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DOCU’s total revenue for its fiscal third quarter, ended October 31, 2021, increased 42.4% year-over-year to $545.46 million. Its net loss came in at $5.68 million compared to $58.49 million in the year-ago period. Also, its billings were $565.20 million, up 28% year-over-year. However, the stock declined by 42% on Friday, its biggest retreat ever, amid concerns of slowing demand for e-signatures as businesses return to their offices.
The company’s billings and revenue guidance missed expectations. Its $557 million – $563 million fourth-quarter revenue projection was below Wall Street’s expectations. Consequently, several analysts downgraded DOCU’s ratings. In addition, hedge fund’s interest in the stock has declined. So, DOCU’s near-term prospects look uncertain.
