The term "intangible asset" refers to a resource that has long-term financial value to a company and has no physical substance but still provides real value. Identifiable intangible assets are those that may be sold by the corporation and can be separated from other assets. Identifiable intangible assets include intellectual property such as patents, trademarks, copyrights, or even non-cash government grants like landing rights at airports or broadcasting licenses. These assets are being straight-line-amortized over their respective expected useful lifetimes at their estimated fair values that were recorded at the acquisition date.
DocuSign’s gross value of intangible assets declined from $72.99 million in FY2021 to $76.19 million in FY2022, a decrease of 4.38%. In FY2022, the company's net value of intangible assets was $98.8 million. Customer contracts & related relationships and Existing technology accounted for $110.08 million and $76.19 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $24.77 million in FY2022.
The company's revenue from sales of subscriptions accounted for 97% of its revenue in the year ended January 31, 2022. In the fiscal year 2022, the company's revenue increased from $1.5 billion to $2.1 billion. The company's subscription revenue grew from $1381.40 million in the year 2021 to $2037.27 million in the fiscal year 2022. In the fiscal year that ended on January 31, 2022, subscription revenue rose by $655.9 million, or 47%, increase was primarily due to the expansion of existing customers and the addition of new customers. Increased sales to mid-market and enterprise customers through their direct and indirect sales channels were the key contributors to this expansion.
DocuSign, Inc. provides electronic signature solutions. It offers a platform that enables businesses of all sizes to digitally prepare, sign, act on, and manage agreements. DocuSign serves mortgage, non-profit, government, real estate, insurance, technology, and healthcare industries worldwide. The company offers DocuSign Agreement Cloud, which is a cloud software platform that automates and connects the entire agreement process. It includes DocuSign eSignature, an electronic signature solution. The Agreement Cloud also includes several other applications for automating pre- and post-signature processes, such as automatically generating an agreement from data in other systems, supporting negotiation workflow, collecting payment after signatures, and using artificial intelligence (AI) to analyze a collection of agreements for risks and opportunities.
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