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This statistic highlights DocuSign’s Revenue by Region from Q1 2018 onwards, split between the United States, and rest of the world.
The following table shows DocuSign’s Revenue by Region for Q2 2022. Q1 2022, and Q2 2021.
|Revenue by Region||Q2 2021||Q1 2022||Q2 2022||Revenue Contribution in Q2 2022|
(All figures in millions, except percentages)
DocuSign’s revenue in the U.S. has increased by 44% from $275 million in Q2 2021 to $398 million in Q2 2022. On a QOQ basis, the revenues have gone up by 8%. There has been a consistent and exponential growth in the revenue generated in this region over the past years.
DocuSign is headquartered in California. The U.S. is the only country that accounts for more than 10% of the company’s revenue. The company is particularly benefitted by the U.S. laws like the ESIGN Act and the UETA which give electronic signatures the same weightage as paper documents and wet ink signatures.
The company is continuously expanding its sales force and strategic partnerships, both domestically and internationally. By investing in advertising campaigns on a variety of media platforms, including online and social media, DocuSign has made use of search algorithms used by major search engines to widen its business. In addition to growth in revenue, they have also experienced significant growth in the number of customers and users, not only in the U.S. but also internationally.
DocuSign’s international revenue constituted 22% of the total income in Q2 2022. The company’s international revenue has seen significant growth ever since the beginning of the pandemic, given the increased need for digitalization of business practices.
DocuSign started its global operations in countries like Canada, Australia, and the U.K. because their e-signature laws are similar to that of the U.S. Currently, the company operates in 13 countries spread across the Americas, Asia, Europe, Africa, and Australia. 32% of the total workforce is based outside the U.S.
To drive the growth of its business, DocuSign intends to speed up its international expansion. This will be achieved by leveraging and expanding investments in technology, direct sales force, and strategic partnerships around the world. The company has partnerships with global technology leaders like Google, Microsoft, Oracle, etc. that helps in increasing its global outreach. This will also help its U.S.- based customers manage all their agreements across their international businesses. DocuSign offers region-specific products like the Standards-Based Signature for the EU and eHanko for Japan. However, the company has limited experience in operating business internationally which can impose a risk.
DocuSign was founded in 2003 and offers a cloud software suite that helps in automating and integrating the agreement process. The company started out with electronic signature solutions as its primary offering and has since added several tools in its portfolio to automate the entire agreement process. Electronic signature solutions remain the company’s flagship product and the major contributor to revenues. Some of the other products included in the software suite are CLM, Insight, and Analyzer which automate the entire process of making, analyzing, and understanding agreements. Adobe Sign is the main competitor of the company. Despite having a good foothold in the U.S. and expanding its business to a larger international audience, DocuSign has experienced net losses since its inception in 2003.
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