The Clap
Shares of electronic signature facilitator DocuSign (NASDAQ: DOCU) fell more than 24% on Friday after reporting worse-than-expected earnings.
The deets
While the company’s Q1-2022 revenues came in slightly better than expected, as it reported earnings per share well below that of analyst expectations.
You should know
DocuSign was one of the beneficiaries of the pandemic, as it saw demand for its services grow significantly.
Why this matters
While the company hasn’t reported many of its customers completely turning a head on the company, a lot are decreasing their consumption on the platform. DocuSign attributed the earnings hit to macroeconomic conditions & the war in Ukraine.
