The latest cloud stock to join the Nasdaq 100 called for over $1 billion in revenue in the current fiscal year.
on the index, reflecting the rise of cloud services as companies opt for systems they don't need to operate on their own data center infrastructure.HelloSign, debuted on the Nasdaq in 2018. The company's results beat analysts' estimates for the quarter that ended on April 30 as it called for $1.32 billion in revenue for its full fiscal year, which ends in January 2021, implying 35% growth. DocuSign remains unprofitable.
In the quarter DocuSign saw some benefits from the coronavirus pandemic as people had to keep signing documents while they couldn't meet in person. "Even when the Covid-19 situation is behind us, we don't anticipate customers returning to paper or manual-based processes," CEO Dan Springer told analysts on a conference call.
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