- Duck Creek Applied sciences Inc DCT reported second-quarter progress of 29% year-over-year to $76.42 million, beating the consensus of $72.75 million.
- Subscription income for the quarter was $39.6 million (+29% Y/Y); skilled providers was $26 million (+15percentY/Y); the license was $4.6 million (+30% Y/Y), and upkeep and assist was $6.2 million (+5% Y/Y).
- Adjusted EPS improved to $0.04 from $0.01, beating the consensus of $0.01. The gross margin expanded by 200 bps to 58%.
- Adjusted revenue from operations was $6.6 million for the quarter, in comparison with $2.2 million for the comparable interval in FY21.
- As of February 28, 2022, Duck Creek had $348.6 million in money equivalents and no debt.
- DCT’s web money offered by working actions was $1.6 million, and free money circulate was $1.2 million for the quarter.
- 3Q22 Outlook: Duck Creek Applied sciences expects income of $71 million to $73 million vs. $75.93 million consensus, Subscription income of $36.5 million to $37.5 million, and Adjusted EBITDA of $0.5 million to $1.5 million.
- FY22 Outlook: The corporate expects income of $301 million to $305 million vs. $301.5 million consensus, Subscription income of $151 million to $153 million, and Adjusted EBITDA of $20.5 million to $22.5 million.
- DCT shares are down about 8.3% YTD.
- Worth Motion: DCT shares are buying and selling decrease by 14.11% at $19 in the course of the post-market session on Thursday.
© 2022 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights reserved.
