Core Insights - DocuSign reported Q1 FY2026 revenue of $764 million, an 8% year-over-year increase, with a non-GAAP operating margin of 29.5% [1] - The company announced an additional $1 billion in share repurchase authorization, reflecting strong financial management [1][8] Product Innovation and Growth - The Intelligent Agreement Management (IAM) software has surpassed 10,000 customers, with direct IAM deal volume exceeding Q4 FY2025 levels [3] - IAM is projected to represent a double-digit percentage of total subscription business by the end of Q4 FY2026, driven by user experience improvements and new AI features [3][4] Go-to-Market Strategy - DocuSign has realigned its go-to-market strategy by migrating customer segments to a self-serve digital experience and restructuring sales incentives to focus on high-value prospects [5][7] - International IAM deal volume increased over 50% from the previous quarter, indicating strong traction in various channels [6] Financial Performance - The company generated $228 million in free cash flow, achieving a 30% margin, and ended the quarter with over $1.1 billion in cash and no debt [8] - Management raised full-year revenue guidance by $22 million, expecting a range of $3.151 billion to $3.163 billion, implying 6% year-over-year growth [10] Future Outlook - Billings guidance was reduced by $15 million, projecting a 6.5% year-over-year increase at the midpoint, with stronger billings expected in the second half of the year [11] - Non-GAAP operating margin is anticipated to remain between 27.8% and 28.8%, accounting for margin headwinds from cloud migration and compensation changes [11]