DocuSign stock tanks after company's wider Q1 loss

Shares of DocuSign Inc. fell more than 15% in the extended session Thursday after the company reported a slightly wider than expected per-share GAAP loss in the fiscal 2020 first quarter but posted adjusted profit and sales that beat expectations. DocuSign said it lost $46 million, or 27 cents a share, in the quarter, compared with a loss of $271 million, or $7.46 a share, in the year-ago period. Adjusted for one-time items, DocuSign earned 7 cents a share, compared with a penny a share a year ago. Revenue rose 37% to $214 million, including subscription revenue of $202 million, DocuSign said. Billings rose 27% to $215 million. Analysts polled by FactSet had expected DocuSign to post a GAAP loss of 24 cents a share in the quarter, and an adjusted profit of 5 cents a share on sales of $208 million. The company guided for 2020 revenue between $917 million and $922 million, and revenue between $218 million and $222 million in the second quarter. The analysts surveyed by FactSet expect revenue of $220 million in the second quarter and $914 million for the year.

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