And that's just one example. But it's kind of hard not to think about all three, Pat, for me. You touched on AI, and Dan you and I have talked about this over the years, just about sort of the broad opportunity. So when we get to these other markets, it's not — there's no other DocuSign of with that same sort of presence in another country. And because the TAM is so big, I think the biggest determinant of our ability to grow is our ability to onboard quality people that can build the software that we need and then represent and sell that software into the marketplace so we can then work with our customer success team to drive adoption. That makes a lot of sense. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Software – Application industry is ranked #11 out of the 123 industries. 3 Psychedelic Stocks to Invest In the Future of Medicine, #TradeTalks: Alternative Investments and How They Fit Into Investor Portfolios, #TradeTalks: Social Impact Investing and TELUS ’S Newly Launched Fund, Markets Are Pricing for Next Year, BlackRock’s Watson Says, Investing Strategies: Top Tech Trends For 2021, China EV Stock Frenzy, Holding Long-Term Leaders, Aphria Expands Footprint for U.S. Growth; Analyst Says ‘Buy’. It provides cloud-based transaction products and services in the United States and over 180 countries internationally. That’s why I don’t believe in predictions — and you shouldn’t, either. We don't see customers going back to pen and paper. At the same time, I think as we go forward, we're not at this point changing our historic range that we've talked about since the time of the IPO of saying that's going to be kind of in that teens, 112, 113 on the low end and maybe getting up to 119 or so on the high end. My sense is that it has been an accelerant to our business. In the short term (2weeks), DOCU's stock price should outperform the market by 0.44%.During that period the price should oscillate between -7.79% and +8.53%.. So I would say that we think it's a significant part. We landed 73,000 new customers, bringing our total to nearly 822,000 worldwide. Operator? If you're in different markets overseas, particularly some of the markets where we have had sort of less growth and I put sort of the Germanys and the Japans as an example, we don't have that same brand awareness. Yes, I got confused on the partner side. The company has been posting record revenue growth. It might be good to have Cynthia chat a little bit about sort of the timing, particularly in Q3 and how we saw that play out versus Q4 and going forward. I don't think we've sort of looked at that in our existing TAM because I don't think anyone has really built that market to help people do that analysis across all of their agreements. It's pretty easy to implement. Michael Turrin -- Wells Fargo Securities -- Analyst. But I think the outperformance that we're seeing is driving it to pretty impressive levels year on year. or "Yes, sir. You may proceed with your question. This last point reinforces something that history has taught us at DocuSign. Subscription revenue increased 54% year over year to $367 million. And with our recent momentum, we continue to see new partners join our ecosystem at a healthy clip. On the call with me today, we have DocuSign's CEO, Dan Springer; and CFO, Cynthia Gaylor. We believe our assumptions and expectations related to these forward-looking statements are reasonable, but they are subject to known and unknown risks and uncertainties that may cause our actual results or performance to be materially different. DocuSign now expects fiscal 2021 revenue to be between $1.313 billion and $1.317 billion. The big story of the markets this week is the IPOs of Doordash and Airbnb.. After the initial offer price, they’ve almost doubled in value as investors seem to believe they’re the best stocks to buy.. In addition, we provide non-GAAP weighted average share count and information regarding free cash flows and billings. If you recall, when we finished Q4 last year, the message we had was there was a fairly significant acceleration in particularly CLM, which was the major additional Agreement Cloud product we had at that time. The company has an impressive earnings surprise history. View analysts' price targets for DocuSign. And sometimes when you have outperformance on the top line, it's hard to reinvest that in quarter at the same rate. Super helpful. And so the Agreement Cloud is right back where we want it to be in terms of top of mind with our customers. So when you think about it going forward, I don't expect there to be a significant rotation out of our strong industries. And didn't think that would happen this quarter after last quarter, and it did. To receive notifications via email, enter your email address and select at least one subscription below. Analyst sentiment, which gives a good sense of a stock’s future price movement, is moderate for DOCU. And I'd like to express my personal gratitude and excitement to be working alongside Dan and the entire DocuSign team in this new capacity. Thank you so much, operator. And how should we think — I know you're not getting guidance, but how should we think about next year, if we did see this acceleration pull forward verticals that may have been slower to adopt accelerating it? I'd now like to turn the call over to Dan. Thanks, Annie. Yes, yes. If you think about other platforms, software platforms that have taken off during this pandemic, like Zoom as an example, one of the things we're most excited about there is this notion of becoming a potential powering a marketplace. Thank you, operator, and good afternoon, everyone. And I think what we're seeing right now more than ever is that because people are putting more and more existing customers of their business processes on with DocuSign. And that's why I sort of see is probably the trend moving in the future. And I guess, do you feel like demand was pulled forward? I guess let me touch on something that maybe Stan and Sterling touched on in a different fashion. So they're coming back to us saying, "We want to renew and up the volume." Thank you. DOCU stock on the rise Friday after Docusign (DOCU) reported positive earnings results for its third quarter of fiscal 2021. Price at the end 80.20, change for September 5.0%. So I'm sure you don't want to give guide on this call, but is there any framework you can provide? We are on track to deliver the beta version of the product before the end of this fiscal year. Let me share more on how our customers are doing that today. Maybe help us understand how you think about that. The Seal technology being used? These two platforms will be integrated into the Agreement Cloud suite of products to enhance the breadth of its offerings. Koji Ikeda -- Oppenheimer and Company -- Analyst. We're a software company. And then I've got a longer-term question. It just hasn't been growing its share the way it had been growing substantially, again, off a very, very small base but growing its position there. Since the company even agrees that revenue pull forwards are an issue for a vaccine dominated FY22, the stock … However, the positive coronavirus vaccine news caused the high-flying growth stock to an immediate correction. NIO stock price predictions for October 2021. Just one question from my side, and it's the one that I get most from investors at the moment, and that is how much of your revenue growth is being impacted by existing customers that are either coming back to buy more envelopes or per seat pricing where they hit that level of reasonable volume and then they have to really kind of come in and either buy envelopes or upsell? I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. We continue to put ourselves in a position with the federal government. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? Or was there just a larger quantity of them that's been happening? So we haven't lost that opportunity to take that global leadership position in each of the key international markets where we want to be and that's — we intend to do just that. And even in Q4, our Q4 last year was very strong, and it was a significant quarter on its own. DocuSign (DOCU) Q3 2021 Earnings Call Transcript, Airbnb (ABNB) and DoorDash (DASH) IPOs: One Day Apart But Timing Is Completely Different. Moreover, its trailing P/S of 33.22x is 918.2% higher than the sector’s 3.26x. As you think about the amount of data you have, do you think, I guess to a point where you start doing sort of even deeper contract analysis? Yes. Yes. As you think about that post-pandemic world and given all the high net expansion rates and everything you're seeing, does that pace of acceleration maybe slow down now that there's less urgency with remote work? @/i, failureMessage: "A valid email address is required", negate: "true"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom5 = document.querySelector('#form1783 #field5');var field5 = new LiveValidation(dom5, {validMessage: "", onlyOnBlur: false, wait: 300});field5.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. Our international business grew over 77% year over year, reflecting our continued growth across geographies. Hey. or "I started a new job, and I was able to sign that when I was traveling." Dan, I was just curious, when you think about all the new direct customers that you've landed over the last couple of quarters, I realize they don't have necessarily the time to talk about the full sort of Agreement Cloud right now with you. We don't know how much longer the pandemic is going to last. There is a risk of changes in the orbit of the planet, but the reason is not only the invention, but also cosmic factors. [Operator instructions] I would now pass this call over to Ms. Anne Leschin, head of investor relations. Davidson -- Analyst. We believe that trend will hold when the pandemic subsides, and the DocuSign's value will persist no matter how the future of work unfolds. On opex, I mean, I think we've seen a lot of companies in this environment actually see the opex growth significantly tempered by COVID, Latin and so forth. And so I think, as Dan said, when you think about the TAM and the market penetration, we're really just scratching the surface. We don't really think about that as information that's ours to sort of play with. Remember, DocuSign only forecasts FY21 (Jan.) revenues of $1.43 billion. I am thrilled to have Kayne providing strategic counsel to DocuSign and to me, especially given his track record in financial services and healthcare, two of our large verticals. But at the same time, I think the second part of your question, which is really important is we're also hitting our stride with the capabilities we have and the rest of the Agreement Cloud. Find out if DOCU can regain its momentum as we enter 2021. 77% growth, very nice acceleration in that segment of the business, and Mike now going to be at the helm of it. The forecast for beginning of August 101. Got you. So just as we look ahead into next year and beyond, can you maybe talk about any expectations you have for how you expect those customers to ramp over time? We have APIs, but we haven't really fully integrated them into one platform. DOCU is scheduled to announce its fiscal third-quarter results on December 3rd, 2020. So my guess would be, but I can give it a little more thought. But we'll make dollar trade-offs to grow top line before we improve margin. And as Cynthia was describing, but also customers saying they want to expand into the rest of the Agreement Cloud, which also gives us another way to turbocharge that number. Nostradamus predicted that after 2021 will create a new tectonic weapons have an enormous power – it will cause geological and environmental violations around the world. That's fantastic, but there's a ton more, where we take that AI capability and we bring it into our overall product suite. But it may be substantial that people have said, digital transformation is what I need now, and they flipped a bit. Averaged Moderna stock price for month 104. As part of the response to COVID-19, the company expanded into several new eSignature use cases, which drove nearly 100,000 additional transactions over just the past seven months. They're usually partners that we've sort of jointly sold before. Patrick Walravens -- JMP Securities -- Analyst. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons ='submit-button'); for(var i=0;i