Filing Flows › Guidewire Software (GWRE) › Q4 FY26 › vs Q3 FY26
Guidewire Software (GWRE) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Guidewire Software's revenue rose $38.5M (+10%) from $373M in Q3 FY26 to $411M in Q4 FY26. The biggest changes: Subscription and support +$22.0M (+9%); License +$21.1M (+38%); Services −$4.5M (-6%). Gross margin 65.6% against 63.5% (+2.1 pts).
Guidewire Software, Q4 FY26: revenue $411M (+15% year over year), operating margin 15.2%, net earnings $31.4M, operating cash flow $284M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 65.6% | 63.5% | +2.1 pts |
| Operating margin | 15.2% | 8.2% | +6.9 pts |
| Net margin | 7.6% | 4.4% | +3.2 pts |
| Free cash flow margin | 68.5% | 15.9% | +52.6 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Subscription | $253M | $232M | $21.4M | +9% |
| Support | $13.3M | $12.6M | $646K | +5% |
| Subscription and support | $267M | $245M | $22.0M | +9% |
| License | $77.1M | $56.0M | $21.1M | +38% |
| Services | $67.3M | $71.8M | −$4.5M | -6% |
| Revenue | $411M | $373M | $38.5M | +10% |
| Gross profit | $270M | $237M | $33.0M | +14% |
| Cost of revenue | $141M | $136M | $5.5M | +4% |
| Operating profit | $62.3M | $30.6M | $31.7M | +103% |
| Operating expenses | $207M | $206M | $1.4M | +0.7% |
| Pre-tax earnings | $45.3M | $19.8M | $25.5M | +129% |
| Other expense, net | $17.0M | $10.9M | $6.1M | +56% |
| Research & development | $90.6M | $87.9M | $2.7M | +3% |
| Sales & marketing | $65.0M | $68.2M | −$3.2M | -5% |
| General & admin | $51.8M | $49.9M | $1.8M | +4% |
| Net earnings | $31.4M | $16.5M | $14.9M | +91% |
| Income tax | $13.9M | $3.3M | $10.6M | +323% |
| Depreciation & amortization | $7.3M | $7.2M | $90K | +1% |
| Share-based compensation | $46.8M | $44.9M | $1.8M | +4% |
| Working capital & other | $198M | −$7.5M | $206M | — |
| Operating cash flow | $284M | $61.2M | $223M | +364% |
| Free cash flow (OCF − capex) | $282M | $59.4M | $222M | +374% |
| Capital expenditures | $2.1M | $1.8M | $350K | +20% |
Questions
How much did Guidewire Software's revenue grow quarter over quarter in Q4 FY26?
Guidewire Software's revenue rose $38.5M (+10%) from $373M in Q3 FY26 to $411M in Q4 FY26.
What drove Guidewire Software's revenue change in Q4 FY26?
Subscription and support +$22.0M (+9%); License +$21.1M (+38%); Services −$4.5M (-6%).