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Oct 31, 2022
Guidewire Q1 2023 Earnings Report
Guidewire's Q1 2023 financial results were announced, revealing revenue, ARR, and profitability exceeding guidance.
Key Takeaways
Guidewire reported a solid start to fiscal year 2023, with Q1 ARR, revenue, and profitability exceeding the guidance range. The growth was driven by subscription revenue and improved subscription and support gross margins.
Total revenue for Q1 2023 was $195.3 million, an 18% increase year-over-year.
Subscription and support revenue increased by 25% to $99.1 million.
ARR reached $673 million as of October 31, 2022.
GAAP net loss was $69.3 million, or $0.83 per share.
Revenue by Segment
Forward Guidance
Guidewire issued the following outlook for the second quarter and updated outlook for fiscal year 2023 based on current expectations.
Positive Outlook
- ARR between $695 million and $700 million for Q2 2023
- Total revenue between $221 million and $226 million for Q2 2023
- ARR between $745 million and $760 million for fiscal year 2023
- Total revenue between $886 million and $896 million for fiscal year 2023
- Operating cash flow between $50 million and $80 million for fiscal year 2023
Challenges Ahead
- Operating income (loss) between $(41) million and $(37) million for Q2 2023
- Non-GAAP operating income (loss) between $(4) million and $0 million for Q2 2023
- Operating income (loss) between $(176) million and $(166) million for fiscal year 2023
- Non-GAAP operating income (loss) between $(28) million and $(18) million for fiscal year 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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