DCT - Duck Creeks first post-IPO earnings tops estimates forecasts strong fiscal year

Duck Creek Technologies (DCT) shares gain 2.7% AH following upside fiscal Q4 results with strong forecasts for the current quarter and the next fiscal year.Revenue was up 22% Y/Y to $58.32M and EPS was $0.02.Subscription revenue grew 54% Y/Y during the quarter to $24.6M. Services revenue increased 6% to $23.3M and Maintenance was up 2% to $5.9M.SaaS annual recurring revenue was up 85% Y/Y.Adjusted EBITDA was $3M, down from $3.6M in last year's quarter."Duck Creek’s fourth quarter was an excellent finish to an incredible year for the company, highlighted by 54% growth in subscription revenue,” says Michael Jackowski, Duck Creek’s CEO. “During the quarter we signed eight Duck Creek OnDemand wins, with a healthy mix of new and existing customers and a number of multi-product wins. We believe we have established Duck Creek OnDemand, which is approaching $100 million in SaaS ARR, as the SaaS platform of choice for the global P&C insurance industry."Duck Creek ended

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Duck Creeks first post-IPO earnings tops estimates, forecasts strong fiscal year