DocuSign, pioneer of the development of e-signature technology, helps to automate agreements. Their portfolio includes solutions, that help signing agreements electronically at any time by means of their Agreement Cloud. This innovative approach eliminates paper-based agreements, which are slow and error-prone and automates the process by connecting it to other systems such as popular business apps, websites and mobile apps.
In March, DocuSign announced to introduce their Agreement Cloud with new remote online notarization solutions. Most notarial transactions need to take place in person. The COVID-19 pandemic highlighted the inefficiency and inconvenience. Therefore, the company designed a new approach that makes it possible to notarize agreements via a secure audio-visual session. As a result, this new solution will add speed, convenience, and cost-efficiency to this business function.
In the fiscal year 2021, DocuSign’s business grew nearly 50%, reaching almost $1.5 billion in revenues. This performance elucidates the ongoing trend towards the digital transformation of agreements. In the fourth quarter the gross margin amounts to 76%, compared to 75% in the same period last year. Additionally, total revenue increased 57% year-over-year to $430.9 million. The company posted subscription revenue of $410.2 million, an increase of 59% year-over-year. DocuSign presented a net loss of $72.4 million in the fourth quarter. Internet companies like DocuSign reported record performance during the pandemic. Contrary to other internet companies, DocuSign will also benefit from the housing boom after the economy reopens. DocuSign’s stock is trading 121% higher within one year.