Guidewire Software, Inc. (NYSE:GWRE) Q3 2020 Earnings Conference Call - Final Transcript

Jun 03, 2020 • 05:00 pm ET


Guidewire Software, Inc. (NYSE:GWRE) Q3 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Guidewire's Third Quarter 2020 Financial Results Conference Call. [Operator Instructions] The question-and-answer session will follow the formal presentation. [Operator Instructions]

I would now like to turn the conference over to Jeff Cooper. Thank you, please begin.

Jeff Cooper

Good afternoon and welcome to Guidewire Software's earnings conference call for the third quarter of fiscal year 2020, which ended on April 30th. My name is Jeff Cooper, I am the Chief Financial Officer, and with me on the call is Mike Rosenbaum, Guidewire's Chief Executive Officer.

A complete disclosure of our results can be found in our press release issued today, as well as in our related Form 8-K furnished to the SEC, both of which are available on the Investor Relations section of our website. Today's call is being recorded, and a replay will be available following the conclusion of the call.

Statements made on this call include forward-looking statements regarding our financial results, products, customer demand, operations, the impact of COVID-19 on our business, certain leadership changes and other matters. These statements are subject to risks, uncertainties and assumptions and are based on management's current expectations as of today and should not be relied upon as representing our views as of any subsequent date. Please refer to the press release and the risk factors and documents we file with the SEC; including our most recent quarterly report on Form 10-Q for information on risks, uncertainties and assumptions that may cause actual results to differ materially from those set forth in such statements.

We will also refer to certain non-GAAP financial measures to provide additional information to investors. A reconciliation of non-GAAP to GAAP measures is provided in our press release with the primary differences being stock-based compensation expenses, amortization of intangibles, the amortization of debt discount and issuance costs from our convertible notes, changes in fair value of strategic investments and the related tax effects of these adjustments. Additionally reconciliations and additional data are also posted in a supplement on our IR website.

With that let me turn the call over to Mike.

Mike Rosenbaum

Thank you, Jeff. And thanks to those of you joining us for our third quarter earnings call. Quite a lot has changed since our last call in March, and I'm proud of how everyone at Guidewire has adapted and responded to the changes required by the COVID-19 pandemic. A lot has also changed in just the past week.

And so before I get to the quarterly results, I want to take a second and relate to everyone how deeply saddened every single member of the team here at Guidewire is regarding the death of George Floyd and the underlying inequality and racism it reflects in our society. I sent a message to our company yesterday that said, it's just fundamentally not acceptable to me that a portion of our community feels that the system we live with, values their lives less than mine. We are all committed to doing our part and working to