Guidewire Software Inc (NYSE:GWRE) stock rose 0.39% (As on September 7, 11:35:56 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 22. Subscription and support revenue was $93.6 million, an increase of 34%; services revenue was $56.2 million, an increase of 13%; and license revenue was $94.8 million, a decrease of 14%. Non-GAAP net income was $2.2 million for the fourth quarter of fiscal year 2022, compared with $31.1 million for the same quarter in fiscal year 2021. Non-GAAP income from operations was $5.3 million for the fourth quarter of fiscal year 2022, compared with $32.0 million for the same quarter in fiscal year 2021. The Company generated $83.6 million in cash from operations and had positive free cash flow of $79.0 million during the fourth quarter of fiscal year 2022. The Company had $1.2 billion in cash, cash equivalents, and investments at July 31, 2022, compared to $1.3 billion at July 31, 2021. The Company used $37.9 million in cash from operations during fiscal year 2022 and $43.8 million for the acquisition of HazardHub during the first quarter of fiscal year 2022.

GWRE in the fourth quarter of FY 22 has reported the adjusted earnings per share of 3 cents, beating the analysts’ estimates for the adjusted loss per share of 1 cents. The company had reported the adjusted revenue growth of 7 percent to $244.6 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $229.57 million.

Guidewire Software expects Q1 2023 revenue expects to be in the range of $190-195 million, versus the consensus of $187.7 million. For the first quarter of fiscal year 2023, the company expects ARR to be between $667 million and $670 million, Operating income (loss) between $(82) million and $(77) million and Non-GAAP operating income (loss) between $(45) million and $(40) million

Guidewire Software expects FY2023 revenue expects to be in the range of $885-895 million, versus the consensus of $882 million. For fiscal year 2023, the company expects ARR to be between $745 million and $760 million, Operating income (loss) between $(177) million and $(167) million, Non-GAAP operating income (loss) between $(30) million and $(20) million and Operating cash flow between $50 million and $80 million.