Guidewire, a platform provider for property and casualty re/insurers, has reported a net income (GAAP) of $9.7 million for the second quarter of the fiscal year 2024, a notable turnaround from the net loss of $9.2 million for the same quarter in fiscal year 2023.
This quarter’s net income is also a substantial increase from the $27.1 million net loss reported in the first quarter of fiscal year 2024.
Despite the positive net income, Guidewire witnessed $12.4 million loss from operations, though this is still an improvement compared to the previous fiscal year’s loss of $23.2 million in the same quarter.
