Guidewire Software, Inc. GWRE
Guidewire is the platform that property and casualty ("P&C") insurers rely on to engage with customers, innovate, and operate more efficiently. Founded in 2001, we serve insurers of all sizes, ranging from global carriers to regional and local providers, helping them navigate a rapidly changing insurance market.
Our platform combines core systems of record with digital, analytics, and artificial intelligence ("AI") capabilities. Our foundational core products, InsuranceSuite and InsuranceNow, are delivered primarily as a cloud-based subscription service leveraging our proprietary cloud platform which we refer to as Guidewire Cloud Platform ("GWCP"). Historically, InsuranceSuite has also been available for self-managed installations. These products serve as transactional systems of record, fully supporting insurance operations, including product definition, policy administration, claims management and billing.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.20B | $980.5M | $905.3M | $812.6M | $743.3M | $742.3M | $719.5M | $652.8M | $509.5M | $424.4M |
| Cost of revenue | $450.4M | $397.1M | $447.1M | $435.4M | $353.7M | $338.0M | $324.4M | $296.8M | $191.6M | $151.8M |
| Gross profit | $752.1M | $583.4M | $458.2M | $377.2M | $389.6M | $404.3M | $395.2M | $356.1M | $318.0M | $272.6M |
| R&D | $296.2M | $269.4M | $249.7M | $229.2M | $201.5M | $200.6M | $188.5M | $171.7M | $130.3M | $112.5M |
| SG&A | $184.5M | $167.5M | $169.7M | $164.8M | $143.2M | $85.2M | $74.4M | $75.9M | $56.6M | $50.9M |
| Total operating expenses | $711.0M | $635.9M | $607.7M | $576.6M | $495.1M | $428.2M | $393.7M | $371.7M | $296.1M | $256.2M |
| Operating income | $41.1M | -$52.6M | -$149.5M | -$199.4M | -$105.6M | -$23.9M | $1.5M | -$15.6M | $21.9M | $16.4M |
| Interest expense | $13.2M | $6.7M | $6.7M | $19.4M | $18.7M | $17.9M | $17.3M | $6.4M | $13.0K | $0 |
| Pre-tax income | $49.4M | -$26.8M | -$134.1M | -$229.7M | -$104.3M | -$24.3M | $12.5M | -$8.3M | $28.5M | $20.8M |
| Income tax | $20.4M | $20.7M | $22.2M | $49.3M | $37.8M | $2.9M | $8.3M | $18.5M | $10.5M | $5.8M |
| Net income | $69.8M | -$6.1M | -$111.9M | -$180.4M | -$66.5M | -$27.2M | $20.7M | -$26.7M | $18.1M | $15.0M |
| EPS, basic | 0.83 | -0.07 | -1.36 | -2.16 | -0.79 | -0.33 | 0.25 | -0.34 | 0.24 | 0.21 |
| EPS, diluted | 0.81 | -0.07 | -1.36 | -2.16 | -0.79 | -0.33 | 0.25 | -0.34 | 0.24 | 0.20 |
| Shares, diluted (wtd. avg.) | $85.9M | $82.3M | $82.2M | $83.6M | $83.6M | $82.9M | $82.7M | $77.7M | $75.3M | $73.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $697.9M | $548.0M | $406.8M | $614.7M | $384.9M | $367.0M | $254.1M | $437.1M | $263.2M | $223.6M |
| Short-term investments | $451.5M | $455.6M | $396.9M | $369.9M | $734.5M | $766.5M | $870.1M | $630.0M | $310.0M | $404.7M |
| Receivables | $140.6M | $137.3M | $151.0M | $143.8M | $104.1M | $114.2M | $138.4M | $124.8M | $79.4M | $62.8M |
| Total current assets | $1.51B | $1.30B | $1.10B | $1.25B | $1.36B | $1.34B | $1.33B | $1.22B | $679.2M | $707.7M |
| Property, plant and equipment | $60.4M | $55.4M | $54.5M | $80.7M | $80.1M | $65.2M | $65.8M | $18.6M | $14.4M | $13.0M |
| Goodwill | $394.0M | $372.2M | $372.2M | $372.2M | $31.3M | $340.9M | $340.9M | $340.9M | $141.9M | $30.1M |
| Other intangibles | $12.0M | $9.0M | $14.5M | $21.4M | $19.7M | $39.7M | $66.5M | $95.7M | $71.3M | $14.2M |
| Total assets | $2.72B | $2.23B | $2.03B | $2.27B | $2.32B | $2.36B | $2.17B | $1.98B | $1.08B | $916.2M |
| Accounts payable | $28.8M | $15.2M | $34.6M | $40.4M | $27.8M | $22.6M | $34.3M | $30.6M | $13.4M | $9.9M |
| Total current liabilities | $544.8M | $837.6M | $373.3M | $337.5M | $300.3M | $225.2M | $232.3M | $238.2M | $168.4M | $119.1M |
| Long-term debt | — | $398.9M | $397.2M | $358.2M | $343.8M | $330.2M | $317.3M | $305.1M | — | — |
| Total liabilities | $1.26B | $883.6M | $828.4M | $815.2M | $777.0M | $708.1M | $592.8M | $567.8M | $190.4M | $132.2M |
| Retained earnings | -$554.2M | -$624.1M | -$618.0M | -$284.0M | -$66.1M | $163.0M | $190.0M | $125.0M | $65.9M | $47.8M |
| Total equity | $1.46B | $1.34B | $1.20B | $1.45B | $1.54B | $1.66B | $1.57B | $1.41B | $888.5M | $783.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $300.9M | $195.7M | $38.4M | -$37.9M | $111.6M | $113.1M | $116.1M | $140.5M | $138.8M | $99.9M |
| Depreciation and amortisation | $7.2M | $6.9M | $36.3M | $14.0M | $14.0M | $14.5M | $9.7M | $7.7M | $6.6M | $6.5M |
| Stock-based compensation | $161.6M | $146.5M | $142.8M | $137.0M | $115.0M | $101.8M | $91.5M | $89.6M | $71.8M | $66.1M |
| Capital expenditure | $5.7M | $6.4M | $5.8M | $9.5M | $19.0M | $21.4M | $44.9M | $9.4M | $5.9M | $7.1M |
| Investing cash flow | -$237.0M | -$52.4M | $12.7M | $312.2M | $64.2M | -$5.8M | -$301.4M | -$537.6M | -$113.3M | -$101.3M |
| Financing cash flow | $82.3M | $1.1M | -$261.6M | -$37.3M | -$159.4M | $5.0M | $4.0M | $573.0M | $13.0M | $13.5M |
| Buybacks | $0 | $0 | $261.8M | $37.5M | $161.3M | $0 | $0 | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001528396-25-000221.
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