DocuSign Inc Q4 2021 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Karl Emil Keirstead - UBS Investment Bank, Research Division - Analyst : Dan and Cynthia, just on the 4Q billings performance, it came pretty close to the pin relative to the prior quarters where DocuSign had put up pretty strong double-digit beats against the high end. I'm just wondering if anything felt a little different in the fourth quarter. Maybe there was some timing or other factors.

Question: Karl Emil Keirstead - UBS Investment Bank, Research Division - Analyst : Got it. Okay. That's helpful, Cynthia. And then maybe a follow-up for you. I know, typically, when you start the fiscal year, you give your operating margin guidance, but maybe not the cash flow guidance. But as you pointed out, the adjusted free cash flow margins in fiscal '21 were 20% relative to your operating margins of 12%. Should, as we model free cash in fiscal '22, use something similar to that correlation? Or might there be something unusual in fiscal 22, such that it will look a little bit different? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MARCH 11, 2021 / 9:30PM, DOCU.OQ - Q4 2021 DocuSign Inc Earnings Call