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Apr 30, 2023
Guidewire Q3 2023 Earnings Report
Guidewire's Q3 2023 financial results were announced, showcasing a 5% increase in total revenue and highlighted by eight cloud deals.
Key Takeaways
Guidewire reported a 5% increase in total revenue for Q3 2023, driven by a 24% increase in subscription and support revenue. The company's profitability expectations for the year have been raised due to higher cloud margins and cost discipline.
Total revenue increased by 5% compared to the same quarter in fiscal year 2022.
Subscription and support revenue increased by 24% year-over-year.
GAAP loss from operations improved compared to the same quarter in fiscal year 2022.
ARR reached $722 million as of April 30, 2023.
Guidewire
Guidewire
Guidewire Revenue by Segment
Forward Guidance
Guidewire is issuing the following outlook for the fourth quarter of fiscal year 2023 based on current expectations:
Positive Outlook
- ARR between $745 million and $755 million
- Total revenue between $255 million and $265 million
- Operating income (loss) between $(7) million and $3 million
- Non-GAAP operating income (loss) between $29 million and $39 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income