.6% |
Balance sheet
Fiscal years, from DocuSign's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $191M | $257M | $769M | $656M | $774M | $803M | $1.0B | $797M | $649M | $602M |
| Receivables | — | $124M | $175M | $238M | $324M | $441M | $517M | $439M | $430M | $516M |
| Total current assets | — | $419M | $985M | $944M | $1.2B | $1.3B | $1.6B | $1.6B | $1.5B | $1.5B |
| Property, plant and equipment | — | $63M | $76M | $128M | $165M | $185M | $200M | $245M | $299M | $362M |
| Goodwill | $36M | $37M | $195M | $195M | $350M | $355M | $354M | $353M | $454M | $458M |
| Total assets | — | $620M | $1.6B | $1.9B | $2.3B | $2.5B | $3.0B | $3.0B | $4.0B | $4.2B |
| Total current liabilities | — | $374M | $516M | $694M | $1.1B | $1.4B | $2.2B | $1.7B | $1.8B | $2.0B |
| Total liabilities | — | $411M | $1.0B | $1.3B | $2.0B | $2.3B | $2.4B | $1.8B | $2.0B | $2.3B |
| Shareholders' equity | -$347M | -$339M | $614M | $546M | $326M | $276M | $617M | $1.1B | $2.0B | $1.9B |
| Net debt | -$191M | -$257M | -$518M | -$241M | -$566M | -$509M | -$722M | -$797M | -$649M | -$602M |
Cash flow
Fiscal years, from DocuSign's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$5M | $55M | $76M | $116M | $297M | $506M | $507M | $980M | $1.0B | $1.2B |
| Capital spending | $43M | $19M | $30M | $72M | $82M | $61M | $78M | $92M | $97M | $106M |
| Free cash flow | -$48M | $36M | $46M | $44M | $215M | $445M | $429M | $887M | $920M | $1.1B |
| Stock-based compensation | $35M | $30M | $411M | $206M | $287M | $409M | $539M | $617M | $610M | $622M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$63M | -$146M | -$684M | -$869M |
| Free cash flow margin | -12.6% | 7.0% | 6.5% | 4.5% | 14.8% | 21.1% | 17.1% | 32.1% | 30.9% | 32.9% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for DOCU.
Open DOCU in InvestinglyQuestions
What was DocuSign's revenue in 2026?
$3.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does DocuSign generate?
$1.1B in fiscal 2026 (operating cash flow minus capital spending).
From DocuSign's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.