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Apr 30, 2024
Guidewire Q3 2024 Earnings Report
Guidewire's Q3 2024 financial results were announced, marked by exceeding expectations in ARR, revenue, and operating income.
Key Takeaways
Guidewire reported strong Q3 2024 results, driven by Tier-1 deal volume and migration activity, particularly in Asia Pacific. The company exceeded expectations for ARR, revenue, and operating income, with eight cloud deals contributing to a 33% increase in InsuranceSuite cloud wins year-to-date.
Total revenue increased by 16% year-over-year to $240.7 million.
Subscription and support revenue grew by 28% to $138.0 million.
GAAP loss from operations improved significantly, from $57.8 million to $16.7 million.
ARR reached $828 million, compared to $763 million as of July 31, 2023.
Revenue by Segment
Forward Guidance
Guidewire is issuing the following outlook for the fourth quarter of fiscal year 2024 based on current expectations:
Positive Outlook
- ARR between $856 million and $864 million
- Total revenue between $279 million and $287 million
- Operating income between $5 million and $13 million
- Non-GAAP operating income between $43 million and $51 million
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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