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Guidewire Software (GWRE) earnings and revenue breakdown

Latest: Q4 FY26 · 10-K filed Sep 11, 2026 · Guidewire Software (GWRE) Q4 FY26 earnings results →

Q4 FY26 Revenue up 15% year over year to $411M · 8¢ of every $1 of revenue kept as net profit · operating margin 15.2%

Guidewire Software made $411M in Q4 FY26 (+15% Y/Y): Subscription and support $267M, License $77.1M, Services $67.3M. Operating margin 15.2%, net earnings $31.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Sep 11, 2026.

Revenue$411M
Year over year+15%
Operating margin15.2%
Net earnings$31.4M
Operating cash flow$284M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $411.1M in Q4 FY26, up 15% year over year and up 10% from the previous quarter. Subscription was the largest line at 62% of revenue.

Gross margin was 65.6%, up 0.6 points from Q4 FY25. Operating profit was $62.3M, a 15.2% margin (up 6.9 points year over year). Of the extra revenue versus Q4 FY25, 60% reached operating profit, above the 8% margin then. Operating expenses grew 3% against revenue growth of 15%. Net earnings were $31.4M, down 40% year over year. The effective tax rate was 30.7%.

Operating cash flow was $283.9M (up 16% year over year), 904% of net earnings. Non-cash charges added back $7.3M of depreciation and amortization and $46.8M of share-based compensation. Working capital and other items added $198.4M. Capital expenditures of $2.1M left free cash flow of $281.8M.

Quarterly history

Guidewire Software revenue by quarterGuidewire Software revenue by quarter$289MQ2 FY25$294MQ3 FY25$357MQ4 FY25$333MQ1 FY26$359MQ2 FY26$373MQ3 FY26$411MQ4 FY26
Guidewire Software net earnings by quarterGuidewire Software net earnings by quarter−$37.3MQ2 FY25$46.0MQ3 FY25$52.0MQ4 FY25$31.3MQ1 FY26$60.1MQ2 FY26$16.5MQ3 FY26$31.4MQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY2610-KSep 11, 2026$411M+15%15.2%$31.4M$284M
Q3 FY2610-QJun 5, 2026$373M+27%8.2%$16.5M$61.2M
Q2 FY2610-QMar 6, 2026$359M+24%10.7%$60.1M$112M
Q1 FY2610-QDec 4, 2025$333M+26%5.6%$31.3M−$67.4M
Q4 FY2510-KSep 11, 2025$357M+22%8.3%$52.0M$245M
Q3 FY2510-QJun 4, 2025$294M+22%1.5%$46.0M$32.4M
Q2 FY2510-QMar 7, 2025$289M+20%4.0%−$37.3M$86.0M

Charts

Guidewire Software: revenue growth, year over year and quarter over quarterGuidewire Software: revenue growth, year over year and quarter over quarterY/YQ/Q+20%Q2 FY25+22%+1%Q3 FY25+22%+21%Q4 FY25+26%-7%Q1 FY26+24%+8%Q2 FY26+27%+4%Q3 FY26+15%+10%Q4 FY26
Latest (Q4 FY26): Y/Y +15%, Q/Q +10%.
Guidewire Software: where the cash came from (+) and went (−), FY26Guidewire Software: where the cash came from (+) and went (−), FY26Buybacks−$606MOperating cash flow$390MCash drawn (+) / kept (−)$326MOther investing−$86.0MAcquisitions−$38.0MOther financing$26.6MCapital spending−$12.1MExchange rates−$969KShares issued$729K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Guidewire Software: profit against cash, quarter by quarterGuidewire Software: profit against cash, quarter by quarterNet incomeOperating cash flow$9.1M−$62.3MQ1 FY25−$37.3M$86.0MQ2 FY25$46.0M$32.4MQ3 FY25$52.0M$245MQ4 FY25$31.3M−$67.4MQ1 FY26$60.1M$112MQ2 FY26$16.5M$61.2MQ3 FY26$31.4M$284MQ4 FY26
Latest (Q4 FY26): Net income $31.4M, Operating cash flow $284M.
Guidewire Software: diluted shares by fiscal yearGuidewire Software: diluted shares by fiscal year84MFY2184MFY2282MFY2382MFY2486MFY2585MFY26
+2.2% since FY21: more shares outstanding (issuance, stock pay).
Guidewire Software: long-term debt falling due (FY26)Guidewire Software: long-term debt falling due (FY26)$8.6M2027$8.6M2028$8.6M2029$694M2030
Cash $373M, short-term investments $380M, long-term debt — at 2026-07-31.
Guidewire Software in its industry: growth against margin (192 companies, SIC 7372)Guidewire Software in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXPTCTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYGWRE (+15%, 15%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Guidewire Software

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 foundational core products, InsuranceSuite and InsuranceNow, are delivered as a cloud-based subscription service leveraging our proprietary cloud platform which we refer to as Guidewire Cloud Platform (“GWCP”). These products serve as transactional systems of record, fully supporting insurance operations, including product definition, pricing and rating, underwriting, policy administration, billing, and claims management.

In its own words, from its 10-K, filed Sep 11, 2026.

Guidewire Software against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +15% against the peers' median +15%. Operating margin: 15.2% against the peers' median 15.2%.

CompanyQuarterRevenueY/YOp. margin
GWRE Guidewire SoftwareQ4 FY26$411M+15%15.2%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: Guidewire Software 10-K on SEC EDGAR · CIK 1528396 · Services-Prepackaged Software

Guidance and outlook

Guidewire Software Revenue: guidance against what was reportedGuidewire Software Revenue: guidance against what was reportedguided rangereported (above / within / below)Q3 FY25$294MFY25$1.2BQ4 FY25$357MQ1 FY26$333MQ2 FY26$359MQ3 FY26$373MFY26$1.5BQ4 FY26$411M
Met or beat 9 of 9 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
Guidewire Software GAAP operating income: guidance against what was reportedGuidewire Software GAAP operating income: guidance against what was reportedguided rangereported (above / within / below)Q2 FY26$38.4MQ3 FY26$30.6MFY26$150MQ4 FY26$62.3M
Met or beat 4 of 4 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns GWRE and who is buying

Largest holders of GWRE (13F)Largest holders of GWRE (13F)Vanguard Group$1.8BBamco$1.1BBlackRock$1.1BLinonia Partnership LP$853MVanguard Portfolio Management LLC$555MVanguard Capital Management LLC$473MDarsana Capital Partners LP$468MState Street$330MMassachusetts Financial Services$250MRoute One Investment Company, L.P.$228M
Funds' net buying of GWRE by quarter (13F)Funds' net buying of GWRE by quarter (13F)−$915M2024-09−$576M2024-12$435M2025-03−$119M2025-06−$141M2025-09$1.7M2025-12$469M2026-03−$285M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on GWRE

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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中文版：Guidewire Software（GWRE）财报

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