DOCUSIGN INC

For the period ended Jan 31, 2024. Filed Mar 21, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 21, 2024

DOCU$77.66-0.1%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows for the Years Ended

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended January 31,
(in thousands)	2024	2023	2022
Cash flows from operating activities:
Net income (loss)	$73,980	$(97,454)	$(69,976)
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	95,062	86,255	81,913
Amortization of deferred contract acquisition and fulfillment costs	200,163	185,045	144,442
Amortization of debt discount and transaction costs	4,749	4,970	5,098
Non-cash operating lease costs	21,310	27,501	26,819
Stock-based compensation expense	616,847	538,726	408,542
Deferred income taxes	6,292	1,697	1,369
Other	(1,904)	15,723	9,871
Changes in operating assets and liabilities
Accounts receivable	71,681	(75,964)	(117,380)
Prepaid expenses and other current assets	(657)	(5,038)	(7,074)
Deferred contract acquisition and fulfillment costs	(255,159)	(232,315)	(207,393)
Other assets	(15,432)	(22,319)	(11,496)
Accounts payable	(4,826)	(26,440)	12,148
Accrued expenses and other liabilities	6,473	7,340	10,828
Accrued compensation	33,979	(1,781)	1,128
Contract liabilities	152,247	143,177	250,482
Operating lease liabilities	(25,279)	(42,364)	(32,854)
Net cash provided by operating activities	979,526	506,759	506,467
Cash flows from investing activities:
Cash paid for acquisition, net of acquired cash	—	—	(6,388)
Purchases of marketable securities	(336,221)	(533,710)	(384,128)
Sales of marketable securities	—	—	7,569
Maturities of marketable securities	473,869	423,917	283,184
Purchases of strategic and other investments	(645)	(3,750)	(1,750)
Purchases of property and equipment	(92,391)	(77,654)	(61,396)
Net cash provided by (used in) investing activities	44,612	(191,197)	(162,909)
Cash flows from financing activities:
Repayments of convertible senior notes	(726,979)	(16)	(77,906)
Repurchases of common stock	(145,515)	(63,041)	—
Settlement of capped calls, net of related costs	23,688	—	—
Payment of tax withholding obligation on net RSU settlement and ESPP purchase	(144,218)	(84,403)	(386,521)
Proceeds from exercise of stock options	13,991	12,678	23,729
Proceeds from employee stock purchase plan	32,994	36,526	46,077
Net cash used in financing activities	(946,039)	(98,256)	(394,621)
Effect of foreign exchange on cash, cash equivalents and restricted cash	199	(3,784)	(5,594)
Net increase (decrease) in cash, cash equivalents and restricted cash	78,298	213,522	(56,657)
Cash, cash equivalents and restricted cash at beginning of period	723,201	509,679	566,336
Cash, cash equivalents and restricted cash at end of period	$801,499	$723,201	$509,679

CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)

	Year Ended January 31,
(in thousands)	2024	2023	2022
Supplemental disclosure:
Cash paid for interest	$185	$185	$349
Cash paid for operating lease liabilities	34,845	38,873	40,552
Cash paid for income taxes	10,460	10,416	6,940
Non-cash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	$2,879	$4,757	$11,285
Operating lease right-of-use assets exchanged for lease obligations	3,149	63,086	2,749
Fair value of shares issued as part of the repayments of convertible senior notes	—	2	174,230

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