Revenue at digital signature giant DocuSign jumped 36 percent to more than $518 million in its fiscal year ended Jan. 31, 2018, driven primarily by its fast-growing subscription business, according to an updated IPO filing this afternoon.
The company also reduced its annual loss to less than $53 million, from a loss of more than $115 million in the prior year, the filing shows.
DocuSign filed for a $100 million initial public offering last week, aiming to become the latest in a series of technology companies to make their stock market debut this year. The company will trade on the Nasdaq under the ticker symbol DOCU.
Founded in 2003, DocuSign has expanded beyond its early work in digital signatures into a range of electronic contract and business technologies. Its sales of subscriptions to corporate customers now constitute the vast majority of its business. Overall subscription revenue rose to more than $484 million in its most recent fiscal year, up from $348 million the year before.
The company originally started in Seattle and later relocated its headquarters to the San Francisco Bay Area. However, its Seattle office at the 999 Third Avenue tower remains its largest, with more than 850 people as of late last year.
Earlier today, music service Spotify made its stock market debut, closing up nearly 13 percent after soaring much higher in early trading.