DocuSign Announces Fourth Quarter and Fiscal Year 2020 Financial Results

 

DOCUSIGN, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

 

Reconciliation of gross profit and gross margin:

 
 

Three Months Ended January 31,

 

Year Ended January 31,

(in thousands)

2020

 

2019

 

2020

 

2019

GAAP gross profit

$

206,820

   

$

147,039

   

$

730,737

   

$

508,548

 

Add: Stock-based compensation

7,777

   

5,654

   

28,585

   

42,040

 

Add: Amortization of acquisition-related intangibles

1,348

   

1,778

   

5,704

   

6,081

 

Add: Employer payroll tax on employee stock transactions

668

   

1,949

   

2,577

   

1,949

 

Add: Acquisition-related expenses

   

   

   

108

 

Non-GAAP gross profit

$

216,613

   

$

156,420

   

$

767,603

   

$

558,726

 

GAAP gross margin

75

%

 

74

%

 

75

%

 

73

%

Non-GAAP adjustments

4

%

 

4

%

 

4

%

 

7

%

Non-GAAP gross margin

79

%

 

78

%

 

79

%

 

80

%

               

GAAP subscription gross profit

$

209,960

   

$

154,012

   

$

754,532

   

$

545,893

 

Add: Stock-based compensation

3,951

   

2,241

   

12,882

   

16,182

 

Add: Amortization of acquisition-related intangibles

1,348

   

1,778

   

5,704

   

6,081

 

Add: Employer payroll tax on employee stock transactions

285

   

830

   

1,054

   

830

 

Non-GAAP subscription gross profit

$

215,544

   

$

158,861

   

$

774,172

   

$

568,986

 

GAAP subscription gross margin

81

%

 

82

%

 

82

%

 

82

%

Non-GAAP adjustments

3

%

 

3

%

 

2

%

 

4

%

Non-GAAP subscription gross margin

84

%

 

85

%

 

84

%

 

86

%

               

GAAP professional services and other gross loss

$

(3,140)

   

$

(6,973)

   

$

(23,795)

   

$

(37,345)

 

Add: Stock-based compensation

3,826

   

3,413

   

15,703

   

25,858

 

Add: Acquisition-related expenses

   

   

   

108

 

Add: Employer payroll tax on employee stock transactions

383

   

1,119

   

1,523

   

1,119

 

Non-GAAP professional services and other gross profit (loss)

$

1,069

   

$

(2,441)

   

$

(6,569)

   

$

(10,260)

 

GAAP professional services and other gross margin

(19)

%

 

(57)

%

 

(43)

%

 

(100)

%

Non-GAAP adjustments

25

%

 

37

%

 

31

%

 

73

%

Non-GAAP professional services and other gross margin

6

%

 

(20)

%

 

(12)

%

 

(27)

%


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