By Robert Barba
Shares of $DocuSign(DOCU.US)$ fell nearly 20% in after-hours trading after the technology that enables digital signatures released guidance for its fiscal 2023.
The company said it expects total revenue to range from $2.47 billion to $2.48 billion. Analysts polled by FactSet were expecting $2.6 billion.
The company also guided for subscription revenue to range from $2.39 billion to $2.4 billion, and for billings to range from $2.7 billion to $2.73 billion.
For the fiscal fourth quarter, the company reported adjusted earnings of 48 cents a share on revenue or $580.8 million. Analysts were expecting adjusted earnings of 48 cents a share on revenue of $562 million.
DocuSign also said its board has authorized it to buy back $200 million worth of shares.
Shares of DocuSign closed Thursday at $93.88, down 4.3%. The stock is down nearly 56% over the last 12 months.
Write to Robert Barba at Robert.Barba@WSJ.com
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