The Irish arm of DocuSign last year returned to profit to record pre-tax profits of $28.46m (€24.44m) after a restructuring of the business in 2024 that involved job losses.
New accounts for the Dublin-registered DocuSign International (EMEA) Ltd show that revenues increased by 54% from $191.42m to $294.79m in the 12 months to the end of January, 2025.
The pre-tax profit of $28.46m followed the electronic signature software company sustaining a pre-tax loss of $89.66m, which included a non-cash impairment loss of $22.3m in the prior year.
The revenues generated by the Dublin-based EMEA firm account for just under 10% of DocuSign's global revenues of $2.9 billion for the 12 months to the end of January 2025.
The accounts show that $247.86m of the Irish unit's $294.7m revenues were recorded in Europe.
Globally at the end of January 2025, DocuSign had a total of nearly 1.7 million customers, including over 260,000 enterprise and commercial customers, compared to over 1.5 million customers and approximately 242,000 enterprise and commercial customers one year prior.
Headquartered in San Francisco, DocuSign generates around 97% of revenues from sales of subscriptions.
The directors of the Irish unit state that the profit for the year "was primarily driven by the continued growth in third-party revenue".
"Increases in revenue were driven by contract volume increases as renewals for existing EMEA based customers transitioned from Docusign Inc to the company," the directors say.
They state that the company continued to absorb certain operational costs directly, including sales, marketing, R&D, and other support services for commercial activities in EMEA.
The company commenced operations here in Ireland in 2015 and numbers employed here had grown to 748 at the end of January 2024.
The return to profit in 2025 followed the company announcing restructurings involving reductions in workforce in February 2024.
In the 12 months to the end of January 2025, numbers reduced from 748 to 700 as staff costs reduced from $136m to $129m.
The staff costs last year included severance costs of $1.09m which followed $1.04m paid out under that heading in the prior year.
Salaries totalled $90.54m which equates to an average salary of $129,356 and that excludes equity share-based payments of $9.42m and cash settled share based payments of $15.3m.
Pay to directors more than doubled from €1.74m to $3.64m last year.
The company recorded a post tax profit of $27.54m after incurring a corporation tax charge of $913,374.
The profit takes account of combined non-cash depreciation and amortisation costs of $7.9m.
In July 2024, the company subleased the first floor space located at 5 Hanover Quay in Dublin to Apple Operations International Limited in July 2024 for 30 months.
Shareholder funds at the end of January 2025 totalled $41.9m. Cash funds increased from $16.19m to $71.32m.
Reporting by Gordon Deegan
