Welcome to our dedicated page for Clarivate Plc news (Ticker: CLVT), a resource for investors and traders seeking the latest updates and insights on Clarivate Plc stock.
Clarivate Plc (NYSE: CLVT) is a leading global provider of transformative intelligence, offering enriched data, insights, analytics, workflow solutions, and expert services across various sectors including Academia & Government, Intellectual Property, and Life Sciences & Healthcare. Formerly part of Thomson Reuters, Clarivate became an independent company in 2016 and went public on the New York Stock Exchange in 2019. The company is headquartered in London with operations in over 100 countries and a workforce of over 4,000 employees.
Clarivate serves a diverse clientele, ranging from academia, government, law, life sciences, and healthcare. Some of its most trusted brands include Web of Science™, Cortellis™, Derwent™, CompuMark™, MarkMonitor®, and Techstreet™. These brands offer specialized services such as scientific and academic research, patent analytics, pharmaceutical and biotech intelligence, and IP management. Researchers and organizations globally rely on Clarivate's curated knowledge bases to accelerate innovation and bring new ideas to market more efficiently.
Recently, Clarivate has been recognized for its ongoing efforts and achievements. The company has made significant strides in the realm of cancer treatment research, particularly in the area of CAR T-cell therapies. According to a three-part report published by BioWorld™, Clarivate is exploring the rapid pipeline growth and clinical trials in CAR T therapy development in China. This report is part of the company’s commitment to providing valuable insights into groundbreaking treatments and their potential market impacts.
Additionally, Clarivate has launched key updates to its Cortellis CMC Intelligence™ solution, introducing a new post-approval variations module. This update assists pharmaceutical, biotech, and generics companies in streamlining regulatory tracking and optimizing lifecycle management for both small molecules and biologics.
The company also introduced Epidemiology Intelligence™, combining epidemiological data with U.S. claims-based population insights to help biopharma companies accurately gauge market size and target patient demographics. Another significant launch was the Trademark Watch Analyzer, an AI-enhanced trademark protection solution providing faster and more accurate answers to critical business questions by leveraging global trademark and case law data.
Financially, Clarivate reported a slight decrease in revenues for the first quarter of 2024, yet showed resilience and strategic focus on long-term growth. The company continues to invest in product development and operational initiatives to drive future organic revenue growth. Their financial stability is underscored by substantial cash flow and a clear strategy for debt management.
Clarivate’s strategic partnerships, such as the recent collaboration with HealthWise Data, further enhance its offerings by integrating Social Determinants of Health (SDoH) attributes into its Real-World Data repository, contributing to enhanced patient outcomes and healthcare equity.
For more information about Clarivate, its products, and services, visit www.clarivate.com.
Clarivate has entered into an agreement with Newfold Digital for the sale of MarkMonitor, an enterprise-level domain management provider, for approximately $302.5 million. The transaction is expected to finalize in late 2022, pending regulatory approvals. MarkMonitor is projected to generate $80 million in revenue and $35 million in EBITDA for 2022. This acquisition will enhance Newfold's domain management solutions, benefiting its extensive customer base, including Fortune 500 companies, and allow Clarivate to concentrate on its core IP management portfolio.
Clarivate Plc (NYSE: CLVT), a leader in innovation insights, announced its participation in two key investor conferences in September 2022. The first is the Barclays Global Financial Services Conference on September 12 at 9:00 am ET, followed by the Goldman Sachs Communacopia + Technology Conference on September 15 at 2:30 pm ET. Live webcasts will be available for both events. These presentations will be made by CEO Jonathan Gear and CFO Jonathan Collins, showcasing the company's commitment to accelerating innovation.
Clarivate Plc (NYSE: CLVT) announced significant leadership changes as Jonathan Gear takes over as CEO following Jerre Stead's retirement. Stead will transition to a non-executive chair role, and Andrew Snyder has been appointed as the new chair of the board, effective after the October 20 board meeting. Snyder, who is the CEO of Cambridge Information Group, expressed his commitment to driving company growth and increasing shareholder value alongside Gear. Stead will be honored as Chairman Emeritus to continue providing his insights to the board.
Clarivate Plc (NYSE:CLVT; CLVT PR A) has declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares. This dividend is payable in cash on September 1, 2022, to shareholders who are on record by the close of business on August 15, 2022. The decision reflects the company's commitment to returning value to shareholders while maintaining its position as a leader in providing trusted information and insights to drive innovation.
Clarivate Plc reported strong financial results for Q2 2022, with revenues of $686.6 million, up 54% year-over-year. Organic revenue growth was 4.8%. The company recorded a net income of $43.7 million, a significant turnaround from a net loss of $131.5 million in the same quarter last year. Adjusted EBITDA rose 45.2% to $274.4 million, and adjusted net income increased by 50.1%. However, cash flow from operations declined by $97.1 million to $164.6 million, primarily due to seasonality and one-time payments. CEO Jerre Stead announced retirement plans, effective end of August.
Clarivate Plc (NYSE: CLVT) has been chosen by the National Library Board of Singapore (NLB) to provide library software solutions through its Innovative division. This contract includes the Polaris Integrated Library System and Vega Discover applications, designed to enhance the library experience for both staff and patrons. The initiative aligns with NLB's Libraries and Archives Blueprint 2025, aimed at modernizing library services. Executive Chairman Jerre Stead emphasized Clarivate's commitment to innovation and improving library automation and discovery standards.
On July 27, 2022, Clarivate Plc (NYSE:CLVT) released a new Global Research Report from the Institute for Scientific Information, emphasizing the necessity to escalate ocean science research in response to challenges like microplastics pollution and climate change. The report shows a threefold increase in ocean science research output from 2000 to 2020, highlighting critical trends and collaboration gaps. It notes rapid growth in microplastics research since 2015 and shifting dominance from the U.S. to Mainland China in ocean research output.
Clarivate Plc (NYSE: CLVT) announced that in the 2023 Journal Citation Reports (JCR), all journals in the Web of Science Core Collection will receive a Journal Impact Factor (JIF). This expansion includes nearly 9,000 journals, enhancing transparency for quality journals, especially from the Global South. The JIF will now show one decimal place to emphasize additional metrics. The change reflects Clarivate's ongoing commitment to integrity in scholarly research and will be effective from June 2023.
Clarivate Plc (NYSE: CLVT) has announced that its MarkMonitor division is now the first and only foreign-owned domain name registrar licensed in Mainland China. This new service allows businesses to register various Top Level Domains including .com, .cn, and .net. The Chinese e-commerce market is projected to reach US$3.3 trillion by 2025, highlighting significant growth potential. Chief Product Officer Gordon Samson emphasized the importance of secure domain management amid increasing cyber threats, aiming to bolster brand protection for organizations operating in this dynamic region.
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