Guidewire Software Inc Q1 2025 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Dylan Becker - William Blair & Company, L.L.C. - Analyst : Hey, gentlemen. Hopefully, you can hear me here. Appreciate the question. Mike, you touched on this to start. Obviously, we were at Connections, and it was very clear, the enthusiasm from customers and partners that you talked to. I'm wondering if you could dive into the importance -- you called out kind of now roughly half of the base along this cloud migration journey. I think the vast majority of those are on more frequent versions of the software as well. So how that kind of unlocks more of this ecosystem enthusiasm and how it contributes confidence in your aspirational goal of getting 100% of this ecosystem converted to the cloud over time.

Question: Dylan Becker - William Blair & Company, L.L.C. - Analyst : No, no, it does. Appreciate it, and it was great to see the enthusiasm at the event. Maybe, Jeff, as a segue to you off of that, you called out the acceleration in subscription and support revenues as a function of some of these larger Tier-1 deals. Obviously, 70% gross margin there, tracking well ahead. Maybe how this gives confidence and obviously, the kind of financial implications of this long-term normalization and some of your longer-term targets there. Thanks, guys. Appreciate it.