DCT - Duck Creek stock gains after surprise FQ2 profit upside guidance

Duck Creek (DCT) shares are up 3.6% after hours following fiscal Q2 results that included a surprise $0.01 non-GAAP profit compared to the $0.03 loss expected by analysts.Total revenue was up 19% Y/Y to $62.7M. Subscription revenue was up 51% Y/Y to $30.6M. Services sales dipped 8% to $22.6M, license revenue increased 61% to $3.6M, and maintenance was up 1% to $5.9M.SaaS annual recurring revenue grew 75% on the year to $118.1M.Adjusted EBITDA was $3M versus the $3.5M in last year's quarter.Duck Creek used $900K in cash from operating activities and had a negative FCF of $1.6M.For Q3, the company forecasts revenue of $62.5-64.5M (consensus: $61.58M) with subscription sales of $31-31.5M and adjusted EBITDA of negative $500K to positive $500K.The full-year view has revenue of $250-254.5M (consensus: $250.48M), subscription revenue of $120-121.5M, and adjusted EBITDA of $6.5-8.Press release.

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Duck Creek stock gains after surprise FQ2 profit, upside guidance