Things are not looking good at Docusign Inc (NASDAQ:DOCU) camp. The company’s stock is losing ground terribly, and only significantly important news would come at its rescue. Now, about that, the company has recently announced the availability of its Winter ’19 Release. The release reportedly showcases innovation genius in multiple aspects.
The Winter ’19 Release
According to the release, Docusign Winter ’19 Release comes with updates to the company’s existing eSignature Solution and the general System of Agreement Platform. Among the notable provisions of the Release is the SpringCM Contract Management, Updated release of Docusign for salesforce, improvements to the company’s 21 CFR Part 11 Module, together with accessibility updates for sending and signing.
As the company’s Chief Product Officer, Ron Hirson explains,
“The Winter ’19 Release follows a year of innovation momentum from DocuSign, anchored around the System of Agreement strategy we announced in June, the SpringCM acquisition we completed in August, and our constant drive to ensure the most comprehensive experience for our 454,000 customers and hundreds of millions of users around the world.”
Notably in the Release’s provisions is the SpringCM Contract Management. Ducusign has incorporated this in its release following SpringCM acquisition last year. SpringCM Contract Management comes in to expedite and simplifyall stages of the agreement process.
Digitization of the agreement process is in by and largetime-saving, cost-effective and less risky compared to manual processes. With Docusign’s contract management, users can generate agreements electronically from external systems and centralize negotiations with redlining. Docusigns also provides agreements custody services.
By updating its core offerings, the company stands to attract positive energy to its stock that has been sagging in consecutive trading sessions lately. During the Monday, Dec 24 trading period, the stock closed at $37.48 down 1.34 % from its opening stock of $37.29. The stock once traded at a high of $37.96 and a $36.25 low before settling at the mentioned closing price. The company scored a market capitalization of $6.19 billion during the session.
Docusign’s third-quarter revenue grossed $178.4 million equivalent to a 37%year over year surge. However, the company’s losses ballooned to $52.8 million from 2017’s $14.5. Besides, the DocuSign customer base grew to 454,000 during the third quarter following a new signing of 25,000 new customers. The company also posted a year over year increase of 38% in subscription revenue with professional services revenue rising 17% year over year to approximately $9 million.
Following the impressive quarterly revenue, the company raised its annual revenue guidance to $693 million and $695 million from the previous $683 million and 4688 million. The management also forecasted $192 million and $194 million for the fourth quarter.
Docusign Founder buys Multimillion Island Home
Meanwhile, the company’s founder is reportedly having the time of his life- purchasing a $13 million piece of real estate in Mercer Island. Tom Gonser is already spending his portion of the $629 million raised earlier this year in IPO. Gonser who is expected to step down from the company’s board by the end of the year has previously disposed vast chunks of his ownership in the company first in 2015 and later in 2016 for $9.8 million and $3.3 million respectively. He currently owns 1.4% of the company based on current stock valuation.