Progress has slowed dramatically since 2021
Through the early days of the pandemic, I needed to have a doc notarized. I met the notary at my native financial institution workplace. She took my doc and my ID by means of a crack within the door. She appeared it over as I waited exterior. Finally she handed the doc and my license again to me; I signed and returned it to her for her stamp. All of this might have been a lot simpler on-line.
DocuSign looks like a slam dunk of an organization. It helped outline the class of digital signing, an concept that got here into full focus through the pandemic when assembly in an workplace grew to become unattainable, however enterprise nonetheless needed to be performed. And but, the corporate’s inventory has been in free fall since 2021 when it peaked at over $300 a share. At present it’s beneath $60.
To be truthful, DocuSign is one among many SaaS corporations that has seen their worth plunge for the reason that market topped out on the finish of 2021, but it surely’s fixing an actual drawback in a world that’s nonetheless caught in paper workflows. Why, then, is it struggling the identical destiny as corporations that might be thought of much less enterprise crucial?
From the surface, the corporate’s wrestle to retain worth and develop appears a bit baffling given its position in digital transformation. Certain, the financial system has slammed loads of enterprise SaaS corporations, however there’s in all probability extra to it than a normal tech slowdown might clarify. It made the transfer to a new CEO when it introduced in former Google advert exec Allan Thygesen final yr. That was an indication maybe that issues have been amiss.
Extra just lately, the corporate introduced at its earnings name earlier this month that CFO Cynthia Gaylor was stepping down after 4.5 years with the corporate in numerous roles.