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DOCUSIGN INC
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(NYSE: DOCU), which produced a system for remote digital signatures, publishes its results for the second quarter of 2022. The company whose product demand during the Corona period was at its peak, has already lost over 60% since the beginning of the year, people returned to the offices and the demand for the product decreased, on the other hand the market Responds positively to the company’s reports, and probably recognizes the growth potential.
The company’s revenues in the second quarter exceeded by 22% the analysts’ forecasts which amounted to 622.2 million dollars, compared to analysts’ forecasts of 602 million dollars. The company’s gross profit in the second quarter amounted to approximately 513 million dollars, where the gross profit constitutes a rate of 82.5% of the revenues, this compared to analysts’ expectations for a gross profit of approximately 484 million dollars and a gross profit rate of 80.3%. The number of subscribers of the company also jumped and amounted in the second quarter to 605 million subscribers, compared to a forecast of 584 million subscribers.
The operating profit of the digital underwriting company in the second quarter amounted to about 112 million dollars (operating profit rate of 21.9%), this compared to analysts’ expectations for an operating profit of about 101 million dollars (profit rate of 16.8%). In the bottom line, the company concluded a profit of 44 cents per share, above the expectations of the analysts who predicted a profit per share of 42 cents.
Dokusian stated that its revenues in the next quarter are expected to be the same as the analysts’ expectations, who estimate that the company’s revenues will amount to approximately 626 million dollars, as the company confirmed. The company estimates that the gross profit in the third quarter will amount to 501 million dollars, lower than the expectations of the analysts who expect a gross profit of 503 million dollars. The operating profit forecast given by the company for the third quarter amounted to 106 million dollars, the same as the analysts’ forecasts.
Forecast for the entire year 2022
Docosine also updated its forecasts for the entire year, with the company predicting that revenues in 2022 will amount to approximately $2.746 billion, higher than analysts’ expectations who estimate that revenues for the entire year will amount to approximately $2.474 billion. Also, the company expects a lower gross profit than the analysts’ estimates, which will amount to $1.981 billion in the company’s estimation, compared to an expectation of about $1.991 billion in gross profit.
The market liked the report of the digital underwriting company, and boosted the company’s stock in late trading by about 17%. It seems that the market was pleasantly surprised by the latest reporting period. Companies that worked properly and were managed correctly, did not miss the analysts’ estimates and even beat them. The market did not crush the stocks that missed by a little as usually happens, this is because the macroeconomic situation was sensitive.
It seems that this time the investors believe in the company’s potential, in the three previous reports published by the company, immediately after the publication of the reports the company’s stock was cut between 20%-40%, this time for a change, the stock jumps by more than 20% after the publication of the report, it seems Because the company is recovering after the exit from the Corona crisis returned the company’s stock to sane prices, at its peak the company’s stock hovered around $300 per share.
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