1
00:00:00,160 --> 00:00:04,920
Speaker 1: Electronic signature software company DocuSign It's third quarter numbers really

2
00:00:04,920 --> 00:00:07,600
Speaker 1: did beat expectations. The company is boosting its revenue forecast

3
00:00:07,640 --> 00:00:10,560
Speaker 1: for the full year as well. We're up again twenty

4
00:00:10,600 --> 00:00:14,000
Speaker 1: five percent on this particular company. Let's have a talk

5
00:00:14,000 --> 00:00:16,439
Speaker 1: about it with the docu signed CEO and Antiquerson, who

6
00:00:17,120 --> 00:00:21,400
Speaker 1: ultimately is displaying what seems to be a growth here

7
00:00:21,520 --> 00:00:24,200
Speaker 1: that is not just coming from early contract renewal but

8
00:00:24,280 --> 00:00:26,720
Speaker 1: also new products that you're offering. How much are they

9
00:00:26,840 --> 00:00:29,480
Speaker 1: to be said for the galvanization and growth.

10
00:00:31,160 --> 00:00:33,000
Speaker 2: Yeah, well, first of all, it was it was a

11
00:00:33,120 --> 00:00:35,519
Speaker 2: very positive quarter for us. I think we beat on

12
00:00:35,600 --> 00:00:37,280
Speaker 2: all the metrics and we're able to raise for the

13
00:00:37,320 --> 00:00:41,519
Speaker 2: full year and that was really a reflection of strength

14
00:00:41,520 --> 00:00:44,680
Speaker 2: across the board. So in our existing business, the signature

15
00:00:44,680 --> 00:00:49,519
Speaker 2: of business everyone knows well, we significant improve retention and

16
00:00:49,640 --> 00:00:54,480
Speaker 2: reduced churn. We've grown our channels from being predominantly direct

17
00:00:54,520 --> 00:00:57,400
Speaker 2: sales to now also having a very strong digital channel

18
00:00:57,440 --> 00:01:00,000
Speaker 2: and building out our partner channel. And then, as you mentioned,

19
00:01:00,680 --> 00:01:03,440
Speaker 2: our new products which we launched at the end of

20
00:01:03,480 --> 00:01:08,120
Speaker 2: May to a limited distribution to the mid sized customers

21
00:01:08,120 --> 00:01:11,360
Speaker 2: in North America. Started contributing in this quarter as well,

22
00:01:11,440 --> 00:01:14,520
Speaker 2: So it's still early, but I think Doug Sun's on

23
00:01:14,760 --> 00:01:17,440
Speaker 2: a very positive trajectory of rejuvenation.

24
00:01:18,360 --> 00:01:22,000
Speaker 1: Rejuvenation, let's talk about that, because the acceleration of billings

25
00:01:22,000 --> 00:01:25,040
Speaker 1: are basically coming from a very depressed level, and everyone

26
00:01:25,120 --> 00:01:27,360
Speaker 1: is saying that this is really encouraging. But when I

27
00:01:27,360 --> 00:01:29,560
Speaker 1: look at Pipa Sun and in particular, they're sort of

28
00:01:29,600 --> 00:01:32,360
Speaker 1: waiting for really the new solutions and new offerings to

29
00:01:32,440 --> 00:01:36,759
Speaker 1: make meaningful difference to your revenue. When will that happen?

30
00:01:36,800 --> 00:01:37,440
Speaker 1: Will that happen?

31
00:01:39,200 --> 00:01:42,720
Speaker 2: Yeah, Well, it's a journey and we're working on that.

32
00:01:43,120 --> 00:01:46,280
Speaker 2: Our goal is to return to double digital growth. We're

33
00:01:46,319 --> 00:01:49,600
Speaker 2: not putting this particular timeline on that, but as we

34
00:01:49,720 --> 00:01:53,240
Speaker 2: roll out these new products across more geographies and segments.

35
00:01:53,280 --> 00:01:55,800
Speaker 2: We just launched around the world here about a month

36
00:01:55,840 --> 00:02:01,160
Speaker 2: ago and just started shipping to enterprise rollouts, departmental level

37
00:02:01,440 --> 00:02:04,560
Speaker 2: role lots and enterprises. So we're still adding customer segments

38
00:02:04,600 --> 00:02:07,480
Speaker 2: and geographies and as that impacts more and more of

39
00:02:07,480 --> 00:02:10,120
Speaker 2: our book, we can drive more growth. And of course

40
00:02:10,520 --> 00:02:14,000
Speaker 2: any continued improvement in our core business also helps, and

41
00:02:14,000 --> 00:02:15,840
Speaker 2: so you're starting to see some early signs of that.

42
00:02:16,440 --> 00:02:18,919
Speaker 2: We got more work to do, but it's very encouraging

43
00:02:19,200 --> 00:02:20,160
Speaker 2: the progress that we're making.

44
00:02:20,280 --> 00:02:22,080
Speaker 1: You've got some more convincing to do, because when I'm

45
00:02:22,080 --> 00:02:24,040
Speaker 1: looking at the Bloomberg terminal and it points out what

46
00:02:24,120 --> 00:02:26,840
Speaker 1: the revenue expectations are for your business going out to

47
00:02:26,880 --> 00:02:29,400
Speaker 1: twenty twenty seven, I'm afraid we're staying in single digits

48
00:02:29,400 --> 00:02:32,160
Speaker 1: for all of those expectations. As far as we go,

49
00:02:32,800 --> 00:02:35,639
Speaker 1: what do you think really catalyzes back to I'm not

50
00:02:35,680 --> 00:02:38,040
Speaker 1: saying the forty percent increase in revenue we used to

51
00:02:38,080 --> 00:02:39,960
Speaker 1: be having in twenty twenty one twenty two, but at

52
00:02:40,040 --> 00:02:41,840
Speaker 1: least the double digit what gets you there?

53
00:02:41,960 --> 00:02:46,359
Speaker 2: Alan, Yeah, I think we get there through that through

54
00:02:46,400 --> 00:02:49,920
Speaker 2: the combination of continued improvement and retention to our core

55
00:02:50,040 --> 00:02:53,959
Speaker 2: and then the full rollout and adoption of our new products.

56
00:02:54,040 --> 00:02:57,120
Speaker 2: We can call it intelligent agreement management. It's a much

57
00:02:57,160 --> 00:03:00,360
Speaker 2: broader value proposition that dock Shigne has had historically, true

58
00:03:00,400 --> 00:03:04,960
Speaker 2: C suite sell It's across the entire enterprise, and we

59
00:03:05,040 --> 00:03:07,520
Speaker 2: have I think tremendous green field opportunity. Are in the

60
00:03:07,560 --> 00:03:11,800
Speaker 2: best position to really help transform how agreements get done.

61
00:03:12,200 --> 00:03:16,400
Speaker 2: That's our opportunity. As we execute on that, then we

62
00:03:16,440 --> 00:03:18,520
Speaker 2: can deliver on that growth opportunity.

63
00:03:18,560 --> 00:03:19,959
Speaker 1: You've got about a billion news is one and a

64
00:03:20,000 --> 00:03:22,040
Speaker 1: half million customers. What sort of numbers do you end

65
00:03:22,080 --> 00:03:23,360
Speaker 1: up getting to do you think?

66
00:03:26,320 --> 00:03:29,760
Speaker 2: Well, so we already have, as you mentioned, over a

67
00:03:29,800 --> 00:03:32,880
Speaker 2: billion signers. I'm sure we will add more signers, but

68
00:03:32,919 --> 00:03:35,040
Speaker 2: we've got a lot of people who are already used

69
00:03:35,040 --> 00:03:38,160
Speaker 2: to signing Docus signed documents. And from a customer perspective,

70
00:03:38,280 --> 00:03:42,840
Speaker 2: we're adding about ten percent, growing our customer base ten

71
00:03:42,880 --> 00:03:46,760
Speaker 2: percent year every year, every quarter, but those tend to

72
00:03:46,760 --> 00:03:49,760
Speaker 2: be smaller customers. We are already present in most large

73
00:03:49,760 --> 00:03:51,880
Speaker 2: companies in the world. I believe over eighty five percent

74
00:03:51,920 --> 00:03:54,200
Speaker 2: of the Fortune five hundred are already Dock signed customers.

75
00:03:54,320 --> 00:03:58,760
Speaker 2: So our opportunity is more adding breath, basically cross selling

76
00:03:58,840 --> 00:04:02,400
Speaker 2: and upselling our new broader solutions into clients that are

77
00:04:02,440 --> 00:04:06,720
Speaker 2: already generally happy customers are docusenting. So fantastic starting point.

78
00:04:06,960 --> 00:04:09,600
Speaker 1: Where is the competition for you? Who do you put

79
00:04:09,600 --> 00:04:11,320
Speaker 1: yourself most often up against?

80
00:04:12,200 --> 00:04:16,520
Speaker 2: Yeah, Historically we've had some competition in the electronic signature space,

81
00:04:16,560 --> 00:04:18,960
Speaker 2: where by far the market leader I think the preferred

82
00:04:19,000 --> 00:04:23,440
Speaker 2: branded solution, but we have some lower price competition there

83
00:04:23,560 --> 00:04:26,080
Speaker 2: I think increasingly as we move into this broader agreement

84
00:04:26,160 --> 00:04:29,599
Speaker 2: management space, those competitive dynamics change, and as I mentioned,

85
00:04:29,880 --> 00:04:32,719
Speaker 2: we believe that's mostly open field running and we're the

86
00:04:32,720 --> 00:04:35,279
Speaker 2: first too, I think, articulate this broader vision and execute

87
00:04:35,279 --> 00:04:37,320
Speaker 2: on it. So if we can keep that going, I

88
00:04:37,320 --> 00:04:39,800
Speaker 2: think we're in a very good we'ren't a very good

89
00:04:39,800 --> 00:04:41,440
Speaker 2: position competitively, And just.

90
00:04:41,520 --> 00:04:43,320
Speaker 1: Give us a bird side perspective. When you're in one

91
00:04:43,400 --> 00:04:47,120
Speaker 1: hundred and eighty countries where is growing most geographically, how

92
00:04:47,160 --> 00:04:49,880
Speaker 1: resilient does the US look when we're entering a new administration.

93
00:04:51,080 --> 00:04:54,200
Speaker 2: Yeah, Well, the year's economy has been the strongest of

94
00:04:54,240 --> 00:04:57,599
Speaker 2: the major development markets, and so we're certainly benefiting from that.

95
00:04:57,920 --> 00:05:00,440
Speaker 2: On the other hand, the US is also the furthest

96
00:05:00,480 --> 00:05:03,719
Speaker 2: along in the adoption of electronic signature, which still remains

97
00:05:03,720 --> 00:05:06,920
Speaker 2: the bulk of our revenue, whereas some other major markets,

98
00:05:07,240 --> 00:05:09,720
Speaker 2: for example Germany and Japan are a much earlier state

99
00:05:09,800 --> 00:05:12,760
Speaker 2: of adopting various forms of electronic contracting, so we have

100
00:05:12,800 --> 00:05:15,400
Speaker 2: a lot of growth opportunity there. We're growing faster, name

101
00:05:15,440 --> 00:05:17,760
Speaker 2: for the faster outside the US than we are in

102
00:05:17,800 --> 00:05:19,280
Speaker 2: the US, and I think that will continue to be

103
00:05:19,320 --> 00:05:20,960
Speaker 2: the case. For years to come.

104
00:05:22,040 --> 00:05:24,880
Speaker 1: Dokus signed CEO Alan Tikison. It's great having some time

105
00:05:24,920 --> 00:05:27,360
Speaker 1: with the Congratulations on the share pop on the numbers