Is DocuSign Stock Undervalued?
Digital signature software business DocuSign (NASDAQ:DOCU) has been struggling over…
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Revenue | $54.1M | $39M | $27.8M | $116.1M | $119M | |
| Revenue Growth (YoY) | 153.17% | -27.75% | -28.86% | 317.95% | 2.5% | |
| Cost of Revenues | $52M | $42.2M | $33.3M | $120M | $99.1M | |
| Gross Profit | $2.1M | -$3.1M | -$5.6M | -$4M | $19.9M | |
| Gross Profit Margin | 3.85% | -8.04% | -20.03% | -3.4% | 16.76% | |
| R&D Expenses | $855.4K | $2.2M | $1.6M | $2.8M | $9.4M | |
| Selling, General & Admin | $8.7M | $15.7M | $2M | $1.7M | $1.3M | |
| Other Inc / (Exp) | -$1.1K | -$75.3M | $10.2M | -$902.9K | -$11.4M | |
| Operating Expenses | $11.4M | $17.9M | $34.1M | $44.1M | $43.4M | |
| Operating Income | -$9.4M | -$21M | -$39.6M | -$48M | -$23.5M | |
| Net Interest Expenses | $2.4M | $3M | $448.8K | $15M | $17.7M | |
| EBT. Incl. Unusual Items | -$11.8M | -$103.1M | -$17.2M | -$62.9M | -$105.4M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -$51.4K | $488.2K | $2.7M | -$3.4M | $531.1K | |
| Net Income to Company | -$11.7M | -$103.6M | -$19.9M | -$59.5M | -$106M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | -$11.7M | -$103.6M | -$19.9M | -$59.5M | -$106M | |
| Basic EPS (Cont. Ops) | -$0.24 | -$2.12 | -$0.41 | -$1.22 | -$2.07 | |
| Diluted EPS (Cont. Ops) | -$0.24 | -$2.12 | -$0.41 | -$1.22 | -$2.07 | |
| Weighted Average Basic Share | $48.8M | $48.8M | $48.8M | $48.9M | $51.2M | |
| Weighted Average Diluted Share | $48.8M | $48.8M | $48.8M | $48.9M | $51.2M | |
| EBITDA | -$7.5M | -$16.9M | -$35.1M | -$42.8M | -$16.2M | |
| EBIT | -$9.4M | -$21M | -$39.6M | -$48M | -$23.5M | |
| Revenue (Reported) | $54.1M | $39M | $27.8M | $116.1M | $119M | |
| Operating Income (Reported) | -$9.4M | -$21M | -$39.6M | -$48M | -$23.5M | |
| Operating Income (Adjusted) | -$9.4M | -$21M | -$39.6M | -$48M | -$23.5M | |
| Period Ending | 2021-12-25 | 2022-12-25 | 2023-12-25 | 2024-12-25 | ||
|---|---|---|---|---|---|---|
| Revenue | -- | -- | -- | -- | -- | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | -- | -- | -- | -- | -- | |
| Operating Expenses | -- | -- | -- | -- | -- | |
| Operating Income | -- | -- | -- | -- | -- | |
| Net Interest Expenses | -- | -- | -- | -- | -- | |
| EBT. Incl. Unusual Items | -- | -- | -- | -- | -- | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | -- | -- | -- | |
| Net Income to Company | -- | -- | -- | -- | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | -- | -- | -- | -- | -- | |
| Basic EPS (Cont. Ops) | -- | -- | -- | -- | -- | |
| Diluted EPS (Cont. Ops) | -- | -- | -- | -- | -- | |
| Weighted Average Basic Share | -- | -- | -- | -- | -- | |
| Weighted Average Diluted Share | -- | -- | -- | -- | -- | |
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | -- | -- | -- | -- | -- | |
| Revenue (Reported) | -- | -- | -- | -- | -- | |
| Operating Income (Reported) | -- | -- | -- | -- | -- | |
| Operating Income (Adjusted) | -- | -- | -- | -- | -- | |
| Period Ending | 2021-06-30 | 2022-06-30 | 2023-06-30 | 2024-06-30 | 2025-06-30 | |
|---|---|---|---|---|---|---|
| Revenue | $79.1M | $23.9M | $58.6M | $160.4M | $49.2M | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | $65.7M | $33.3M | $59.4M | $146M | $53M | |
| Gross Profit | $13.4M | -$5.5M | -$826.1K | $14.4M | -$3.8M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | $2.3M | $1.6M | $2.4M | $5.7M | $10M | |
| Selling, General & Admin | $9.4M | $805K | $18.8M | $29.6M | $19.8M | |
| Other Inc / (Exp) | -$57.2K | -$150.2K | $9.4M | -$271.4K | -- | |
| Operating Expenses | $13.4M | $22.6M | $38.7M | $46.5M | $46.9M | |
| Operating Income | -$89.4K | -$32M | -$39.5M | -$32.1M | -$50.7M | |
| Net Interest Expenses | $3.4M | $175.9K | $12.1M | $45.8M | $76.5M | |
| EBT. Incl. Unusual Items | -$3.6M | -$7.8M | -$42.6M | -$77.6M | -$73.7M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -$119.2K | $649.2K | $276.8K | -$384.6K | -$450.4K | |
| Net Income to Company | -$3.4M | -$102.1M | -- | -- | -$73.4M | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | -$3.4M | -$102.1M | -$42.9M | -$77.2M | -$73.3M | |
| Basic EPS (Cont. Ops) | -$0.07 | -$2.09 | -$0.88 | -$1.55 | -$1.39 | |
| Diluted EPS (Cont. Ops) | -$0.07 | -$0.16 | -$0.88 | -$1.55 | -$1.39 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | $3.4M | -$95.4M | -- | -- | -$43.6M | |
| EBIT | -$147.8K | -$99.6M | -$39.5M | -$32.1M | -$50.7M | |
| Revenue (Reported) | $79.1M | $23.9M | $58.6M | $160.4M | $49.2M | |
| Operating Income (Reported) | -$89.4K | -$32M | -$39.5M | -$32.1M | -$50.7M | |
| Operating Income (Adjusted) | -$147.8K | -$99.6M | -$39.5M | -$32.1M | -$50.7M | |
| Period Ending | 2022-12-25 | 2023-12-25 | 2024-12-25 | 2025-12-25 | 2026-12-25 | |
|---|---|---|---|---|---|---|
| Revenue | -- | -- | -- | -- | -- | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | -- | -- | -- | -- | -- | |
| Gross Profit | -- | -- | -- | -- | -- | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | -- | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | -- | -- | -- | -- | -- | |
| Operating Expenses | -- | -- | -- | -- | -- | |
| Operating Income | -- | -- | -- | -- | -- | |
| Net Interest Expenses | -- | -- | -- | -- | -- | |
| EBT. Incl. Unusual Items | -- | -- | -- | -- | -- | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | -- | -- | -- | -- | -- | |
| Net Income to Company | -- | -- | -- | -- | -- | |
| Minority Interest in Earnings | -- | -- | -- | -- | -- | |
| Net Income to Common Excl Extra Items | -- | -- | -- | -- | -- | |
| Basic EPS (Cont. Ops) | -- | -- | -- | -- | -- | |
| Diluted EPS (Cont. Ops) | -- | -- | -- | -- | -- | |
| Weighted Average Basic Share | -- | -- | -- | -- | -- | |
| Weighted Average Diluted Share | -- | -- | -- | -- | -- | |
| EBITDA | -- | -- | -- | -- | -- | |
| EBIT | -- | -- | -- | -- | -- | |
| Revenue (Reported) | -- | -- | -- | -- | -- | |
| Operating Income (Reported) | -- | -- | -- | -- | -- | |
| Operating Income (Adjusted) | -- | -- | -- | -- | -- | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $22.1K | $115.8M | $36.8M | $32.2M | $23.7M | |
| Short Term Investments | -- | -- | -- | -- | -- | |
| Accounts Receivable, Net | $2.6M | $8.4M | $14.8M | $16.9M | $10.2M | |
| Inventory | $26.6M | $14.9M | $56.7M | $43.2M | $65.9M | |
| Prepaid Expenses | -- | -- | -- | -- | -- | |
| Other Current Assets | -- | -$1.1K | -- | $1.1K | -- | |
| Total Current Assets | $31.1M | $144.6M | $112.3M | $98.9M | $119.1M | |
| Property Plant And Equipment | $5.6M | $5.6M | $9.3M | $10.7M | $9.8M | |
| Long-Term Investments | $172.2K | $2.4M | $3.6M | $202.2K | $11.4K | |
| Goodwill | -- | -- | -- | -- | -- | |
| Other Intangibles | $18.9M | $19.3M | $23.7M | $27.7M | $21.4M | |
| Other Long-Term Assets | -- | $2.3K | -- | $1.1K | -- | |
| Total Assets | $55.8M | $172M | $148.8M | $137.4M | $150.4M | |
| Accounts Payable | $15.3M | $15.9M | $16.8M | $24.3M | $36.2M | |
| Accrued Expenses | -- | -- | -- | -- | -- | |
| Current Portion Of Long-Term Debt | -- | -- | -- | $15.4M | $13.9M | |
| Current Portion Of Capital Lease Obligations | $677.7K | $597.8K | $903K | $942.9K | $1.2M | |
| Other Current Liabilities | $1.2K | -- | $1.1K | $1.1K | -$1K | |
| Total Current Liabilities | $28.9M | $34.6M | $45.2M | $66.7M | $64M | |
| Long-Term Debt | -- | $1.7M | $2.8M | $2.9M | $2.4M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $66.3M | $61.8M | $62.6M | $100M | $194.7M | |
| Common Stock | $39.4K | $4.5K | $4.3K | $4.4K | $5.2K | |
| Other Common Equity Adj | -- | -- | -- | -- | -- | |
| Common Equity | -$10.6M | $110.2M | $86.2M | $37.5M | -$44.3M | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | -$10.6M | $110.2M | $86.2M | $37.5M | -$44.3M | |
| Total Liabilities and Equity | $55.8M | $172M | $148.8M | $137.4M | $150.4M | |
| Cash and Short Terms | $22.1K | $115.8M | $36.8M | $32.2M | $23.7M | |
| Total Debt | $435.4K | $2.3M | $3.7M | $3.8M | $3.6M | |
| Period Ending | 2021-06-30 | 2022-06-30 | 2023-06-30 | 2024-06-30 | 2025-06-30 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | -- | $68.7M | $15.2M | $25.4M | -- | |
| Short Term Investments | -- | -- | -- | -- | -- | |
| Accounts Receivable, Net | $2.4M | $18.6M | $29.2M | $34.8M | -- | |
| Inventory | $19.1M | $29.7M | $67M | $41.5M | -- | |
| Prepaid Expenses | -- | -- | -- | -- | -- | |
| Other Current Assets | -- | $1.1K | -- | -- | -- | |
| Total Current Assets | $23M | $118.2M | $111.4M | $101.9M | -- | |
| Property Plant And Equipment | $5.2M | $5.3M | $10.6M | $11.7M | -- | |
| Long-Term Investments | $166.6K | $2.7M | $266.3K | $194K | -- | |
| Goodwill | -- | -- | -- | -- | -- | |
| Other Intangibles | $18.7M | $19.2M | -- | -- | -- | |
| Other Long-Term Assets | -$1.2K | $1.1K | -- | -- | -- | |
| Total Assets | $47.2M | $145.3M | $147.8M | $138.5M | -- | |
| Accounts Payable | $14.9M | $21.3M | $21.5M | $38M | -- | |
| Accrued Expenses | -- | -- | -- | -- | -- | |
| Current Portion Of Long-Term Debt | -- | -- | $11.8M | $15.1M | -- | |
| Current Portion Of Capital Lease Obligations | $642.6K | $577.7K | $930.3K | $1.3M | -- | |
| Other Current Liabilities | -- | -- | -- | -- | -- | |
| Total Current Liabilities | $26M | $30.6M | $61.2M | $69.1M | -- | |
| Long-Term Debt | -- | -- | -- | -- | -- | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $63.5M | $50.4M | $90.8M | $140.5M | -- | |
| Common Stock | $38.1K | $4.2K | $4.4K | -- | -- | |
| Other Common Equity Adj | -- | -- | -- | -- | -- | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -- | -- | -- | -- | |
| Total Equity | -$16.4M | $94.9M | $57M | -$2M | -- | |
| Total Liabilities and Equity | $47.2M | $145.3M | $147.8M | $138.5M | -- | |
| Cash and Short Terms | -- | $68.7M | $15.2M | $25.4M | -- | |
| Total Debt | $5.6M | -- | -- | -- | -- | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$11.7M | -$103.6M | -$19.9M | -$59.5M | -$106M | |
| Depreciation & Amoritzation | $1.9M | $4.1M | $3.8M | $5.2M | $7.2M | |
| Stock-Based Compensation | -- | -- | $2.9M | $1.6M | $4.2M | |
| Change in Accounts Receivable | $930.8K | -$11.7M | -$6.1M | -$1.7M | -$43.3K | |
| Change in Inventories | $15.9M | $10.1M | -$42.2M | $14.6M | -$26.3M | |
| Cash From Operations | -$14.4M | -$24.7M | -$61M | -$22.6M | -$18.9M | |
| Capital Expenditures | $7.6M | $6.6M | $11.6M | $10.7M | $1.5M | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$7.6M | -$6.6M | -$11.6M | -$10.7M | -$1.4M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $11.8M | $31.2M | -- | $13M | $15.1M | |
| Long-Term Debt Repaid | -$518.5K | -$52.3M | -$8.7M | -$1.7M | -$13.2M | |
| Repurchase of Common Stock | -- | $23.6M | -- | -- | -- | |
| Other Financing Activities | -- | -$117.3M | -- | -- | -- | |
| Cash From Financing | $11.3M | $151.9M | -$8.6M | $27.8M | $12.7M | |
| Beginning Cash (CF) | $10.6M | $115.8M | $36.8M | $32.2M | $23.7M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -$10.6M | $120.3M | -$70.8M | -$5.7M | -$6.8M | |
| Ending Cash (CF) | $20.6K | $235.8M | -$23.6M | $26.3M | $17.6M | |
| Levered Free Cash Flow | -$21.9M | -$31.3M | -$72.6M | -$33.3M | -$20.4M | |
| Period Ending | 2021-12-25 | 2022-12-25 | 2023-12-25 | 2024-12-25 | ||
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -- | -- | -- | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -- | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -- | -- | -- | -- | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -- | -- | -- | -- | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | -- | -- | -- | -- | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -- | -- | -- | -- | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -- | -- | -- | -- | |
| Period Ending | 2021-06-30 | 2022-06-30 | 2023-06-30 | 2024-06-30 | 2025-06-30 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$3.4M | -$102.1M | -- | -- | -$73.4M | |
| Depreciation & Amoritzation | $3.6M | $4.2M | -- | -- | $7.1M | |
| Stock-Based Compensation | -- | $1.3M | -- | -- | $3.4M | |
| Change in Accounts Receivable | $791K | -$18M | -- | -- | -- | |
| Change in Inventories | $20M | -$12.7M | -- | -- | -$19.7M | |
| Cash From Operations | -$14.4M | -$50.3M | -- | -- | -$48.4M | |
| Capital Expenditures | $6.4M | $3.6M | $7.6M | $778.2K | $1.9M | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -$6.4M | -$7.8M | -- | -- | -$1.7M | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $10.9M | $23.6M | $12.9M | $245.5K | -- | |
| Long-Term Debt Repaid | -$725.3K | -$58.5M | -$922.1K | -$6.9M | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | $10.2M | $129.3M | -- | -- | $65.5M | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -$10.6M | $71M | -- | -- | $15.5M | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -$20.8M | -$58M | -- | -- | -$50.3M | |
| Period Ending | 2022-12-25 | 2023-12-25 | 2024-12-25 | 2025-12-25 | 2026-12-25 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -- | -- | -- | -- | -- | |
| Depreciation & Amoritzation | -- | -- | -- | -- | -- | |
| Stock-Based Compensation | -- | -- | -- | -- | -- | |
| Change in Accounts Receivable | -- | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | -- | -- | -- | -- | -- | |
| Capital Expenditures | -- | -- | -- | -- | -- | |
| Cash Acquisitions | -- | -- | -- | -- | -- | |
| Cash From Investing | -- | -- | -- | -- | -- | |
| Dividends Paid (Ex Special Dividend) | -- | -- | -- | -- | -- | |
| Special Dividend Paid | -- | -- | -- | -- | -- | |
| Long-Term Debt Issued | -- | -- | -- | -- | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -- | -- | -- | |
| Cash From Financing | -- | -- | -- | -- | -- | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -- | -- | -- | -- | -- | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | -- | -- | -- | -- | -- | |
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