Box vs. DocuSign: What Quarterly Revenue Trends Tell Investors About These Software Companies
Key Points
DocuSign consistently generates a significantly higher volume of revenue than Box across the evaluated periods.
Both companies have maintained steady quarter-over-quarter revenue growth trajectories over the last eight quarters, despite minor single-period dips.
Investors should watch whether the absolute revenue gap between the two companies continues to gradually widen or stabilizes in upcoming reporting periods.
Box: Gradual and Steady Revenue Increases
Box (NYSE:BOX) provides a cloud-based software platform that helps organizations securely manage and collaborate on digital content.
It recently launched workflow automation tools and expanded its geographic footprint, while reporting an 80% gross margin for the quarter ended April 30, 2026.
DocuSign: Sustaining a Larger Revenue Base
DocuSign (NASDAQ:DOCU) offers electronic signature software and an extensive suite of tools for digital agreement management to businesses globally.
It integrated new intelligent agreement features and formed identity verification partnerships. The company reported a 13% EBIT margin for the quarter ended April 30, 2026.
Why Revenue Matters for Retail Investors
Revenue represents the total amount of money a business earns from its primary operations over a specific period, and it serves as a baseline indicator of customer demand and overall market scale.
Quarterly Revenue for Box and DocuSign
| Quarter (Period End) | Box Revenue | DocuSign Revenue |
|---|---|---|
| Q3 2024 (July 2024) | $270.0 million | $736.0 million |
| Q4 2024 (Oct. 2024) | $275.9 million | $754.8 million |
| Q1 2025 (Jan. 2025) | $279.5 million | $776.3 million |
| Q2 2025 (April 2025) | $276.3 million | $763.7 million |
| Q3 2025 (July 2025) | $294.0 million | $800.6 million |
| Q4 2025 (Oct. 2025) | $301.1 million | $818.4 million |
| Q1 2026 (Jan. 2026) | $305.9 million | $836.9 million |
| Q2 2026 (April 2026) | $305.9 million | $830.2 million |
Data source: Company filings. Data as of July 13, 2026.
Foolish Take
DocuSign’s sales are far larger than Box’s, but these software companies serve different customer segments. Both are seeing solid year-over-year revenue growth, a sign that their businesses continue to expand.
As a leader in digital legal documents, DocuSign has built up a base of nearly two million customers. It posted a solid 9% year-over-year sales increase in its fiscal first quarter ended April 30. However, its stock fell earlier in 2026 due to investor concerns over artificial intelligence eroding the business of software companies, resulting in a sector-wide sell-off.
DocuSign has incorporated AI into its document management workflows, and its rising revenue indicates customers are embracing the functionality. The company expects its fiscal 2027 sales to grow to about $3.5 billion, up from $3.2 billion in the prior year, so it seems AI is not hurting its business.
Box stock was also hit by Wall Street’s software sell-off, although its sales are growing faster than DocuSign’s. Its revenue of $305.9 million in its fiscal Q1, ended April 30, represented an 11% year-over-year increase.
Box generates 35% of revenue internationally with 70% of that from Japan, so it expects fiscal 2027 sales to be impacted by currency headwinds. Therefore, it forecasted only 9% year-over-year growth in fiscal 2027. Even so, the consistent revenue growth trend for Box, and DocuSign, suggests these are solid businesses to invest in for the long-term investor.
Robert Izquierdo has positions in Docusign. The Motley Fool has positions in and recommends Docusign. The Motley Fool recommends Box. The Motley Fool has a disclosure policy.