Guidewire Software Inc. (GWRE) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.74	$0.82	+10.8%	—	$372.5M	—
Q2 26	$0.77	$1.17	+51.9%	—	$359.1M	—
Q1 26	$0.61	$0.66	+8.2%	—	$332.6M	—
Q4 25	$0.63	$0.84	+33.3%	—	$356.6M	—
Q3 25	$0.47	$0.88	+87.2%	—	$293.5M	—
Q2 25	$0.51	$0.51	0.0%	—	$289.5M	—
Q1 25	$0.3	$0.43	+43.3%	—	$262.9M	—
Q4 24	$0.54	$0.62	+14.8%	—	$291.5M	—
Q3 24	$0.13	$0.26	+100.0%	—	$240.7M	—
Q2 24	$0.23	$0.46	+100.0%	—	$240.9M	—
Q4 23	$0.37	$0.74	+100.0%	—	$270M	—
Q3 23	-$0.14	-$0.08	+42.9%	—	$207.5M	—
Q2 23	-$0.03	-$0.21	-600.0%	—	$232.6M	—
Q1 23	-$0.39	-$0.12	+69.2%	—	$195.3M	—
Q4 22	-$0.01	$0.03	+400.0%	—	$244.6M	—
Q3 22	-$0.28	-$0.26	+7.1%	—	$197.4M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.83	—	—	$1.2B	—
FY24	—	-$0.07	—	—	$980.5M	—
FY23	—	-$1.36	—	—	$905.3M	—
FY22	—	-$2.16	—	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$424.4M	$509.5M	$652.8M	$719.5M	$742.3M	$743.3M	$812.6M	$905.3M	$980.5M	$1.2B
YoY change	+11.5%	+20%	+28.1%	+10.2%	+3.17%	+0.13%	+9.33%	+11.4%	+8.3%	+22.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	424.4M	509.5M	652.8M	719.5M	742.3M	743.3M	812.6M	905.3M	980.5M	1.2B
Cost of revenue	151.8M	191.6M	296.8M	324.4M	338M	353.7M	435.4M	447.1M	397.1M	450.4M
Gross profit	272.6M	318M	356.1M	395.2M	404.3M	389.6M	377.2M	458.2M	583.4M	752.1M
Gross margin	64.2%	62.4%	54.5%	54.9%	54.5%	52.4%	46.4%	50.6%	59.5%	62.5%
Research & development	112.5M	130.3M	171.7M	188.5M	200.6M	201.5M	229.2M	249.7M	269.4M	296.2M
Selling, general & administrative	143.7M	165.8M	200M	205.2M	227.6M	293.7M	347.4M	358M	366.6M	414.8M
Operating expenses	256.2M	296.1M	371.7M	393.7M	428.2M	495.1M	576.6M	607.7M	635.9M	711M
Operating income	16.4M	21.9M	-15.6M	1.5M	-23.9M	-105.6M	-199.4M	-149.5M	-52.6M	41.1M
Operating margin	3.87%	4.29%	-2.39%	0.2%	-3.22%	-14.2%	-24.5%	-16.5%	-5.36%	3.42%
Non-operating income, net	-505K	811K	509K	-1.9M	-7.2M	12.6M	-17.1M	-2.3M	-11M	-35.1M
Pretax income	20.8M	28.5M	-8.3M	12.5M	-24.3M	-104.3M	-229.7M	-134.1M	-26.8M	49.4M
Income tax	5.8M	10.5M	18.5M	-8.3M	2.9M	-37.8M	-49.3M	-22.2M	-20.7M	-20.4M
Net income	15M	18.1M	-26.7M	20.7M	-27.2M	-66.5M	-180.4M	-111.9M	-6.1M	69.8M
Net margin	3.53%	3.55%	-4.1%	2.88%	-3.66%	-8.95%	-22.2%	-12.4%	-0.62%	5.81%
EBITDA	29.6M	47.3M	33.8M	69.7M	36.3M	-48.6M	-176.7M	-102.5M	2.2M	86.4M
EPS	0.21	0.29	-0.25	0.25	-0.33	-0.79	-2.16	-1.36	-0.07	0.83
Diluted EPS	0.2	0.28	-0.25	0.25	-0.33	-0.79	-2.16	-1.36	-0.07	0.81

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	270M	207.4M	240.9M	240.7M	291.5M	262.9M	289.5M	293.5M	356.6M	332.6M	359.1M	372.5M
Cost of revenue	106.3M	95.1M	98.5M	98.5M	105.1M	104.5M	110.3M	110.8M	124.8M	123.1M	127.6M	135.9M
Gross profit	163.7M	112.3M	142.4M	142.2M	186.4M	158.4M	179.2M	182.7M	231.8M	209.5M	231.5M	236.6M
Gross margin	60.6%	54.1%	59.1%	59.1%	64%	60.2%	61.9%	62.2%	65%	63%	64.5%	63.5%
Research & development	66.8M	62.5M	65.5M	66.1M	75.3M	68.9M	70.3M	72.9M	84.1M	78.3M	83.3M	87.9M
Selling, general & administrative	90.8M	83.6M	89.4M	92.8M	100.8M	94.2M	97.2M	105.3M	118.1M	112.7M	109.8M	118.1M
Operating expenses	157.6M	146.1M	154.8M	158.9M	176.1M	163.1M	167.4M	178.2M	202.2M	191M	193.1M	206M
Operating income	6.1M	-33.8M	-12.4M	-16.7M	10.3M	-4.7M	11.7M	4.5M	29.6M	18.5M	38.4M	30.6M
Operating margin	2.26%	-16.3%	-5.15%	-6.94%	3.54%	-1.8%	4.05%	1.52%	8.3%	5.55%	10.7%	8.22%
Non-operating income, net	3.6M	-13.7M	10.8M	-6.5M	-1.5M	-4.1M	-66.3M	34.1M	1.2M	-5.3M	27M	-18.9M
Pretax income	15.8M	-38.6M	7M	-14.1M	18.9M	2.8M	-43M	48.7M	41M	24.5M	74.6M	19.8M
Income tax	3.5M	-11.5M	-2.7M	-8.6M	2.1M	-6.4M	-5.8M	2.7M	-11M	-6.8M	14.4M	3.3M
Net income	12.2M	-27.1M	9.7M	-5.5M	16.8M	9.1M	-37.3M	46M	52M	31.3M	60.1M	16.5M
Net margin	4.53%	-13.1%	4.02%	-2.28%	5.75%	3.48%	-12.9%	15.7%	14.6%	9.41%	16.7%	4.42%
EBITDA	22.4M	-31.5M	14.1M	-6.8M	26.3M	10.7M	-33.1M	58.3M	50.5M	34.2M	84.9M	30.3M
EPS	0.15	-0.33	0.12	-0.07	0.2	0.11	-0.45	0.55	0.62	0.37	0.71	0.2
Diluted EPS	0.15	-0.33	0.12	-0.07	0.2	0.11	-0.45	0.54	0.6	0.36	0.7	0.19

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.4B	5.3B	6.7B	8.3B	9.7B	9.6B	6.5B	7B	12.3B	19B	11.9B
Enterprise value	3.8B	4.8B	5.9B	7.5B	9.1B	9B	6B	6.6B	11.8B	18.5B	11.9B
Shares outstanding	72M	74M	77.7M	81.4M	82.9M	83.6M	83.6M	82.2M	82.3M	83.8M	83.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	295.6	295.5	—	401	—	—	—	—	—	271.7	89.1
P/S	10.4	10.5	10.3	11.6	13.1	13	7.99	7.7	12.6	15.8	8.07
P/B	5.65	6.01	4.74	5.28	5.88	6.23	4.47	5.81	9.2	13	9.97
EV/EBITDA	128.2	100.8	175.8	107.6	250.3	-184.7	-33.9	-64.6	5.3K	214.6	72.6
EV/Sales	8.95	9.35	9.09	10.4	12.2	12.1	7.38	7.31	12	15.4	8.05
Earnings yield	0.34%	0.34%	—	0.25%	—	—	—	—	—	0.37%	1.12%
FCF yield	2.1%	2.47%	1.92%	0.81%	0.9%	0.86%	-0.92%	0.3%	1.44%	1.48%	2.88%
PEG	—	—	—	—	—	—	—	—	—	—	-1.4

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	64.2%	62.4%	54.5%	54.9%	54.5%	52.4%	46.4%	50.6%	59.5%	62.5%	63.5%
Operating margin	3.87%	4.29%	-2.39%	0.2%	-3.22%	-14.2%	-24.5%	-16.5%	-5.36%	3.42%	15.2%
Net margin	3.53%	3.55%	-4.1%	2.88%	-3.66%	-8.95%	-22.2%	-12.4%	-0.62%	5.81%	9.44%
ROE	1.91%	2.03%	-1.89%	1.32%	-1.64%	-4.3%	-12.4%	-9.33%	-0.45%	4.79%	10.5%
ROA	1.63%	1.68%	-1.35%	0.96%	-1.15%	-2.86%	-7.96%	-5.52%	-0.27%	2.57%	3.54%
ROIC	7.61%	4.39%	-2.4%	0.19%	-2.43%	-11.8%	-21%	-17.6%	-6.72%	4.01%	9.21%
Return on tangible assets	1.81%	2.77%	-2.41%	1.53%	-1.7%	-4.16%	-12.2%	-8.92%	-0.42%	3.66%	9.64%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	5.94	4.03	5.13	5.75	5.96	4.51	3.71	2.95	1.55	2.77	1.79
Quick ratio	5.94	4.03	5.13	5.75	5.96	4.51	3.71	2.95	1.55	2.77	2.44
Debt / equity	—	—	0.22	0.2	0.28	0.3	0.33	0.37	0.33	0.49	0.6
Debt / assets	—	—	0.15	0.15	0.19	0.2	0.21	0.22	0.2	0.26	0.28
Net debt / EBITDA	—	—	-22.6	-11.6	-18.6	13.3	2.83	3.41	-253.8	-5.02	-0.23
Interest coverage	—	2.2K	-0.28	1.72	-0.36	-4.57	-10.8	-19	-2.98	4.74	13
Effective tax rate	27.9%	36.6%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	5.89	6.89	8.4	8.83	8.96	8.89	9.72	11	11.9	14.3	17.5
EPS (basic)	0.21	0.29	-0.25	0.25	-0.33	-0.79	-2.16	-1.36	-0.07	0.83	0.83
EPS (diluted)	0.2	0.28	-0.25	0.25	-0.33	-0.79	-2.16	-1.36	-0.07	0.81	1.63
Book value per share	10.9	12	18.2	19.3	20	18.5	17.4	14.6	16.3	17.4	14.6
FCF per share	1.29	1.79	1.65	0.83	1.05	0.99	-0.71	0.26	2.15	3.34	3.76
Cash per share	8.72	7.75	13.7	13.8	13.7	13.4	11.7	9.72	12.2	13.7	9.48
Capex per share	0.1	0.08	0.12	0.55	0.26	0.23	0.11	0.07	0.08	0.18	0.21

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.68%	1.16%	1.44%	6.24%	2.88%	2.56%	1.17%	0.64%	0.65%	1.22%	1.24%
Capex / operating cash flow	6.63%	4%	7%	34.3%	15.5%	23.8%	-78.2%	11%	2.71%	4.89%	5.04%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$270M	$207.4M	$240.9M	$240.7M	$291.5M	$262.9M	$289.5M	$293.5M	$356.6M	$332.6M	$359.1M	$372.5M
YoY change	+10.4%	+6.21%	+3.56%	+16%	+7.99%	+26.8%	+20.2%	+22%	+22.3%	+26.5%	+24%	+26.9%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	628.2M	573.2M	1.1B	1.1B	1.1B	1.1B	976.2M	798.7M	1B	1.1B
Receivables	62.8M	79.4M	124.8M	138.4M	114.2M	104.1M	143.8M	151M	137.3M	140.6M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	707.7M	679.2M	1.2B	1.3B	1.3B	1.4B	1.3B	1.1B	1.3B	1.5B
Property, plant & equipment	13M	14.4M	22.9M	76.3M	169M	177.5M	171M	106.9M	99.2M	99.7M
Goodwill & intangibles	88.6M	426.3M	873.1M	814.8M	761.2M	721.2M	787.1M	773.4M	762.4M	812M
Total assets	916.2M	1.1B	2B	2.2B	2.4B	2.3B	2.3B	2B	2.2B	2.7B
Accounts payable	9.9M	13.4M	30.6M	34.3M	22.6M	27.8M	40.4M	34.6M	15.2M	28.8M
Short-term debt	—	—	—	—	10.9M	11.6M	12.2M	8.4M	408.2M	10.4M
Total current liabilities	119.1M	168.4M	238.2M	232.3M	225.2M	300.3M	337.5M	373.3M	837.6M	544.8M
Long-term debt	—	—	305.1M	317.3M	449.6M	459.2M	463.3M	440.1M	34.7M	705.3M
Total liabilities	132.2M	190.4M	567.8M	592.8M	708.1M	777M	815.2M	828.4M	883.6M	1.3B
Shareholders' equity	783.9M	888.5M	1.4B	1.6B	1.7B	1.5B	1.5B	1.2B	1.3B	1.5B
Total debt	—	—	305.1M	317.3M	460.6M	470.8M	475.6M	448.6M	442.9M	715.7M
Net debt	—	—	-132M	63.2M	93.6M	85.9M	-130.7M	46.8M	-105.1M	17.8M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	798.7M	712.9M	777.6M	782.3M	1B	1.3B	1.2B	920.4M	1.1B	1B	919.2M	749.5M
Receivables	151M	93.1M	128.2M	104.3M	137.3M	97.5M	123M	147.3M	140.6M	94.6M	162.9M	138.9M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	1.1B	976.8M	1.1B	1.1B	1.3B	1.6B	1.5B	1.3B	1.5B	1.4B	1.3B	1.2B
Property, plant & equipment	106.9M	105.7M	103.4M	101.3M	99.2M	97.2M	97.2M	97.3M	99.7M	102.8M	102.7M	103.1M
Goodwill & intangibles	773.4M	770.6M	767.9M	765.2M	762.4M	759.7M	757.1M	814.1M	812M	810M	883.9M	877.7M
Total assets	2B	1.9B	2B	2B	2.2B	2.6B	2.5B	2.5B	2.7B	2.6B	2.7B	2.5B
Accounts payable	34.6M	19.2M	22M	23.5M	15.2M	31.4M	24.9M	29M	28.8M	33.6M	28.9M	35M
Short-term debt	8.4M	—	—	398.5M	408.2M	278.6M	179M	—	10.4M	—	—	—
Total current liabilities	373.3M	262.4M	307.1M	704.8M	837.6M	615.2M	558.7M	405.9M	544.8M	389.9M	459M	497.2M
Long-term debt	440.1M	438.5M	437.1M	37.1M	34.7M	704.8M	706.8M	706.7M	705.3M	704.5M	705M	704.2M
Total liabilities	828.4M	713.9M	757.4M	754.7M	883.6M	1.3B	1.3B	1.1B	1.3B	1.1B	1.2B	1.2B
Shareholders' equity	1.2B	1.2B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.5B	1.5B	1.5B	1.3B
Total debt	448.6M	438.5M	437.1M	435.6M	442.9M	983.3M	885.8M	706.7M	715.7M	704.5M	705M	704.2M
Net debt	46.8M	137.1M	87.1M	76M	-105.1M	159.8M	188.3M	196.4M	17.8M	212.5M	297.1M	409.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	15M	18.1M	-26.7M	20.7M	-27.2M	-66.5M	-180.4M	-111.9M	-6.1M	69.8M
Depreciation & amortization	8.8M	18.7M	35.6M	40M	42.6M	37M	33.5M	24.8M	22.3M	23.8M
Stock-based compensation	66.1M	71.8M	89.6M	91.5M	101.8M	115M	137M	142.8M	146.5M	161.6M
Change in working capital	22.7M	39.7M	17.2M	-24.9M	9.2M	4.4M	22.9M	-3.9M	79.8M	28.4M
Operating cash flow	107.3M	147.1M	134.3M	131.2M	138.1M	80M	-12.2M	52.8M	235M	300.9M
Capital expenditure	-7.1M	-5.9M	-9.4M	-44.9M	-21.4M	-19M	-9.5M	-5.8M	-6.4M	-14.7M
Investing cash flow	-101.3M	-112.6M	-535M	-297.5M	-1.5M	74M	324.5M	24.3M	-40.2M	-231.2M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	0	0	-161.3M	-37.5M	-261.8M	0	0
Financing cash flow	5.6M	7.5M	571M	0	0	-161.3M	-37.5M	-261.8M	0	78.4M
Net change in cash	11.6M	42M	170.3M	-166.3M	136.6M	-7.3M	274.9M	-184.7M	194.8M	148M
Free cash flow	92.8M	132.1M	128.4M	67.3M	87.4M	82.7M	-59.7M	21M	177.2M	280.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	12.2M	-27.1M	9.7M	-5.5M	16.8M	9.1M	-37.3M	46M	52M	31.3M	60.1M	16.5M
Depreciation & amortization	4.9M	5.4M	5.5M	5.6M	5.8M	5.8M	5.7M	6M	6.2M	6.4M	7M	7.2M
Stock-based compensation	36.5M	36.1M	36.4M	36.6M	37.3M	38.1M	40.9M	40.4M	42.2M	43.3M	46.8M	44.9M
Change in working capital	90.6M	-13.9M	13.1M	-25.6M	106M	-48.5M	26.4M	-78.9M	129.5M	-75.8M	-21.6M	-28.6M
Operating cash flow	153.7M	-8.1M	65.7M	3.8M	173.7M	2.6M	32.5M	12.2M	244.8M	-67.4M	112M	61.2M
Capital expenditure	-3.2M	-998K	-3M	-678K	-1.7M	-843K	-790K	-703K	-3.7M	-5.1M	-3.1M	-5.7M
Investing cash flow	11.6M	-24.1M	-21.1M	9.5M	-4.6M	-73.4M	-50M	-44.2M	-55M	-133.9M	-29.3M	72.9M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-47.8M	0	0	0	0	—	—	—	—	—	—	-244.3M
Financing cash flow	-47.8M	0	0	0	0	413.6M	-156.1M	-179.1M	0	0	0	-244.3M
Net change in cash	117.5M	-32.2M	44.6M	13.3M	169.1M	342.8M	-173.6M	-211.1M	189.8M	-201.3M	82.8M	-110.2M
Free cash flow	167.3M	-76.8M	63.9M	754K	189.3M	-67.4M	82.3M	27.8M	237.7M	-77.4M	105.7M	53.7M

Guidewire Software Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement