...A. Q1 financial performance was strong. B. Revenue of $764 million and 8% growth outpaced our expectation from additional IAM customers and self-serve digital revenue contribution. C. Profitability outperformed with margins improving by 1% versus last year to 29.5%. D. A strong 30% free cash flow margin drove continued share repurchases and supports our conviction to authorize an additional $1 billion in buybacks. E. Our full year guidance anticipated that these changes would lead to lower early renewal billings in fiscal '26 after Q1. F. As a result, billings growth ended slightly below our guidance range of 4% year on year, an outcome of timing, not demand. G. Over 10,000 customers have purchased the Docusign IAM platform. H. Customers using IAM have processed tens of millions of agreements and continued to increase their engagement, especially through AI-generated dashboards and search in Docusign Navigator, our intelligent agreement repository. I. In Q1, IAM usage increased significantly,...
