DocuSign Inc (NASDAQ:DOCU) is trading lower after the company reported fourth-quarter financial results and issued guidance below estimates.
DocuSign said fourth-quarter revenue increased 35% year-over-year to $580.8 million, which beat the $561.47 million estimate. The company reported quarterly adjusted earnings of 48 cents per share, which beat the estimate of 47 cents per share.
During fiscal 2022, DocuSign added 280,000 new customers bringing total customers up to 1.17 million.
DocuSign expects first-quarter revenue to be between $579 million and $583 million versus the $594 million estimate. The company expects full fiscal year 2023 revenue to be between $2.47 billion and $2.482 billion versus the $2.61 billion estimate.
DocuSign also authorized a share repurchase program of up to $200 million.
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DOCU Price Action: DocuSign is making new 52-week lows in Thursday's after-hours session.
The stock was down 12.2% at $82.45 at press time.
Photo: courtesy of DocuSign.
