Guidewire delivered a strong Q4 2024 performance underpinned by robust cloud adoption and durable ARR growth. Total quarterly revenue of $291.5 million reflected a mix shift toward cloud-based offerings, with subscription and support revenue and cloud ARR driving the upside. The company reported a 14% year-over-year increase in ARR (constant currency) and a 19% growth in fully ramped ARR, as Guidewire continues to scale its cloud platform and move customers toward broader Suite and data-enabled solutions. Profitability improved meaningfully through higher cloud margins, with non-GAAP gross margin expanding to 63% and subscription gross margin surpassing 65%, supported by the ramp in Guidewire Cloud and efficiency gains across the operating model. Free cash flow remained robust, and the balance sheet remained solid with approximately $1.1 billion in cash, cash equivalents, and investments and a net cash position on a levered basis. The company guided to 2025 ARR of $0.995–$1.005 billion, total revenue of $1.135–$1.149 billion, and continued focus on cash generation, R&D investment, and margin expansion, signaling a durable path to GAAP profitability in fiscal 2025. The dynamics in Q4 also included a healthy pipeline, continued cloud migrations, and a broadening of deal sizes and scope, suggesting upside optionality from larger, multi-product deployments and an expanding ecosystem of partners and data offerings.