Bill's questions to DocuSign Inc (DOCU) leadership • Q2 2025
Question
Bill, on behalf of Kirk Materne at Evercore ISI, asked if the dollar net retention (NRR) rate has now stabilized and can begin improving, and whether the pressure from customers right-sizing their spend has subsided.
Answer
CFO Blake Grayson confirmed that the dollar net retention rate has stabilized for a few quarters and is expected to remain consistent for the rest of the fiscal year, demonstrating the business's resilience. CEO Allan Thygesen added that the ultimate goal is to return to double-digit growth, which would inherently require the DNR to move up, as most activity will be up-sells to the existing 1.6 million customers. This implies a focus on up-sell and cross-sell outpacing any remaining optimization pressure.