9th June 2019

Guidewire reports latest quarter "above guidance ranges"

Guidewire Software has announced its financial results for the fiscal quarter ended 30th April.
“Total revenue and profitability were above our guidance ranges in the third quarter,” said Marcus Ryu, ceo, Guidewire Software. “During the quarter we added two additional InsuranceSuite Cloud customers amidst robust demand for Guidewire Cloud overall, as new and existing customers increasingly seek Guidewire as a trusted partner to shoulder a broader role in their digital transformations. We also continue to ramp our product, operational, and delivery capacity to serve this wave of change for the $2tr global P&C industry.”
Total revenue for the third quarter of fiscal year 2019 was $162.9m, an increase of 15% from the same quarter in fiscal year 2018. License and subscription revenue was $76.2m, an increase of 45%; services revenue was $65.3m, a decrease of 8%; and maintenance revenue was $21.3m, an increase of 14%.

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