Docusign ( DOCU ) shares fell Friday, a day after the provider of document-signing software only slightly beat revenue estimates and its billing guidance raised concerns about growth.

The company posted first-quarter fiscal 2025 adjusted earnings per share (EPS ) of $0.82, with revenue increasing 7.3% year-over-year to $709.6 million. Both exceeded forecasts, but the revenue beat was just 0.3% above the average of analysts compiled by Visible Alpha.

Billings were up 5.2% to $709.5 million. For the current quarter, Docusign sees billings in a range of $715.0 million to $725.0 million, and between $2.98 billion and $3.03 billion for the 2025 fiscal year.

Chief Executive Officer (CEO ) Allan Thygesen said the company “continued to stabilize the business and improve profitability” in the first quarter. He added that the company took an “important step forward as we re-imagine Docusign.”

Docusign CFO Sees Lowest Bookings Growth Rate of Year in Q2

CFO Blake Grayson added that the company anticipates the second quarter will have the lowest year-over-year bookings growth rate in fiscal 2025, “primarily given comparisons vs. last year’s strong on-time renewal performance and the timing impacts of various customer contracts.”

Docusign also announced the board approved a $1 billion increase in the company’s share repurchase program.

Shares of Docusign, which fell 5% to $51.88 as of 11:05 a.m. ET Friday, have lost about 13% of their value this year.