Guidewire announced its financial results for the fiscal quarter ended October 31, 2024, exceeding the high end of its guidance ranges for ARR, revenue, and profitability. The company reported nine Q1 cloud deals, including five with Tier-1 insurers, demonstrating strong market momentum.
Subscription and support revenue increased to $169.7 million, up from $127.6 million in Q1 fiscal year 2024. Total revenue reached $262.9 million, compared to $207.4 million in the prior year quarter. Non-GAAP gross margin for subscription and support was 70.3%, and non-GAAP operating income was $34.7 million.
Guidewire issued an updated outlook for fiscal year 2025, projecting ARR between $975 million and $985 million, and total revenue between $1.205 billion and $1.220 billion. Non-GAAP operating income is expected to be between $190 million and $200 million, reflecting disciplined operational execution.
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