Welcome to our dedicated page for Clearwater Analytics Holdings news (Ticker: CWAN), a resource for investors and traders seeking the latest updates and insights on Clearwater Analytics Holdings stock.
Clearwater Analytics Holdings, Inc. (NYSE: CWAN) is a renowned provider of SaaS-based solutions that streamline investment management, accounting, reporting, and analytics for insurers, investment managers, corporations, institutional investors, and government entities. Headquartered in Boise, Idaho, Clearwater Analytics offers a robust platform that automates investment data aggregation, reconciliation, accounting, and reporting.
Core Business: The company generates revenue by providing access to its SaaS platform, selling software licenses, and offering maintenance, support, and professional services. Most of its revenue comes from the United States.
Recent Achievements: In March 2024, Clearwater announced an underwritten secondary public offering of 16,250,000 shares of Class A common stock. Around the same time, MSIG Singapore selected Clearwater's platform for its investment data management and reporting operations, and Aegon Asset Management implemented Clearwater PRISM for global client reporting.
Current Projects: Clearwater is acquiring risk and performance analytics solutions from Wilshire Advisors LLC to enhance its platform, creating the new Clearwater Wilshire Analytics. This acquisition, expected to close in the second quarter of 2024, will help clients with performance and risk attribution, security-level portfolio construction, and more.
Financial Condition: As of Q1 2024, Clearwater reported 21% organic year-over-year revenue growth, driven by strong adoption of its platform and innovative product offerings. The company's robust financial performance highlights its market position and operational efficiency.
Partnerships: Clearwater collaborates with industry leaders like MSIG Singapore and Aegon AM, emphasizing its commitment to providing top-tier investment management solutions.
Products: Clearwater's platform supports investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. The newly integrated Clearwater Wilshire Analytics will further enhance these capabilities.
On February 22, 2023, Clearwater Analytics (NYSE: CWAN) announced its partnership with OneUnited Bank and IntraFi to launch a fully FDIC-insured deposit program. Clearwater provides a technology platform enabling mutual corporate clients to manage deposits efficiently, enhancing access to financial products for minority communities. OneUnited Bank, the largest Black-owned bank in the U.S., aims to attract corporate deposits ranging from $1 million to $50 million. This initiative not only supports low-to-middle income communities but also aligns with corporations' ESG and DEI objectives, creating a streamlined way for firms to fulfill their social responsibility commitments.
Clearwater Analytics reported robust Q4 2022 results, achieving $82.7 million in revenue, marking an 18.5% year-over-year growth. Full-year revenue reached $303.4 million, up 20%. The company reported an EBITDA margin of 29.4% and generated $16.6 million in free cash flow during Q4. Annualized recurring revenue (ARR) was $323.5 million, reflecting a 16.4% increase. However, a net loss of $2.0 million was recorded, contrasting with a net income of $0.1 million in Q4 2021. Clearwater's guidance for Q1 2023 indicates projected revenue growth of ~17%.
Clearwater Analytics (NYSE: CWAN) will release its financial results for the fourth quarter and full year ended December 31, 2022, on February 21, 2023, after the U.S. markets close. The Company provides SaaS-based investment accounting, reporting, and analytics solutions, managing over $5.9 trillion in assets. A live conference call will be hosted on the same day at 5:00 p.m. ET, with details available on Clearwater's investor relations website. The call will also be available for replay, alongside a press release and financial tables related to the results.
Clearwater Analytics (NYSE: CWAN) announced that its executive team will attend several investor conferences in Q1 2023. CEO Sandeep Sahai will hold one-on-one meetings at the Bernstein's Tech, Media, Telecom & Consumer Forum in New York City on March 1, 2023. CFO Jim Cox will participate in a fireside chat and one-on-one meetings at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on March 6, 2023, followed by virtual meetings at the Loop Capital Markets 2023 Investor Conference on March 13, 2023. The webcast of the fireside chat will be accessible on Clearwater's investor relations website.
Clearwater Analytics (NYSE: CWAN) has been selected by Singapore-based Avallis Investments to enhance its investment data management and reporting operations. This partnership aims to drive growth in Avallis' wealth management offerings across Asia. Clearwater's SaaS-based solutions will provide Avallis with a comprehensive view of investment portfolios, improving operational efficiency by eliminating manual data aggregation. The platform is designed to enable clients to gain actionable insights quickly, manage risk, and enhance performance measurement. Clearwater Analytics is recognized for automating the investment lifecycle for various institutions, overseeing over $5.9 trillion in assets globally.
Clearwater Analytics (NYSE: CWAN) has announced significant updates to its SaaS investment accounting platform. The enhancements are designed to support the latest accounting standards and improve asset class reporting. Key updates include enhanced Schedule DB support for derivatives, new Solvency II reporting capabilities, and advanced analytics for overnight rate indexed securities and variable bonds. Notably, clients can see a 75% reduction in time spent on accounting and reporting tasks. Clearwater's solution currently manages over $5.9 trillion in assets for a diverse clientele.
Clearwater Analytics (CWAN) has completed its acquisition of JUMP Technology, a French investment management software provider. This move aims to enhance Clearwater's suite of services, doubling its presence in Europe and offering a comprehensive solution for investment management. The acquisition integrates JUMP's modular technology into Clearwater's platform, improving clients’ operational efficiencies across the investment lifecycle.
Clearwater Analytics (NYSE: CWAN) reported a record quarterly revenue of $76.6 million for Q3 2022, representing a 19% increase year-over-year. Gross profit reached $53.8 million with a 74.8% non-GAAP gross margin. Despite a net loss of $3.0 million, non-GAAP net income increased by 59% to $13.8 million. The company continues to maintain strong client relationships, achieving a gross revenue retention rate of 98% over 15 consecutive quarters. Upcoming acquisition of JUMP Technology is expected to enhance product offerings and expand market presence.
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