Provides Update on Q4 and FY 2024
Guidance
SAN
FRANCISCO, Feb. 6, 2024 /PRNewswire/ -- DocuSign
(Nasdaq: DOCU) today announced a restructuring plan (the
"Restructuring Plan") designed to strengthen and support the
Company's financial and operational efficiency while continuing to
invest in product and related initiatives that will provide the
foundation to realize its multi-year growth aspirations as an
independent public company.
DocuSign also announced that it expects to meet or exceed the
Company's Q4 and FY 2024 financial guidance as described in the
earnings release on December 7,
2023.
As part of the Restructuring Plan, the Company expects it will
restructure and reduce its current workforce by approximately 6%,
with the majority of impacted positions in the Company's Sales
& Marketing organizations. The Company currently estimates that
it will incur approximately $28 to
$32 million in non-recurring
restructuring charges in connection with the Restructuring Plan,
consisting primarily of cash expenditures for employee transition,
notice period and severance payments, employee benefits, and
related costs as well as non-cash expenses related to vesting of
share-based awards.
The Company expects that the majority of the restructuring
charges will be incurred in the first quarter of fiscal 2025, and
that the execution of the Restructuring Plan will be substantially
complete by the end of the second quarter of fiscal 2025.
The Company will share further financial details about the
restructuring during its fourth quarter fiscal 2024 results
publication.
About DocuSign
DocuSign redefines how the world comes together and agrees,
making agreements smarter, easier and more trusted. As part of its
industry leading product lineup, DocuSign offers eSignature, the
world's #1 way to sign electronically on practically any device,
from almost anywhere, at any time. Today, over 1 million customers
and more than a billion users in over 180 countries use DocuSign
products and solutions to accelerate the process of doing business
and simplify people's lives. For more information visit
http://www.docusign.com.
Copyright 2024. DocuSign, Inc. is the owner of DOCUSIGN® and all
its other marks (www.docusign.com/IP).
Investor Relations:
Investor Relations
investors@docusign.com
Media Relations:
Corporate Communications
media@docusign.com
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SOURCE DocuSign, Inc.