By Brian Henry
The CEO of DocuSign touted the company's growth over its first year as a public company on Friday after beating analysts' estimates in its latest quarter.
DocuSign reported earnings and revenue on Thursday that topped analysts' estimates. Adjusted earnings were 6 cents a share, with revenue jumping 34 percent to nearly $200 million dollars. Despite the beat, shares of the e-signature software company fell 4 percent on Friday.
"I think we're quite pleased," said CEO Dan Springer. "We went into the year very optimistic about the potential for the company and set, we think, reasonably aggressive goals. Obviously having the 700 million revenue achievement at 35 percent growth for the year is something we are very pleased with."
Springer characterized the drop in stock price as a "slight adjustment" that has followed a 100 percent increase since the company went public 10 months ago.
I think we feel very good that if we continue to focus on the right things about driving customer success and building a great business the share price will be good and the markets will treat us well," he said.
When it comes to competition, Springer expressed confidence that the company's dominant market share, strong brand, and partnerships with companies like Salesforce will help insulate it from rivals. However, he said the company keeps an eye on major acquisitions ー like Dropbox's recent purchase of HelloSign.
"When larger companies buy into the space, we definitely take note," Springer said. "We treat the competitive dynamic very, very seriously."
Springer also opened up to Cheddar about some of the challenges he faced as CEO while DocuSign adjusted to being a public company. The biggest adjustment was around transparency, he said.
"At DocuSign we have, with our employees, a sense of radical transparency. I try to share every bit of information as quickly as we have it with the company. We now have over 3,000 employees so there's a lot of folks that want to know what's going on. Because we're a public company we have to wait to share any of the key financial information until, in this case, yesterday, when we share it with the overall market. That's probably the hardest piece for me because I want to share the information as quickly as we can to empower the team. "
For full interview click here.