Clearwater Analytics Holdings Inc

CWAN

Equity

ISIN US1851231068 / Valor 113493064

New York Stock Exchange, Inc (2024-12-24)

USD 28.52+1.17%

Clearwater Analytics Holdings Inc
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About company

Clearwater Analytics Holdings Inc is a leading provider of SaaS-based investment accounting and analytics solutions, catering to a wide range of clients with assets totaling over $7.3 trillion. The company's platform aggregates, reconciles, and reports on assets across various accounts, asset classes, currencies, and regulatory bodies on a daily basis. By offering a comprehensive solution, Clearwater enables investment accounting teams to streamline their processes, leading to simplified reporting and faster decision-making, ultimately driving higher returns for their clients.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Clearwater Analytics Holdings Inc. reported a record quarterly revenue of $115.8 million for the third quarter of 2024, marking a 22% increase compared to the same period in the previous year. This growth highlights the company's strong market position and successful execution of its business strategies.

Net Income and Adjusted EBITDA

For the third quarter of 2024, Clearwater Analytics Holdings Inc. achieved a net income of $4.8 million, a significant improvement from a net loss of $2.3 million in the third quarter of 2023. Additionally, the company's adjusted EBITDA rose by 34% year-over-year, reaching $38.3 million, reflecting enhanced operational efficiency and profitability.

Annualized Recurring Revenue

As of September 30, 2024, Clearwater Analytics Holdings Inc.'s annualized recurring revenue (ARR) increased by 26% year-over-year, reaching $456.9 million. This growth in ARR underscores the company's ability to retain and expand its customer base, contributing to its long-term financial stability.

Cash Flow Improvements

Clearwater Analytics Holdings Inc. reported operating cash flows of $49.7 million for the third quarter of 2024, a 57% increase compared to the same quarter in 2023. The improvement in cash flows was driven by positive net income and favorable working capital changes, enhancing the company's financial flexibility.

Revenue Retention Rates

In the third quarter of 2024, Clearwater Analytics Holdings Inc. achieved a gross revenue retention rate of 99% and a net revenue retention rate of 114%. These high retention rates indicate strong customer satisfaction and the company's ability to maintain and grow its revenue streams from existing clients.

Summarized from source with an LLMView Source

Key figures

42.2%1Y

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Performance

38.1%1Y

37.8%3Y

37.8%5Y

Volatility