Earnings preview

Docusign, Inc. Docusign, Inc. Q2 FY2027 Earnings Results vs. Expectations

ReportsSep 3, 2026
SlotAfter Market Close

Results are out

This quarter has reported. The consensus below is what we expected going in.

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What the Street expects

EPS · NON-GAAP
$1.09
Range $1.08 to $1.09 per share across feeds
QoQ0.0%
YoY+18.5%
Revenue
$867.16M
Guided $865-869M
QoQ+4.5%
YoY+8.3%

QoQ and YoY are what the consensus implies against the prior quarter and the prior year.

Also on the card
Consensus source Seeking Alpha average $1.09 on $867.16M (2 Sep 2026); Zacks $1.08 on $866.4M
Company guidance Q2 revenue $865-869M (+8% YoY), non-GAAP operating margin 29.7-30.2%, 191-196M diluted shares (4 Jun 2026)
FY2027 guidance Revenue $3,490-3,502M (+9%), ARR growth 8.25-8.75%, non-GAAP operating margin 30.5-31.0%
Basis Non-GAAP diluted EPS; GAAP was $0.40 in Q1 FY2027 and $0.34 a year ago
Prior quarter Non-GAAP EPS $1.09, revenue $830.2M (+9%), IAM 12.6% of ARR, free cash flow $289.4M
Sequential The consensus is the $1.09 Docusign reported in April, to the cent
Other feed Nasdaq/Zacks forward figure $0.44 is not the company non-GAAP basis

Q2 FY2027 reported results

What to watch

  1. Revenue against the guided $865–869 million, and the full-year $3,490–3,502 million. The quarter is close to pre-announced; the full-year number is where a raise or a trim would land.
  2. The ARR growth rate against the guided 8.25–8.75% band, and IAM's share of ARR against 12.6%. This is the only place a reacceleration can appear before revenue.
  3. Non-GAAP operating margin against the guided 29.7–30.2%, and against the full-year 30.5–31.0% — the year guide is above the quarter guide, so the second half has to carry it.
  4. The diluted share count against the guided 191–196 million, and repurchases against $317.5 million. On the arithmetic above, this is where most of the per-share growth comes from.
  5. Free cash flow against $217.6 million and a 27.2% margin in the July quarter a year ago. The seasonal trough; judge it against last July, not against April.

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Estimate against reported

$1.29$0.64$0.00FY2025 Q3 reported $0.30FY2025 Q3FY2025 Q4 reported $0.39FY2025 Q4FY2026 Q1 reported $0.34FY2026 Q1FY2026 Q2 reported $0.30FY2026 Q2FY2026 Q3 reported $0.40FY2026 Q3FY2026 Q4 reported $0.44FY2026 Q4FY2027 Q1 reported $0.40FY2027 Q1FY2027 Q2 estimate $1.09FY2027 Q2 reported $1.16FY2027 Q2
Our published estimate Reported EPS
QuarterEstimateReportedSurprise
FY2025 Q3 — $0.30 —
FY2025 Q4 — $0.39 —
FY2026 Q1 — $0.34 —
FY2026 Q2 — $0.30 —
FY2026 Q3 — $0.40 —
FY2026 Q4 — $0.44 —
FY2027 Q1 — $0.40 —
FY2027 Q2 $1.09 $1.16 +6%

Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.

Every quarter

Q2 FY2027Q1 FY2027Q4 FY2026Q3 FY2026Q2 FY2026Q1 FY2026Q4 FY2025Q3 FY2025

Read the full preview → Q2 FY2027 release page View DOCU stock page