Stock Track | Guidewire Software Soars on Strong Q4 Results, Cloud Momentum

Stock Track09-07

Shares of Guidewire Software (GWRE) surged over 18% on September 6, 2024, after the company reported impressive fiscal fourth-quarter results and provided a robust outlook for fiscal 2025. The property and casualty insurance software provider's strong performance was driven by accelerating cloud adoption and robust demand for its products.

For the fourth quarter ended July 31, 2024, Guidewire's total revenue rose 8% year-over-year to $291.5 million, exceeding analysts' expectations. Subscription revenue, which reflects the company's cloud transition, jumped 29% to $151.8 million. Annual recurring revenue (ARR) reached $872 million, up 14% year-over-year on a constant currency basis.

Guidewire's cloud momentum was particularly impressive, with total cloud ARR growing 28% year-over-year and comprising 66% of total ARR. The company closed 16 cloud deals in the quarter, bringing the fiscal year total to 42. This strong performance positions Guidewire well to achieve its target of $1 billion in ARR during fiscal 2025.

Looking ahead, Guidewire forecasts fiscal 2025 revenue between $1.135 billion and $1.149 billion, with subscription revenue expected to grow 34% to $642 million. The company's robust guidance and growing cloud adoption underscore its successful transition to a cloud-based business model, which is expected to drive long-term profitability and customer loyalty.

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The ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GWRE","symbol_name":"Guidewire Software","start_time":0,"source_url":"","article_id":"1145955966","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1145955966","pubTimestamp":1725664584,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Guidewire Software  surged over 18% on September 6, 2024, after the company reported impressive fiscal fourth-quarter results and provided a robust outlook for fiscal 2025. 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