Guidewire Q3 revenue $207.5M (+5% YoY); raises FY profitability outlook on cloud margin strength

Guidewire Software, Inc.

2023-Q3 EPS reported -$1.51 revenue$635,383,000

GAAP net loss $45.6M ($0.56/sh) vs $57.4M ($0.69) YoY; Non-GAAP net loss $6.4M ($0.08) vs $21.8M ($0.26).
Subscription & support rev $107.5M (+24% YoY); ARR at $722M (up from $664M). Eight cloud deals closed.
Raises FY2023 non-GAAP op income guidance to $(4)-$6M (from prior loss) & operating cash flow $10-40M.
Q4 FY2023 guidance: ARR $745-755M, total rev $255-265M, non-GAAP op income $29-39M.
Cash & investments $806.9M; $184M remaining under $400M share repurchase program; repurchased ~3.4M shares YTD.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Guidewire Software, Inc. reported third quarter of fiscal year 2023 results: revenue $207.5 million, net income $45.6 million, EPS $0.56. Guidance raised.

Period: third quarter of fiscal year 2023
Revenue: $207.5 million
Net income: $45.6 million
EPS: $0.56
Guidance: raised
Result: reported results

Exact text from the filing

Third Quarter Fiscal Year 2023 Financial Highlights Revenue • Total revenue for the third quarter of fiscal year 2023 was $207.5 million, an increase of 5% from the same quarter in fiscal year 2022. Subscription and support revenue was $107.5 million, an increase of 24%; services revenue was $49.4 million, a decrease of 13%; and license revenue was $50.6 million, a decrease of 6%. • As of April 30, 2023, annual recurring revenue, or ARR, was $722 million, compared to $664 million as of July 31, 2022. ARR results for interim quarterly periods in fiscal year 2023 are based on actual currency rates at the end of fiscal year 2022, held constant throughout the year. Profitability • GAAP loss from operations was $57.8 million for the third quarter of fiscal year 2023, compared with $62.4 million for the same quarter in fiscal year 2022. • Non-GAAP loss from operations was $12.2 million for the third quarter of fiscal year 2023, compared with $24.9 million for the same quarter in fiscal year

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accession 0001528396-23-000060

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