Foster City, Calif.-based insurtech firm Guidewire Software Inc. issued its outlook for the second fiscal quarter and updated its guidance for fiscal year 2020.
For the second quarter, the company expects revenue of between $162.0 million and $166.0 million. It anticipates a GAAP loss from operations in a range of $28.9 million to $24.9 million and non-GAAP income from operations between $5.0 million and $9.0 million.
Guidewire Software maintained its revenue guidance of between $759.0 million and $771.0 million for fiscal year 2020. The company also maintained its guidance for GAAP loss from operations in the range of $41.4 million to $29.4 million and non-GAAP income from operations in the range of $96.0 million to $108.0 million.
The company said it will not provide an outlook for GAAP and non-GAAP net income or loss and their per-share equivalents due to the issuance of base erosion and anti-abuse tax regulations, which the company is evaluating. Guidance Software believes the regulations will increase its GAAP income tax provision in fiscal year 2020 but will not impact the non-GAAP income tax provision.
It previously expected GAAP net loss of $30.7 million to $21.7 million, or a per-share loss of 37 cents to 26 cents, and non-GAAP net income in the range of $92.4 million to $102.3 million, or $1.10 per share to $1.22 per share, for fiscal year 2020.
Guidance Software reported a net loss of $15.0 million, or 18 cents per share, in the three months ended October, compared to net income of $6.3 million, or 8 cents per share, in the year-ago period.