Guidewire Software reported $4.30B of remaining performance obligations at 31 Jul 2026, up 39% from a year earlier and up 19% from the previous quarter. That is 2.9 years of trailing revenue already under contract. Book-to-bill last quarter: 2.70.
Net new backlog added in the latest quarter: $700M.
Over the last twelve months it turned about 44% of its opening backlog into revenue (12-month conversion).
Customer prepayments (contract liabilities) cover 10.2% of the backlog.
Twelve-month book-to-bill: 1.81, i.e. 1.81 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +16 points — orders are running ahead of revenue.
By backlog size it ranks 122nd among US filers the cockpit tracks.
Guidewire Software backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Jul 2026
$4.30B
$1.48B
2.9 yrs
$439M
30 Apr 2026
$3.60B
$1.42B
2.5 yrs
$304M
31 Jan 2026
$3.50B
$1.34B
2.6 yrs
$313M
31 Oct 2025
$3.20B
$1.27B
2.5 yrs
$256M
31 Jul 2025
$3.10B
$1.20B
2.6 yrs
$345M
30 Apr 2025
$2.50B
$1.14B
2.2 yrs
$264M
31 Jan 2025
$2.10B
$1.08B
1.9 yrs
$268M
31 Oct 2024
$2.00B
$1.04B
1.9 yrs
$227M
31 Jul 2024
$2.00B
$980M
2.0 yrs
$286M
30 Apr 2024
$1.60B
$959M
1.7 yrs
$185M
31 Jan 2024
$1.50B
$926M
1.6 yrs
$199M
31 Oct 2023
$1.50B
$918M
1.6 yrs
$175M
Questions
What is Guidewire Software's backlog?
Guidewire Software reported $4.30B of remaining performance obligations at 31 Jul 2026, up 39% from a year earlier and up 19% from the previous quarter. That is 2.9 years of trailing revenue already under contract. Book-to-bill last quarter: 2.70.
How fast does Guidewire Software's backlog turn into revenue?
Over the last twelve months Guidewire Software recognised revenue equal to about 44% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.