Guidewire Software Reports Q3 Beat, Provides Outlook
2022.06.07 23:56
Guidewire Software (GWRE) Reports Q3 Beat, Provides Outlook
By Davit Kirakosyan
Guidewire Software (NYSE:GWRE) reported its Q3 results, with EPS of ($0.26) coming in better than the consensus estimate of ($0.28). Revenue grew 20% year-over-year to $197.4 million, beating the consensus estimate of $187.72 million.
Subscription and support revenue grew 34% year-over-year to $86.9 million, services revenue grew 18% year-over-year to $56.7 million, and license revenue grew 6% year-over-year to $53.9 million.
“In the third quarter, we exceeded our outlook for revenue and ARR driven by continued momentum for Guidewire Cloud, closing another eight cloud deals in the quarter,” CEO Mike Rosenbaum commented. “This momentum is a result of the terrific progress we are making with Guidewire Cloud and also the resilience and durability of our customer base and the industry we serve.”
The company expects Q4/22 revenue to be in the range of $226-232 million, compared to the consensus estimate of $230 million. ARR is expected to be in the range of $668-$674 million.
For the full 2022-year, the company expects revenue in the range of $794-$800 million, and ARR in the range of $668-$674 million.
