By Davit Kirakosyan

Guidewire Software (NYSE 🙂 released its third quarter results. EPS came in at ($0.26) which was better than the consensus estimate. The consensus estimate for $187.72million was beaten by 20% growth in revenue year over year to $197.4m.

Subscriber and support revenue increased 34% to $86.9million, while services revenue rose 18% to $56.7 million. License revenue was up 6% to $53.9million.

Mike Rosenbaum, CEO, stated that “in the third quarter we exceeded our outlooks for revenue and ARR due to continued momentum for Guidewire Cloud. We closed another eight cloud deal in the quarter.” This momentum can be attributed to the incredible progress made with Guidewire Cloud, as well as the durability and resilience of our customers and the industry that we serve.

The Q4/22 revenue is expected to range from $226 to 232 millions, as opposed to $230 million. The ARR ranges from $668 to $774 million.

Company expects to generate revenue between $794 and $800 millions for 2022, as well as an average ARR of $668 to $6674 million.