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Oct 31, 2023
Guidewire Q1 2024 Earnings Report
Guidewire's Q1 2024 financial results were announced, showcasing a strong start to the fiscal year with revenue increase and ARR exceeding expectations.
Key Takeaways
Guidewire reported a 6% increase in total revenue to $207.4 million for Q1 2024. ARR reached $770 million, surpassing the high end of the company's outlook. The company's profitability targets for the year were raised, indicating an inflection point.
Total revenue increased by 6% year-over-year to $207.4 million.
Subscription and support revenue grew by 29% to $127.6 million.
ARR reached $770 million, exceeding the high end of the outlook.
GAAP loss from operations improved significantly to $33.8 million, compared to $74.6 million in the same quarter of the previous year.
Guidewire
Guidewire
Guidewire Revenue by Segment
Revenue by Segment
Subscription & Support Revenue
CapyFin.comLicense Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
Guidewire issued the following outlook for the second quarter of fiscal year 2024 based on current expectations:
Positive Outlook
- ARR between $793 million and $798 million
- Total revenue between $237 million and $243 million
- Non-GAAP operating income (loss) between $15 million and $20 million
- ARR between $846 million and $858 million
- Non-GAAP operating income (loss) between $82 million and $92 million
Challenges Ahead
- Operating income (loss) between $(24) million and $(19) million
- Total revenue between $976 million and $986 million
- Operating income (loss) between $(75) million and $(65) million
- Operating cash flow between $115 million and $135 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income