DCT Industrial Stock Price, News & Analysis

Duck Creek Technologies (NASDAQ: DCT) reported strong Q2 fiscal 2021 results, with total revenue of $62.7 million, a 19% increase year-over-year. Subscription revenue surged 51% to $30.6 million, while SaaS Annual Recurring Revenue rose 75% to $118.1 million. Despite these gains, the company experienced a GAAP net loss of $6.4 million, worsening from a $2.4 million loss in the previous year. Adjusted EBITDA decreased to $3.0 million. Looking ahead, Duck Creek expects Q3 revenue between $62.5 million and $64.5 million and full-year revenue of $250 million to $254.5 million.

Duck Creek Technologies (NASDAQ: DCT) will release its financial results for Q2 FY 2021 on April 5, 2021, after market close. The results will cover the quarter ending February 28, 2021. Following the announcement, a conference call will be held at 5:00 PM ET on the same day to discuss the financial outcomes and future business outlook. Investors can access the call via phone or a live webcast on Duck Creek's Investor Relations page. Replays of the call will be available until April 19, 2021.

Duck Creek Technologies (NASDAQ: DCT) and Xceedance partnered to help global insurer Hollard launch a new platform in Australia for personal insurance lines. The integration, completed in just six months during the pandemic, relied on Duck Creek's low-code solutions. Hollard's CIO highlighted the importance of agility in a competitive market, emphasizing the platform's potential to enhance operational efficiency. The collaboration marks a significant milestone in Hollard's technology transition and positions them for future growth as they expand their services.

DCT partners with Capgemini and RSA Group to launch the Unity Program in the UK, enhancing self-service insurance channels for personal lines customers. The initiative targets major building societies, including Yorkshire Building Society and Nationwide Building Society. This platform allows customers to customize their coverage and improves the customer journey from policy purchase to claims. The successful implementation showcases the collaboration's effectiveness and positions RSA as a leader in innovative insurance solutions.

Duck Creek Technologies has appointed Courtney Townsend as its first Chief People Officer. Her role will focus on enhancing the company’s human resources strategy, including culture development, diversity, and talent management. Townsend brings over 15 years of experience in human resources, having previously served as Chief Human Resources Officer at Stats Perform. This appointment aims to support Duck Creek’s growth and leadership during a transformative period for the insurance industry.

Duck Creek Technologies (NASDAQ: DCT) announced its collaboration with Core Specialty Insurance Holdings to implement Duck Creek OnDemand, a SaaS platform tailored for the P&C insurance sector. This partnership aims to enhance operational efficiency and innovation as Core Specialty targets significant growth over the next three years. Duck Creek’s solutions are designed to empower insurance carriers with advanced technology and improved market responsiveness. Industry experts express optimism about this development, highlighting its potential to strengthen Core Specialty’s competitive position.

Duck Creek Technologies (NASDAQ: DCT) has partnered with Larsen & Toubro Infotech to implement the full Duck Creek Suite via Duck Creek OnDemand for Mutual Benefit Group (MBG), a property and casualty insurer.

MBG aims to migrate its core systems to a SaaS model to enhance customer service and operational efficiency, positioning itself competitively within the insurance market. This strategic decision is part of a broader cloud initiative to modernize business operations and improve user experiences while maintaining a focus on innovation and agility.

Duck Creek Technologies announced an expansion of its Partner Ecosystem through a new collaboration with DocuSign. This integration allows insurance carriers to enhance producer experiences by streamlining onboarding and contracting processes, enabling e-signatures through the Duck Creek Distribution Management system. Key benefits include reduced operational costs, faster revenue realization, and improved transparency with status tracking. The Anywhere Enabled Integration is also now available, further facilitating electronic document signatures. Duck Creek Technologies continues to position itself as a leader in core system solutions for the insurance industry.