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10-Q Filing

Guidewire Software, Inc. CIK: 1528396 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001528396-19-000058
Period End Date 20191031
Filing Date 20191206
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance gwre-20191031_htm.xml
Balance Sheet 64 line items
Line Item Tag Value Unit Period
Allowance for accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $1.32M USD Point-in-time
Allowance for accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $1.44M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $179.09M USD Point-in-time
Short-term investments ShortTermInvestments $870.14M USD Point-in-time
Short-term investments ShortTermInvestments $832.13M USD Point-in-time
Accounts receivable, net of allowances of $1,319 and $1,441, respectively AccountsReceivableNetCurrent $138.44M USD Point-in-time
Accounts receivable, net of allowances of $1,319 and $1,441, respectively AccountsReceivableNetCurrent $79.48M USD Point-in-time
Unbilled accounts receivable, net ContractWithCustomerAssetNetCurrent $59.78M USD Point-in-time
Unbilled accounts receivable, net ContractWithCustomerAssetNetCurrent $36.73M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $39.25M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $35.57M USD Point-in-time
Total current assets AssetsCurrent $1.33B USD Point-in-time
Total current assets AssetsCurrent $1.19B USD Point-in-time
Long-term investments LongTermInvestments $300.80M USD Point-in-time
Long-term investments LongTermInvestments $213.52M USD Point-in-time
Unbilled accounts receivable, net ContractWithCustomerAssetNetNoncurrent $9.38M USD Point-in-time
Unbilled accounts receivable, net ContractWithCustomerAssetNetNoncurrent $9.43M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $65.81M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $67.44M USD Point-in-time
Operating lease assets OperatingLeaseRightOfUseAsset $90.67M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $59.38M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $66.54M USD Point-in-time
Goodwill Goodwill $340.88M USD Point-in-time
Goodwill Goodwill $340.88M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsLiabilitiesNet $97.39M USD Point-in-time
Deferred tax assets, net DeferredTaxAssetsLiabilitiesNet $90.31M USD Point-in-time
Other assets OtherAssetsNoncurrent $43.32M USD Point-in-time
Other assets OtherAssetsNoncurrent $45.55M USD Point-in-time
Other assets OtherAssetsNoncurrent $45.55M USD Point-in-time
TOTAL ASSETS Assets $2.20B USD Point-in-time
TOTAL ASSETS Assets $2.17B USD Point-in-time
Accounts payable AccountsPayableCurrent $34.26M USD Point-in-time
Accounts payable AccountsPayableCurrent $25.67M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $73.36M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $33.49M USD Point-in-time
Deferred revenue, net ContractWithCustomerLiabilityCurrent $108.30M USD Point-in-time
Deferred revenue, net ContractWithCustomerLiabilityCurrent $85.84M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $16.35M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $19.68M USD Point-in-time
Total current liabilities LiabilitiesCurrent $164.69M USD Point-in-time
Total current liabilities LiabilitiesCurrent $232.27M USD Point-in-time
Lease liabilities OperatingLeaseLiabilityNoncurrent $105.62M USD Point-in-time
Convertible senior notes, net SeniorNotes $317.32M USD Point-in-time
Convertible senior notes, net SeniorNotes $320.48M USD Point-in-time
Deferred revenue, net ContractWithCustomerLiabilityNoncurrent $23.53M USD Point-in-time
Deferred revenue, net ContractWithCustomerLiabilityNoncurrent $21.28M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $19.64M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $1.44M USD Point-in-time
Total liabilities Liabilities $613.50M USD Point-in-time
Total liabilities Liabilities $592.76M USD Point-in-time
Common stock CommonStockValue $8.00K USD Point-in-time
Common stock CommonStockValue $8.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.42B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $1.39B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-7.76M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-6.68M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $190.05M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $175.16M USD Point-in-time
Total stockholders equity StockholdersEquity $1.59B USD Point-in-time
Total stockholders equity StockholdersEquity $1.41B USD Point-in-time
Total stockholders equity StockholdersEquity $1.57B USD Point-in-time
Total stockholders equity StockholdersEquity $1.49B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $2.17B USD Point-in-time
Liabilities and Equity, Total LiabilitiesAndStockholdersEquity $2.20B USD Point-in-time
Income Statement 42 line items
Line Item Tag Value Unit Period
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $157.01M USD 1 Quarter
Total revenue RevenueFromContractWithCustomerExcludingAssessedTax $180.25M USD 1 Quarter
Total cost of revenue CostOfGoodsAndServicesSold $81.61M USD 1 Quarter
Total cost of revenue CostOfGoodsAndServicesSold $80.86M USD 1 Quarter
License and subscription LicenseGrossProfit $58.63M USD 1 Quarter
License and subscription LicenseGrossProfit $81.35M USD 1 Quarter
Maintenance MaintenanceGrossProfit $17.28M USD 1 Quarter
Maintenance MaintenanceGrossProfit $17.14M USD 1 Quarter
Services ServicesGrossProfit $250.00K USD 1 Quarter
Services ServicesGrossProfit $162.00K USD 1 Quarter
Total gross profit GrossProfit $98.65M USD 1 Quarter
Total gross profit GrossProfit $76.15M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $45.50M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $46.50M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $33.02M USD 1 Quarter
Sales and marketing SellingAndMarketingExpense $32.32M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $21.24M USD 1 Quarter
General and administrative GeneralAndAdministrativeExpense $18.34M USD 1 Quarter
Total operating expenses OperatingExpenses $100.75M USD 1 Quarter
Total operating expenses OperatingExpenses $96.16M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $-24.60M USD 1 Quarter
Income (loss) from operations OperatingIncomeLoss $2.49M USD 1 Quarter
Interest income InterestIncomeNonoperatingNet $7.64M USD 1 Quarter
Interest income InterestIncomeNonoperatingNet $6.85M USD 1 Quarter
Interest expense InterestExpense $4.24M USD 1 Quarter
Interest expense InterestExpense $4.43M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-1.49M USD 1 Quarter
Other income (expense), net OtherNonoperatingIncomeExpense $-251.00K USD 1 Quarter
Income (loss) before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $-21.64M USD 1 Quarter
Income (loss) before provision for income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $3.60M USD 1 Quarter
Benefit from income taxes IncomeTaxExpenseBenefit $-2.70M USD 1 Quarter
Benefit from income taxes IncomeTaxExpenseBenefit $-6.65M USD 1 Quarter
Net income (loss) ProfitLoss $-14.99M USD 1 Quarter
Net income (loss) ProfitLoss $6.31M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.08 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $-0.18 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.08 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $-0.18 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 80.82M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 82.36M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 82.21M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 82.36M shares 1 Quarter
Cash Flow Statement 66 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-14.99M USD 1 Quarter
Net income (loss) ProfitLoss $6.31M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $10.89M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $9.65M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $3.16M USD 1 Quarter
Amortization of debt discount and issuance costs AmortizationOfFinancingCostsAndDiscounts $2.99M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $24.56M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $23.34M USD 1 Quarter
Charges to bad debt and revenue reserves ProvisionForDoubtfulAccounts $238.00K USD 1 Quarter
Charges to bad debt and revenue reserves ProvisionForDoubtfulAccounts $357.00K USD 1 Quarter
Deferred income tax DeferredIncomeTaxesAndTaxCredits $-7.38M USD 1 Quarter
Deferred income tax DeferredIncomeTaxesAndTaxCredits $-3.38M USD 1 Quarter
Accretion of discount on available-for-sale securities, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $1.79M USD 1 Quarter
Accretion of discount on available-for-sale securities, net AccretionAmortizationOfDiscountsAndPremiumsInvestments $1.36M USD 1 Quarter
Other non-cash items affecting net income (loss) OtherNoncashIncomeExpense - USD 1 Quarter
Other non-cash items affecting net income (loss) OtherNoncashIncomeExpense $-374.00K USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-58.57M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $-28.20M USD 1 Quarter
Unbilled accounts receivable IncreaseDecreaseInUnbilledReceivables $23.10M USD 1 Quarter
Unbilled accounts receivable IncreaseDecreaseInUnbilledReceivables $25.66M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-3.90M USD 1 Quarter
Prepaid expenses and other assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.45M USD 1 Quarter
Operating lease assets IncreaseDecreaseInOperatingLeaseRightOfUseAsset $-2.34M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-7.93M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-3.01M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-39.78M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-29.05M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-32.74M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-24.71M USD 1 Quarter
Lease liabilities IncreaseDecreaseInOperatingLeaseLiability $285.00K USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-1.69M USD 1 Quarter
Other liabilities IncreaseDecreaseInOtherOperatingLiabilities $-2.51M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-18.14M USD 1 Quarter
Net cash used in operating activities NetCashProvidedByUsedInOperatingActivities $-27.25M USD 1 Quarter
Purchases of available-for-sale securities PaymentsToAcquireAvailableForSaleSecurities $406.76M USD 1 Quarter
Purchases of available-for-sale securities PaymentsToAcquireAvailableForSaleSecurities $253.47M USD 1 Quarter
Sales and maturities of available-for-sale securities ProceedsFromSaleOfAvailableForSaleSecurities $360.24M USD 1 Quarter
Sales and maturities of available-for-sale securities ProceedsFromSaleOfAvailableForSaleSecurities $238.39M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.94M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $9.62M USD 1 Quarter
Capitalized software development costs PaymentsToDevelopSoftware $1.35M USD 1 Quarter
Capitalized software development costs PaymentsToDevelopSoftware $459.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-57.50M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-18.48M USD 1 Quarter
Proceeds from issuance of common stock upon exercise of stock options ProceedsFromStockOptionsExercised $368.00K USD 1 Quarter
Proceeds from issuance of common stock upon exercise of stock options ProceedsFromStockOptionsExercised $689.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $368.00K USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $689.00K USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-776.00K USD 1 Quarter
Effect of foreign exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $254.00K USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-75.01M USD 1 Quarter
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-45.82M USD 1 Quarter
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $391.32M USD Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $437.14M USD Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $254.10M USD Point-in-time
CASH AND CASH EQUIVALENTSBeginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $179.09M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $391.32M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $437.14M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $254.10M USD Point-in-time
CASH AND CASH EQUIVALENTSEnd of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $179.09M USD Point-in-time
Cash paid for income taxes, net of tax refunds IncomeTaxesPaidNet $1.06M USD 1 Quarter
Cash paid for income taxes, net of tax refunds IncomeTaxesPaidNet $853.00K USD 1 Quarter
Accruals for purchase of property and equipment CapitalExpendituresIncurredButNotYetPaid $5.17M USD 1 Quarter
Accruals for purchase of property and equipment CapitalExpendituresIncurredButNotYetPaid $1.59M USD 1 Quarter
Accruals for capitalized software costs CapitalizedSoftwareCostsIncurredButNotYetPaid $95.00K USD 1 Quarter
Accruals for capitalized software costs CapitalizedSoftwareCostsIncurredButNotYetPaid $22.00K USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $1.59B USD Point-in-time
Beginning balance StockholdersEquity $1.41B USD Point-in-time
Beginning balance StockholdersEquity $1.57B USD Point-in-time
Beginning balance StockholdersEquity $1.49B USD Point-in-time
Net loss ProfitLoss $-14.99M USD 1 Quarter
Net loss ProfitLoss $6.31M USD 1 Quarter
Issuance of common stock upon exercise of stock options (in shares) StockIssuedDuringPeriodSharesStockOptionsExercised 21,698.00 shares 1 Quarter
Issuance of common stock upon exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $689.00K USD 1 Quarter
Issuance of common stock upon exercise of stock options StockIssuedDuringPeriodValueStockOptionsExercised $368.00K USD 1 Quarter
Issuance of common stock upon vesting of Restricted Stock Units (RSUs) StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Issuance of common stock upon vesting of Restricted Stock Units (RSUs) StockIssuedDuringPeriodValueRestrictedStockAwardGross - USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $23.21M USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $24.77M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $133.00K USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-812.00K USD 1 Quarter
Unrealized gain on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-153.00K USD 1 Quarter
Unrealized gain on available-for-sale securities, net of tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $1.00M USD 1 Quarter
Reclassification adjustment for realized gain on available-for-sale securities, included in net loss OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-46.00K USD 1 Quarter
Reclassification adjustment for realized gain on available-for-sale securities, included in net loss OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Cancellation of common stock issued as part of Cyence acquisition StockRepurchasedAndRetiredDuringPeriodValue - USD 1 Quarter
Ending balance StockholdersEquity $1.59B USD Point-in-time
Ending balance StockholdersEquity $1.41B USD Point-in-time
Ending balance StockholdersEquity $1.57B USD Point-in-time
Ending balance StockholdersEquity $1.49B USD Point-in-time
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income (loss) ProfitLoss $-14.99M USD 1 Quarter
Net income (loss) ProfitLoss $6.31M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $-812.00K USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax $133.00K USD 1 Quarter
Unrealized gains (losses) on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $1.33M USD 1 Quarter
Unrealized gains (losses) on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax $-200.00K USD 1 Quarter
Tax benefit (expense) on unrealized gains (losses) on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $-47.00K USD 1 Quarter
Tax benefit (expense) on unrealized gains (losses) on available-for-sale securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax $328.00K USD 1 Quarter
Reclassification adjustment for realized gains (losses) included in net income (loss) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $-46.00K USD 1 Quarter
Reclassification adjustment for realized gains (losses) included in net income (loss) OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $1.18M USD 1 Quarter
Total other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTax $-965.00K USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $-13.81M USD 1 Quarter
Comprehensive income (loss) ComprehensiveIncomeNetOfTax $5.34M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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