Top 10 Earnings

Market cap

$12.50B

EPS actual / est.

$1.16 / $1.09

Revenue actual

$875.75M

Revenue est.

$867.22M

DocuSign delivered a clean beat in fiscal Q2 2027, with non-GAAP EPS of $1.16 versus $1.09 expected (+6.4%) and revenue of $875.7M versus $867.2M expected (+1.0%), up 9% year-over-year (including ~1.3pts of FX tailwind); the stock's muted 0.89% reaction suggests the beat was largely priced in or offset by margin optics. The standout driver was IAM adoption, which jumped to 15.1% of total ARR from 12.6% just one quarter prior, alongside a wave of agentic AI launches (Iris-powered assistant, Agent Studio, MCP server integrations with Slack, Perplexity, Gemini) signaling the platform transition is gaining real commercial traction rather than just being roadmap talk. Profitability was mixed: GAAP gross margin expanded to 79.7% from 79.3%, but non-GAAP gross margin compressed slightly to 81.7% from 82.0%, likely reflecting AI infrastructure investment costs. Cash generation remained the strongest story—free cash flow of $295.8M (34% margin) versus $217.6M (27% margin) a year ago—while the company aggressively returned capital via $306.5M in buybacks, up from $201.5M. Management raised full-year guidance across revenue ($3,499-3,507M, 9% YoY), ARR growth (8.5-9.0%), and importantly increased the IAM ARR mix target to 18-19%