Published on 7 Mar 2024 on GuruFocus.com via Yahoo Finance
Guidewire Software Inc (GWRE) Reports Q2 Fiscal Year 2024 Earnings with Increased ARR and ...
Annual Recurring Revenue (ARR): Increased to $800 million as of January 31, 2024, from $763 million as of July 31, 2023.Subscription and Support Revenue: Grew by 24% year-over-year to $131.6 million.GAAP Net Income: Turned positive at $9.7 million, or $0.12 per share, compared to a net loss in the same quarter last year.Non-GAAP Income from Operations: Improved to $25.7 million, up from $15.1 million in the same quarter of the previous fiscal year.Liquidity: Cash, cash equivalents, and investments totaled $932.7 million at the end of the quarter.Business Outlook: For Q3 FY 2024, ARR is projected to be between $815 million and $820 million, with total revenue expected between $228 million and $234 million.
Warning! GuruFocus has detected 6 Warning Signs with GWRE.
On March 7, 2024, Guidewire Software Inc (NYSE:GWRE) released its 8-K filing, announcing financial results for the second quarter of fiscal year 2024. The company, known for its software solutions for property and casualty insurers, including its flagship product InsuranceSuite, reported a solid quarter with significant growth in its cloud-based offerings.