Duck Creek Technologies, Inc. (NASDAQ:DCT) Q1 2023 Earnings Call Transcript

Mike Jackowski: I think one thing I would even — I would also like to note is we did get some deals earlier in Q1 than we anticipated that contributed to Q1 revenue. We knew that they were going to close but they came in earlier. So, we kind of exited — had an exit rate that was a little stronger, and that’s why we beat our Q1 guide.

Operator: Thank you. At this time, I’d like to turn the call back over to CEO, Mike Jackowski, for closing remarks. Sir?

Mike Jackowski: Okay. Thank you, everyone, for participating in our Q1 fiscal year €˜23 earnings call. As I said, we’re off to a great start to the year, exceeding all of our key operating metrics. And I feel we’re well positioned to achieve our key financial and operating metrics for the year. We’re also thrilled to announce the acquisition of Imburse, which positions Duck Creek to take advantage of the billions of dollars of premium payments, claim payments and agency commissions that we manage every year. And Imburse will also help assist in our ambition to continue to expand globally. We’re positioned for the rest of the year with terrific momentum as we finished Q1 with a SaaS ARR of $180.6 million, which is up 24% year-over-year. So, let me just wrap up and again by emphasizing that we have an enormous opportunity in front of us as the industry continues to transition solutions to the cloud. So thank you, and have a good evening.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.