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 | $10.2M | $27.1M | -$2.5M | $21.1M | -$4.9M | |
| Revenue Growth (YoY) | -44.79% | 164.48% | -109.17% | 949.63% | -123.08% | |
| Cost of Revenues | $3M | $9.2M | $7.2M | $7.6M | $5.3M | |
| Gross Profit | $7.3M | $17.9M | -$9.7M | $13.5M | -$10.1M | |
| Gross Profit Margin | 71.01% | 66.11% | -- | 64.13% | -- | |
| R&D Expenses | -- | $1.2M | $4.7M | $7.1K | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | $1.2M | $1.9M | $395K | $1.7M | $25.7M | |
| Operating Expenses | $9.7M | $17.1M | $20M | $16.9M | $16.6M | |
| Operating Income | -$2.4M | $835.7K | -$29.6M | -$3.4M | -$26.7M | |
| Net Interest Expenses | $183.2K | $1.6M | $2.3M | $2.4M | $822K | |
| EBT. Incl. Unusual Items | -$2.6M | -$772.3K | -$34M | -$5.8M | -$27.6M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $1.3K | $54.4K | $3.4K | $1.1K | $1.2K | |
| Net Income to Company | -$2.6M | -$826.6K | -$34M | -$5.8M | -$27.6M | |
| Minority Interest in Earnings | -- | -$849.4K | -$2.4M | -$567.9K | -$105.4K | |
| Net Income to Common Excl Extra Items | -$2.6M | -$826.6K | -$34M | -$5.8M | -$27.6M | |
| Basic EPS (Cont. Ops) | -$8,124.84 | -$13.50 | -$34.99 | -$6.00 | -$1,701.88 | |
| Diluted EPS (Cont. Ops) | -$8,124.84 | -$13.50 | -$34.99 | -$6.00 | -$1,701.88 | |
| Weighted Average Basic Share | $300 | $601.8K | $919.5K | $2.4M | $16.4K | |
| Weighted Average Diluted Share | $300 | $601.8K | $919.5K | $2.4M | $16.4K | |
| EBITDA | -$2.4M | $2.1M | -$27M | -$1.1M | -$23.8M | |
| EBIT | -$2.4M | $835.7K | -$29.6M | -$3.4M | -$26.7M | |
| Revenue (Reported) | $10.2M | $27.1M | -$2.5M | $21.1M | -$4.9M | |
| Operating Income (Reported) | -$2.4M | $835.7K | -$29.6M | -$3.4M | -$26.7M | |
| Operating Income (Adjusted) | -$2.4M | $835.7K | -$29.6M | -$3.4M | -$26.7M | |
| 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 | $7.4M | $19.1M | $15.2M | $14.9M | -$14.9M | |
| Revenue Growth (YoY) | -- | -- | -- | -- | -- | |
| Cost of Revenues | $6.5M | $9M | $7.2M | $6.3M | $3.6M | |
| Gross Profit | $906.8K | $10.1M | $8M | $8.5M | -$18.6M | |
| Gross Profit Margin | -- | -- | -- | -- | -- | |
| R&D Expenses | -- | $5.4M | -- | -- | -- | |
| Selling, General & Admin | -- | -- | -- | -- | -- | |
| Other Inc / (Exp) | -$1.2M | $3.5M | $1.7M | $1.5M | -- | |
| Operating Expenses | $15.3M | $19.5M | $16M | $21.5M | $8.1M | |
| Operating Income | -$14.4M | -$9.4M | -$8M | -$13M | -$26.6M | |
| Net Interest Expenses | $1M | $1.7M | $2.9M | $1.2M | $761.5K | |
| EBT. Incl. Unusual Items | -$15.4M | -$13.1M | -$10.9M | -$14.2M | -$27.4M | |
| Earnings of Discontinued Ops. | -- | -- | -- | -- | -- | |
| Income Tax Expense | $52.3K | $3.1K | $1.4K | $600 | $1.6K | |
| Net Income to Company | -$15.5M | -$13.1M | -- | -- | -$27.4M | |
| Minority Interest in Earnings | -$36.2K | -$2.9M | -$340.3K | -$607.6K | -$18.5K | |
| Net Income to Common Excl Extra Items | -$15.5M | -$13.1M | -$10.9M | -$14.2M | -$27.4M | |
| Basic EPS (Cont. Ops) | -$28,603.12 | -$10,390.28 | -$7,149.96 | -$3,597.59 | -$831.21 | |
| Diluted EPS (Cont. Ops) | -$28,603.12 | -$10,390.28 | -$7,149.96 | -$3,597.59 | -$831.21 | |
| Weighted Average Basic Share | ||||||
| Weighted Average Diluted Share | ||||||
| EBITDA | -$14M | -$6.9M | -$6M | -$10.5M | -$23.9M | |
| EBIT | -$14.4M | -$9.4M | -$8M | -$13M | -$26.6M | |
| Revenue (Reported) | $7.4M | $19.1M | $15.2M | $14.9M | -$14.9M | |
| Operating Income (Reported) | -$14.4M | -$9.4M | -$8M | -$13M | -$26.6M | |
| Operating Income (Adjusted) | -$14.4M | -$9.4M | -$8M | -$13M | -$26.6M | |
| 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 | $4.8M | $31.7M | $25.5M | $35.6M | $17.4M | |
| Short Term Investments | $17.6K | $15.9M | $11.1M | $4.5M | $2.4K | |
| Accounts Receivable, Net | $8.1M | $87.9M | $33.3M | $13.9M | $1M | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | $678K | $8.7M | $2.5M | $2.1M | -- | |
| Other Current Assets | -- | -- | -- | -- | $147.5K | |
| Total Current Assets | $16.6M | $128.4M | $69M | $51.6M | $18.6M | |
| Property Plant And Equipment | $34.9K | $17.5M | $14.9M | $20.4M | $17.6M | |
| Long-Term Investments | -- | $1.6M | $1.4M | $1.8M | -- | |
| Goodwill | -- | -- | -- | -- | -- | |
| Other Intangibles | -- | -- | -- | -- | -- | |
| Other Long-Term Assets | $6.3M | $1.5M | $1.2M | $677.2K | $111K | |
| Total Assets | $22.9M | $148.9M | $86.6M | $74.5M | $36.4M | |
| Accounts Payable | $9.1M | $89.1M | $48.8M | $37.6M | $19.7M | |
| Accrued Expenses | $1.8M | $1.6M | $1.9M | $2.2M | $4.7M | |
| Current Portion Of Long-Term Debt | $293.9K | $110K | $110K | $110K | $3.3M | |
| Current Portion Of Capital Lease Obligations | -- | -- | $601.5K | $537.4K | $152.1K | |
| Other Current Liabilities | $5.7K | $554.7K | $2.3M | $3.9M | -- | |
| Total Current Liabilities | $11.3M | $91M | $51.6M | $40.5M | $27.8M | |
| Long-Term Debt | $816K | -- | $4.7M | $1.7M | $1.2M | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $13.6M | $93.5M | $59.2M | $46.1M | $29.2M | |
| Common Stock | $12.3M | $54.1M | $63.7M | $20.3K | $184.3K | |
| Other Common Equity Adj | -$17.5K | -$57.5K | -$303.2K | -$268.6K | -$312.1K | |
| Common Equity | $4.6M | $38.4M | $24M | $27.8M | $10.2M | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -- | -$760.7K | -$1.5M | -$3.1M | -$3.3M | |
| Total Equity | $9.3M | $55.5M | $27.4M | $28.4M | $7.2M | |
| Total Liabilities and Equity | $22.9M | $148.9M | $86.6M | $74.5M | $36.4M | |
| Cash and Short Terms | $4.8M | $31.7M | $25.5M | $35.6M | $17.4M | |
| Total Debt | $816K | -- | $4.7M | $1.7M | $1.2M | |
| Period Ending | 2021-06-30 | 2022-06-30 | 2023-06-30 | 2024-06-30 | 2025-06-30 | |
|---|---|---|---|---|---|---|
| Cash and Equivalents | $14.9M | $11.9M | $15.8M | $19.8M | -- | |
| Short Term Investments | $30.5M | $11.5M | $16.8M | $820 | -- | |
| Accounts Receivable, Net | $23.7M | $50.8M | $33.3M | $8.1M | -- | |
| Inventory | -- | -- | -- | -- | -- | |
| Prepaid Expenses | -- | -- | -- | -- | -- | |
| Other Current Assets | $2.2M | $3.6M | $2.2M | $965K | -- | |
| Total Current Assets | $72.7M | $84.4M | $69.8M | $29.9M | -- | |
| Property Plant And Equipment | $10.3M | $15.9M | $13.8M | $19.1M | -- | |
| Long-Term Investments | $1.5M | $1.5M | $1.4M | -- | -- | |
| Goodwill | -- | -- | -- | -- | -- | |
| Other Intangibles | -- | -- | -- | -- | -- | |
| Other Long-Term Assets | $1.9M | $1.4M | $8.6M | $117.4K | -- | |
| Total Assets | $86.5M | $103.2M | $93.6M | $49.1M | -- | |
| Accounts Payable | $38.6M | $60.2M | $57.1M | $12.7M | -- | |
| Accrued Expenses | $1.2M | $1.8M | $1.9M | $4.6M | -- | |
| Current Portion Of Long-Term Debt | -- | $110K | $109.4K | $748.9K | -- | |
| Current Portion Of Capital Lease Obligations | -- | $535.2K | $606.4K | $328K | -- | |
| Other Current Liabilities | -- | -- | $1.4M | $6.8M | -- | |
| Total Current Liabilities | $40M | $62.8M | $61.2M | $25.2M | -- | |
| Long-Term Debt | -- | $105K | $2.4M | $1.6M | -- | |
| Capital Leases | -- | -- | -- | -- | -- | |
| Total Liabilities | $43.8M | $67.9M | $64.1M | $27M | -- | |
| Common Stock | $4.2M | $95.7K | $8.8K | $38.2K | -- | |
| Other Common Equity Adj | -$42.5K | -$238.2K | -$224.7K | -$340.7K | -- | |
| Common Equity | -- | -- | -- | -- | -- | |
| Total Preferred Equity | -- | -- | -- | -- | -- | |
| Minority Interest, Total | -$36.2K | -$1.2M | -$3.2M | -$3.3M | -- | |
| Total Equity | $42.7M | $35.3M | $29.5M | $22.1M | -- | |
| Total Liabilities and Equity | $86.5M | $103.2M | $93.6M | $49.1M | -- | |
| Cash and Short Terms | $45.4M | $23.4M | $32.6M | $19.8M | -- | |
| Total Debt | -- | -- | -- | -- | -- | |
| Period Ending | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | |
|---|---|---|---|---|---|---|
| Net Income to Stockholders | -$2.6M | -$826.6K | -$34M | -$5.8M | -$27.6M | |
| Depreciation & Amoritzation | $40.6K | $1.3M | $2.7M | $2.4M | $2.9M | |
| Stock-Based Compensation | $3.7M | $381.8K | $1.3M | $1.7M | $1.3M | |
| Change in Accounts Receivable | $17.3K | -- | $6.7M | -$673.3K | $1.8M | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $6.3M | $75.2M | -$63.3M | -$12.7M | -$36.4M | |
| Capital Expenditures | $6M | $10.2M | -- | $7.8M | -- | |
| Cash Acquisitions | -- | -- | -- | -- | $114.3K | |
| Cash From Investing | -$12.8M | -$107.8M | $54M | $26.2M | $17.2M | |
| Dividends Paid (Ex Special Dividend) | $385.9K | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | $1.5M | $110K | $8.1M | $2.4M | $6.1M | |
| Long-Term Debt Repaid | -$1.3M | -$292.2K | -- | -- | -$638.9K | |
| Repurchase of Common Stock | -- | -- | -- | $127.7K | -- | |
| Other Financing Activities | $717.1K | -- | $1.7M | -$1.4M | -- | |
| Cash From Financing | $2.6M | $43.6M | $8.1M | $2.9M | $5.5M | |
| Beginning Cash (CF) | $4.8M | $15.8M | $14.4M | $31.1M | $17.4M | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | -$3.8M | $11M | -$1.3M | $16.7M | -$13.7M | |
| Ending Cash (CF) | $1M | $26.7M | $12.9M | $48M | $3.8M | |
| Levered Free Cash Flow | $392.1K | $65M | -$63.3M | -$20.5M | -$36.4M | |
| Period Ending | 2019-12-31 | 2020-12-31 | 2021-12-31 | 2022-12-31 | 2023-12-31 | |
|---|---|---|---|---|---|---|
| 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 | -$15.5M | -$13.1M | -- | -- | -$27.4M | |
| Depreciation & Amoritzation | $386.3K | $2.5M | -- | -- | $2.7M | |
| Stock-Based Compensation | $3.8M | $840.8K | -- | -- | $176.3K | |
| Change in Accounts Receivable | -- | -- | -- | -- | -- | |
| Change in Inventories | -- | -- | -- | -- | -- | |
| Cash From Operations | $25.5M | $11.3M | -- | -- | -$15.5M | |
| Capital Expenditures | $8.5M | $7.6M | -- | -- | $3.6K | |
| Cash Acquisitions | -- | -- | -- | -- | -$70.4K | |
| Cash From Investing | -$62.4M | -$17.9M | -- | -- | $2.9M | |
| Dividends Paid (Ex Special Dividend) | -$100 | -- | -- | -- | -- | |
| Special Dividend Paid | ||||||
| Long-Term Debt Issued | -- | -- | $6.1M | $3.9M | -- | |
| Long-Term Debt Repaid | -- | -- | -- | -- | -- | |
| Repurchase of Common Stock | -- | -- | -- | -- | -- | |
| Other Financing Activities | -- | -- | -$1.7M | -- | -- | |
| Cash From Financing | $43M | $5.8M | -- | -- | $16.6M | |
| Beginning Cash (CF) | -- | -- | -- | -- | -- | |
| Foreign Exchange Rate Adjustment | -- | -- | -- | -- | -- | |
| Additions / Reductions | $6.1M | -$883.1K | -- | -- | $4M | |
| Ending Cash (CF) | -- | -- | -- | -- | -- | |
| Levered Free Cash Flow | $17M | $3.6M | -- | -- | -$15.5M | |
| 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 | -- | -- | -- | -- | -- | |
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