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DocuSign tumbles despite topping Q1 estimates as demand outlook wobbles

The e-signature giant beat on profit and sales, but a miss on billings spooked investors.

Nia Warfield

DocuSign shares sank over 18% Friday morning after the company delivered solid top-line Q1 results but signaled softer momentum ahead.

Earnings per share hit $0.90, ahead of FactSet’s $0.81 estimate. Meanwhile, revenue reached $763.7 million, also topping estimates and DocuSign’s previous guidance of $745 million to $749 million.

But billings, a key metric that captures total sales including future commitments, fell short at $739 million, below both the Street’s expectations and the company’s previous guidance of $741 million to $751 million. That miss raised fresh concerns about the company’s growth opportunity in a cooling enterprise software market.

“Our full-year guidance anticipated that these changes would lead to lower early renewal billings in fiscal 2026 after Q1. Instead, the impact happened sooner than anticipated,” CEO Allan Thygesen said on the earnings call. He added that while macro conditions didn’t affect Q1, the company is approaching the rest of the year cautiously given the uncertain economic backdrop.

For the current quarter, DocuSign guided revenue of between $777 million and $781 million, roughly in line with expectations.

Despite the day’s dip, DocuSign shares are still up about 43% over the past 12 months.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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