DocuSign Soars on Q4 Beat as AI-Driven IAM Expands Revenue Stream

DocuSign beat Q4 expectations with $837 million in revenue (+8% YoY) and over $1 billion in billings for the first time, aided by its Intelligent Agreement Management (IAM) AI platform now representing about 11% of ARR; free cash flow topped $1 billion for the full year with $350 million in cash generated in Q4, while a new $2 billion buyback boosts total authorization to $2.6 billion. International revenue rose 15%, now 30% of sales. Analysts view a Moderate Buy with a $62.60 12‑month target (roughly 32% upside), and the stock climbed about 1.5% after the report.