The Irish arm of the rapidly expanding electronic-signature software company DocuSign last year enjoyed a "Covid-19 dividend" as revenues soared by 57% to €75.29m.
The directors for the Dublin based DocuSign International (EMEA) Ltd stated that the impact of Covid-19 on the business "has been positive".
In their report, they said that as more people shift towards remote working, there has been an increase in revenue and billings related to DocuSign products.
But the €27.5m jump in revenues from €48.79m to €75.29m was not sufficient enough to prevent pre-tax losses increasing at the firm's Dublin base last year.
The company's European Middle East and Africa (EMEA) headquarters was only set up here in 2015.
The firm's pre-tax losses increased by 52% from €11.79m to €17.88m in the year to the end of January last.
The directors attributed the company's pre-tax loss of €17.88m to a share-based payment of €21.57m last year.
The share-based payment contributed to salaries and share-based payments costs totalling €58.98m.
Numbers employed by the company last year increased by 212 from 406 to 618. The €58.98m in salary and share-based payment costs work out an average of €95,436 per staff member last year.
At the end of January last, the company had 437 in sales and marketing, 59 in information technology, 76 in administration and 46 in customer service.
The San Francisco-headquartered firm, which was founded in 2003, signalled plans here in 2019 to employ up to 1,000 at Dublin within five years.
Directors' pay increased by €1.24m or 93%% to €2.58m.
Shareholder funds at the end of last January totalled €56.89m and cash funds last year almost doubled from €6.58m to €11.5m.
The loss last year takes account of office rent and expenses of €5.19m and non-cash depreciation costs of €2.92m.
Globally, DocuSign's revenues increased by 49% to $1.5 billion in the year to the end of January last year and it has hundreds of millions of users in over 180 countries.
The business today has a market capitalisation of $30 billion.
The company made its trading debut on the Nasdaq only in 2018 and had a then market capitalisation of $6 billion.
