DocuSign, Inc. (NASDAQ:DOCU) Q4 2023 Earnings Call Transcript

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Allan Thygesen: It’s really across all of those. So, we are absolutely directing investment dollars towards accelerating our product like growth motion, and so that absolutely. But in addition to that, we direct additional investment dollars into accelerating our agreement workflow road map into the CLM space and into our cloud migration. I think many of you are aware that we’re in the process of migrating our suite to Microsoft Azure, a very strong relationship with Microsoft. And this is a really important year for that migration to move some of the core workloads and some of the core compute and storage there. And so, we felt that was deserving of more investment because once we get there, we get more scalability, we can do more of the verticalization that was referred to, we can do — we can better meet local requirements in international markets.

And so it’s just for a variety of reasons a really important migration. It won’t be completed this year, but it — we will really get going in a material way here in fiscal €˜24. So, those are all areas for incremental product investment beyond the self-serve PLG side.

Jake Roberge: Okay. Great. That’s helpful. And then I just wanted to double-click on the product bundles performing better than expected during the quarter. Can you provide some specific examples of those bundles and which products really stood out in terms of customer adoption?

Allan Thygesen: Yes. I mean, very quickly, we — I’d say the most successful one, and I alluded to this earlier, was what we call a new co-bundle, so new customer acquisition where we bundled our core e-signature product with a couple of key options, SMS and single sign-on, and we had a baseline services offering to accelerate onboarding. And that was a really nice bundle. Some of our highest value features that we feel are most highly correlated with both customer satisfaction and renewal and getting people off to a good start, really is helpful for renewal as well. So again, that was the most successful, worked really well, and we need to do more of that.

Jake Roberge: Great. Thanks for taking my question.

Allan Thygesen: Okay. Just quick, let’s just wrap up here. Thank you all for joining and for your support as we continue to evolve our business. In closing, while this past year was challenging, the changes we’re making are vital to driving our long-term growth and success. I think we delivered a solid finish to the year, and we are prioritizing our investment focus on the areas, which we believe will drive increased value for our customers, employees and shareholders. I’m really excited about the steps we’ve taken to accelerate innovation, improve and diversify our go-to-market and support our vision of smarter, easier and trusted agreements. I look forward to sharing more with all of you as the year progresses. Thank you.

Operator: This concludes today’s conference. You may disconnect your lines at this time, and we thank you for your participation.

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