06:39 AM EDT, 09/06/2024 (MT Newswires) -- DocuSign ( DOCU ) slightly lifted its full-year revenue outlook late Thursday as the electronic signature company recorded better-than-expected fiscal second-quarter results.

Revenue is now set to come in between $2.94 billion and $2.95 billion for fiscal 2025, compared with the company's prior guidance of $2.92 billion to $2.93 billion. The consensus on Capital IQ is for revenue of $2.95 billion. Subscription revenue is pegged at $2.86 billion to $2.88 billion versus previous projections of $2.84 billion to $2.86 billion.

Billings, which reflect sales to new customers plus subscription renewals and additional sales to existing customers, are expected to be in a range of $2.99 billion to $3.03 billion for the ongoing fiscal year, reflecting a higher upper end than the prior forecast's $2.98 billion estimate.

"As continually shown in recent quarters and years, billings are heavily impacted by the timing of customer renewals, leading to meaningful variability from period to period," Chief Financial Officer Blake Grayson said during an earnings call, according to a Capital IQ transcript. "This affects both year-over-year and sequential quarter-over-quarter comparisons, with the impact further amplified by the scale of our book of business."

DocuSign ( DOCU ) expects to generate revenue of $743 million to $747 million for the current three-month period ending October, while the Street is looking for $745.6 million. Subscription sales are expected to come in between $722 million and $726 million, while billings are seen at $710 million to $720 million.

Shares of the company were down 1.4% in Friday's premarket activity.

For the quarter ended July 31, DocuSign's ( DOCU ) adjusted earnings advanced to $0.97 per share from $0.72 the year before, beating the Street's view for $0.81. Revenue increased 7% year over year to $736 million, topping analysts' $727.8 million estimate.

The company's subscription revenue climbed to $717.4 million from $669.4 million in the prior-year quarter, while professional services and other revenue ticked up 2% to $18.7 million. Total billings gained 2% to $724.5 million, impacted by last year's "strong on-time renewal performance and the timing impacts of various customer contracts this year," Grayson said on the call.

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