Boosts Transparency, French GAAP Compliance, and Overall Investment Oversight with Clearwater BOISE, Idaho and PARIS, April 9, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that France Active has gone live on the Clearwater platform after a five-month onboarding period, in order to simplify their investment accounting operations and centralize their accounting book of record. Joi ...

One stock that might be an intriguing choice for investors right now is Clearwater Analytics Holdings, Inc. (CWAN) . This is because this security in the Internet - Software space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking ...

Clearwater PRISM Easily Aggregates Multi-Asset Client Investment Data, Enabling Growth and a Differentiated Client Experience BOISE, Idaho and LONDON, March 19, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based data, investment management, accounting, reporting and analytics solutions, today announced that Aegon Asset Management (Aegon AM) has implemented Clearwater PRISM for its global client reporting needs. Aegon AM is an active global investment business with EUR 3 ...

Leading Singapore Insurer Adopts Clearwater to Automate Investment Accounting, Risk, Compliance, and Regulatory Reporting SINGAPORE, March 7, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that leading general insurer MSIG Singapore has selected Clearwater Analytics to power its investment data management, portfolio analytics, and investment reporting operations. MSIG Singapore, p ...

BOISE, Idaho, March 6, 2024 /PRNewswire/ -- Clearwater Analytics Holdings, Inc. ("Clearwater" or the "Company") (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that it has launched an underwritten secondary public offering of an aggregate of 16,250,000 shares of the Company's Class A common stock, par value $0.001 per share (the "Common Stock"). The Company is conducting a resale of Common Stock on behalf of certain affili ...

Financial Data and Key Metrics Changes - Revenue grew by 21.3% year-over-year, reaching $368.2 million for the full year 2023, with Q4 revenue at $99.0 million, translating to a 19.8% year-over-year growth [98][118] - Gross margin improved by 139 basis points compared to the previous year, achieving a gross profit of $76.2 million in Q4, resulting in a 77% gross margin [71][101] - Adjusted EBITDA for Q4 was $30 million, representing a 30.3% EBITDA margin, which is an improvement of 360 basis points compared to Q1 2023 [102][118] - Free cash flow for the full year 2023 was $79 million, with a conversion rate of EBITDA to free cash flow at 75% [105] Business Line Data and Key Metrics Changes - The number of clients with over $1 million in annual recurring revenue (ARR) increased to 86, reflecting a 28% year-over-year growth in this segment [100][119] - The company reported a net revenue retention (NRR) rate of 107% as of December 31, 2023, slightly up from 106% the previous year [82] Market Data and Key Metrics Changes - International revenue accounted for 18% of total revenue in 2023, with Asia growing the fastest, albeit from a small base [9] - The company noted that the US and North America markets grew faster in 2023 compared to 2022, with EMEA also showing strong growth [9] Company Strategy and Development Direction - The company aims for a normalized growth rate of 20% to 25%, with a focus on innovation and upselling new products to existing clients [34][99] - Clearwater is investing heavily in R&D, with over 60% of R&D capacity now allocated to growth-related product development following the completion of its public cloud transition [89][131] - The company is focusing on expanding its presence in Europe and Asia, with significant investments planned in these regions [65][96] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the macro environment, noting that clients are looking for efficiency and scalability regardless of market conditions [40][57] - The management team highlighted the importance of regulatory changes and increasing complexity in the investment landscape as opportunities for Clearwater's platform [62][72] Other Important Information - The company completed its transition to a public cloud platform with minimal disruption, enhancing its scalability [73] - Clearwater's platform processes and reports on $7.3 trillion in assets daily, an increase of nearly $1 trillion from the previous year [100] Q&A Session Summary Question: What is the revenue outlook for JUMP? - Management indicated that JUMP did grow this year but did not meet ambitious growth targets set during the acquisition process, affecting performance share earnouts [135][153] Question: How is the company addressing the evolving regulatory landscape? - Management noted that increased regulations and complex reporting needs are driving demand for Clearwater's platform, which is designed to handle such complexities [62][72] Question: What are the expectations for net revenue retention? - Management clarified that fluctuations in NRR are minor and attributed to normal business dynamics, with a solid foundation for retention based on high gross retention rates [144]

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M&A Veteran to Steer Corporate Development Strategy and Global Expansion BOISE, Idaho, March 1, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced the appointment of Mike Chen as its new Senior Vice President, Head of Corporate Development. Mike Chen brings more than 20 years of expertise in M&A and corporate business development to the role, having previously served as Head of Corpor ...

Clearwater Analytics (CWAN) reported $99.02 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 19.8%. EPS of $0.10 for the same period compares to $0.07 a year ago.The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $98.59 million. With the consensus EPS estimate being $0.08, the EPS surprise was +25.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

Clearwater Analytics (CWAN) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25%. A quarter ago, it was expected that this automated investment accounting software developer would post earnings of $0.08 per share when it actually produced earnings of $0.09, delivering a surprise of 12. ...