The company reported adjusted earnings of $0.06 per share during the quarter, even as the market was expecting a breakeven.
Billings increased by 31% to $262.4 million.
CEO Dan Springer said, “As we look to fiscal 2020, we are focused on delivering new and innovative solutions to market across the System of Agreement, growing our already-strong partner ecosystem, and continuing our relentless commitment to customer success.”
The company also provided an outlook for the first quarter of 2020, as well as the full financial year. For the current quarter, the company projects total revenue of $205-210 million and billings of $210-220 million. Adjusted gross margin is predicted to be between 78% and 80% during this period.
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For the full year, the company raised its outlook for total revenues to a range of $910-915 million, while billings are estimated to be $1.01-1.03 billion.
DocuSign has seen its stock double since its initial public offering in April last year, primarily due to the adoption of electronic signatures in various industries including banking and insurance. According to Reports Monitor, the e-signature industry is set to grow at a yearly pace of 31% over the coming six years.
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However, of late, the company has been facing stiff competition from Adobe (ADBE), besides Dropbox (DBX), which acquired HelloSign in 2018.