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EX - 99.1 2 ex991q22021earningsrelease.htm EX - 99.1 Guidewire Software Announces Second Quarter Fiscal Year 2021 Financial Results SAN MATEO , Calif . , March 4 , 2021 - Guidewire Software , Inc. ( NYSE : GWRE ) , the platform Property and Casualty ( " P & C " ) insurers trust to engage , innovate , and grow efficiently , today announced its financial results for the fiscal quarter ended January 31 , 2021 . " We experienced strong sales activity in the quarter across our core , cloud and analytics offerings , highlighted by a new Tier 1 customer in Europe , " said Mike Rosenbaum , chief executive officer , Guidewire Software . " We also closed six cloud deals , five for InsuranceSuite and one for InsuranceNow , along with five standalone wins for our data and analytics solutions . " Second Quarter Fiscal Year 2021 Financial Highlights Revenue Exhibit 99.1 Total revenue for the second quarter of fiscal year 2021 was $ 180.1 million , an increase of 4 % from the same quarter in fiscal year 2020. Subscription and support revenue was $ 59.6 million , an increase of 20 % ; license revenue was $ 77.9 million , an increase of 2 % ; and services revenue was $ 42.6 million , a decrease of 10 % . Annual recurring revenue , or ARR , was $ 520 million as of January 31 , 2021 , compared to $ 514 million as of July 31 , 2020. ARR results for interim quarterly periods in fiscal year 2021 are based on currency exchange rates at the end of fiscal year 2020 , held constant throughout the year . Profitability GAAP loss from operations was $ 27.1 million for the second quarter of fiscal year 2021 , compared with $ 18.0 million for the comparable period in fiscal year 2020 . Non - GAAP income from operations was $ 7.5 million for the second quarter of fiscal year 2021 , compared with $ 15.4 million for the comparable period in fiscal year 2020 . GAAP net loss was $ 8.7 million for the second quarter of fiscal year 2021 , compared with $ 19.9 million for the comparable period in fiscal year 2020. GAAP net loss per share was $ 0.10 , based on diluted weighted average shares outstanding of 83.8 million , compared with $ 0.24 for the comparable period in fiscal year 2020 , based on diluted weighted average shares outstanding of 82.7 million . Non - GAAP net income was $ 9.0 million for the second quarter of fiscal year 021 , compared with $ 17.6 million for the comparable period in fiscal year 2020. Non - GAAP net income per share was $ 0.11 , based on diluted weighted average shares outstanding of 84.8 million , compared with $ 0.21 for the comparable period in fiscal year 2020 , based on diluted weighted average shares outstanding of 83.6 million . Liquidity The Company had $ 1.4 billion in cash , cash equivalents , and investments at both January 31 , 2021 and July 31 , 2020. The Company used $ 2.4 million in cash from operations and had negative free cash flow of $ 12.8 million during the six months ended January 31 , 2021 . The Company has used $ 42.7 million to repurchase shares of its common stock since July 31 , 2020 .