Guidewire Software (NYSE: GWRE) reported Q1 EPS of $0.17, $0.22 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $169.8 million versus the consensus estimate of $164.62 million.

“We're off to a solid start to the fiscal year with first quarter ARR, revenue, and operating income exceeding the high-end of our guidance ranges. Customer activity and enthusiasm for our platform continued to build coming out of our annual customer conference, Connections," said Mike Rosenbaum, chief executive officer, Guidewire Software. "At Connections, we announced Banff, which delivers on our commitment to a bi-annual release cadence and expands on the cloud-native services offered in the Guidewire Cloud Platform."

GUIDANCE:

Guidewire Software sees Q2 2021 revenue of $168-172 million, versus the consensus of $169.8 million.

Guidewire Software sees FY2021 revenue of $723-728 million, versus the consensus of $730 million.

• Guidewire is issuing the following outlook for the second quarter of fiscal year 2021 based on current expectations:
  • ARR between $518 million and $521 million
  • Total revenue between $168 million and $172 million
  • Operating income (loss) between $(41) million and $(37) million
  • Non-GAAP operating income (loss) between $(5) million and $(1) million
• Guidewire is issuing the following outlook for fiscal year 2021 based on current expectations:
  • ARR between $560 million and $571 million
  • Total revenue between $723 million and $733 million
  • Operating income (loss) between $(147) million and $(137) million
  • Non-GAAP operating income (loss) between $(5) million and $5 million
  • Operating cash flow between $60 million and $70 million

For earnings history and earnings-related data on Guidewire Software (GWRE) click here.