Duck Creek Technologies (DCT) Shares Fall 9% on Weak Q3 Revenue Guidance

Duck Creek Technologies (NASDAQ: DCT) shares were trading more than 9% lower after-hours Thursday on the back of the company’s lower-than-expected third quarter guidance, while second quarter results came in above consensus estimates.

Q2 EPS was $0.04, compared to the consensus of $0.01, and revenue was $76.4 million (up 22% year-over-year), compared to the consensus of $72.75 million.

Subscription revenue grew 29% year-over-year to $39.6 million, professional services revenue grew 15% to $26.0 million, license revenue grew 30% to $4.6 million, and maintenance and support revenue grew 5% to $6.2 million.

The company expects Q3 revenue to range from $71 million to $73 million, below the consensus estimate of $76.06 million.

For the full 2022-year, the company expects revenue to range from $301 million to $305 million, compared to the consensus estimate of $302.05 million.

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