Duck Creek Technologies (DCT) Stock Sinks 11% Despite Q4 Beat as Guidance Subdued
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Duck Creek Technologies (NASDAQ: DCT) shares were trading more than 11% lower after-hours, despite the company’s reported Q4 EPS and revenues beating the Street estimates as guidance was in-line to slightly lower than the Street.
The quarterly EPS came in at $0.02, compared to the consensus estimate of $0.01. Quarterly revenue grew 21% year-over-year to $70.9 million, beating the Street estimate of $69.09 million.
According to Michael Jackowski, the CEO of Duck Creek Technologies, the company delivered a strong finish to the 2021 fiscal year, highlighted by 41% SaaS Annual Recurring Revenue (ARR) growth due to strong demand across all tiers of the global P&C insurance industry.
The company provided its Q1/22 and full 2022-year outlook, expecting revenue in the range of $68-70 million (vs. Street of $68.7 million) and $292-300 million (vs. Street of $303 million) for Q1/22 and 2022, respectively.
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