DCT - Duck Creek Technologies slumps 23% after Q3 results

• Duck Creek Technologies ( NASDAQ: DCT ) Q3 shows a jump in revenue of 7% to $72.4M, beating consensus by $0.32M.
• Subscription revenue was $38M, an increase of 13%; professional services revenue was $25.4M, a decrease of 1%; license revenue was $2.9M, an increase of 16%; and maintenance and support revenue was $6M, a decrease of 5%.
• SaaS annual recurring revenue grew 25% Y/Y.
• GAAP loss from operations was $4.7M vs. $0.5M prior.
• Non-GAAP income from operations was $1.8M vs. $4.8M prior.
• GAAP net loss was $5.8M vs. $0.4M last year.
• Non-GAAP net income was $0.9M vs. $4M last year.
• Adjusted EBITDA was $2.4M.
• $141.7M in cash and cash equivalents, $223.5M in short term investments and no debt.
• Business Outlook Q4 : Revenue $72.8M-74.8M; Subscription Revenue $36.7M-38.2M; Adjusted EBITDA $3M-5M; Non-GAAP net income $1.4-3.4M; Non-GAAP EPS $0.01 to $0.02.
• Business Outlook FY : Revenue $295M-297M; Subscription Revenue $150M-151.5M; Adjusted EBITDA $20.5-22.5M; Non-GAAP net income $12-14M; Non-GAAP EPS $0.09 to $0.10.
• Previously (June 29): Duck Creek Technologies Non-GAAP EPS of $0.01, revenue of $72.4M beats by $0.32M

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