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Jul 31, 2023
Guidewire Q4 2023 Earnings Report
Guidewire's Q4 2023 earnings exceeded expectations with record demand for its cloud platform and significant ARR growth.
Key Takeaways
Guidewire announced strong Q4 2023 financial results, marked by a 10% increase in total revenue to $270.0 million and GAAP net income of $12.2 million, a significant improvement from the previous year's net loss. The company saw record demand for its cloud platform, contributing to a 15% growth in ARR and a 17% increase in Fully Ramped ARR.
Total revenue increased by 10% year-over-year, reaching $270.0 million.
GAAP net income was $12.2 million, a substantial turnaround from a $31.0 million loss in the same quarter of the previous year.
Non-GAAP net income was $62.8 million, compared to $2.2 million in the same quarter of the previous year.
ARR grew by 15% and Fully Ramped ARR grew by 17%, driven by strong cloud sales.
Revenue by Segment
Forward Guidance
Guidewire provided guidance for Q1 2024 and FY 2024, including ARR, total revenue, and operating income (loss) expectations.
Positive Outlook
- ARR between $766 million and $769 million for Q1 2024.
- Total revenue between $197 million and $202 million for Q1 2024.
- ARR between $846 million and $858 million for fiscal year 2024.
- Total revenue between $976 million and $986 million for fiscal year 2024.
- Non-GAAP operating income between $62 million and $72 million for fiscal year 2024.
Challenges Ahead
- Operating loss between $(63) million and $(58) million for Q1 2024.
- Non-GAAP operating loss between $(25) million and $(20) million for Q1 2024.
- Operating loss between $(100) million and $(90) million for fiscal year 2024.
- Operating cash flow between $95 million and $125 million for fiscal year 2024.
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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