NEW YORK - Guidewire Software Inc (NYSE:GWRE) reported better-than-expected first quarter results on Thursday, but shares fell 4% in after-hours trading as the company's guidance failed to excite investors.
The property and casualty insurance software provider posted adjusted earnings per share of $0.43, beating analyst estimates of $0.30. Revenue came in at $262.9 million, surpassing expectations of $254 million and rising 27% YoY.
"We achieved or exceeded the high end of our guidance ranges for ARR, revenue, and profitability, driven by nine Q1 cloud deals, including five at Tier-1 insurers," said Jeff Cooper, Chief Financial Officer of Guidewire.
For the second quarter, Guidewire forecasts revenue between $282 million and $288 million, above the consensus of $279.3 million. The company also raised its full-year 2025 revenue outlook to $1.155-1.167 billion, up from analyst projections of $1.143 billion.
"We continue to see great momentum as P&C insurers look to Guidewire to deliver the platform they trust to innovate and grow efficiently," said Mike Rosenbaum, Chief Executive Officer.
Guidewire ended the quarter with $874 million in annual recurring revenue, up from $864 million at the end of the previous quarter.
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