Welcome to our dedicated page for Clearwater Analytics Hldgs news (Ticker: CWAN), a resource for investors and traders seeking the latest updates and insights on Clearwater Analytics Hldgs 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.
Clearwater Analytics (NYSE: CWAN) has appointed Lisa Jones, an asset management veteran with over 30 years of experience, to its Board of Directors. Jones, who is also CEO of Amundi US, Inc., will join the Audit Committee. Her significant background includes leading growth initiatives and improving financial results at major firms. The CEO of Clearwater, Sandeep Sahai, expressed enthusiasm about Jones' appointment, highlighting her experience in integrating complex investment businesses and her potential to strengthen the company's leadership.
On September 13, 2022, Clearwater Analytics (NYSE: CWAN) announced the winners of its inaugural Client Awards at Clearwater Connect 2022 in Boise, Idaho. The awards recognize firms and individuals who have excelled in investment accounting using Clearwater's platform. Notable winners include Chimera Investment Corporation, Markel Corporation for operational excellence, and CNA Insurance as a growth enabler. Clearwater's solutions manage over $5.9 trillion in assets, helping clients optimize investment data through automated services.
Clearwater Analytics (NYSE: CWAN) announced significant product enhancements in Q2 2022, improving user experience and regulatory compliance. The upgrades include new NAIC designation categories, enhanced solvency II reporting, and hybrid benchmarks for detailed analysis. Notable features include updated Schedule D and RBC reports for greater accuracy, a new 'Universal Close' pricing type for derivatives, and advanced cash flow analysis reports. These innovations aim to boost operational efficiency, aligning with regulatory standards and empowering clients with reliable data for decision-making.
Clearwater Analytics (NYSE: CWAN) announced its collaboration with Chimera Investment Corporation (NYSE: CIM), a New York-based REIT, to enhance investment data management and reporting. This partnership aims to provide the high-quality data transparency that REITs require, streamlining extensive internal processes hindered by outdated solutions. Clearwater's automated system will support Chimera's complex portfolio, which includes various mortgage-backed securities, through improved accounting and compliance with GAAP. The solution is expected to scale with Chimera's growth and evolving regulatory demands.
Clearwater Analytics (CWAN) announced its annual user conference, Clearwater Connect 2022, taking place from September 13-15, 2022, in Boise, Idaho. The event will showcase the newest features of Clearwater's SaaS platform, emphasizing its potential to enhance business productivity. A diverse speaker lineup of accounting and finance experts will provide insights into industry trends and regulatory updates. The conference aims to foster networking and educational opportunities, helping attendees navigate the complexities of investment accounting and operations.
Clearwater Analytics (CWAN) announced its second-quarter financial results for 2022, reporting a record revenue of $73.4 million, marking a 21% increase year-over-year. The company achieved a remarkable 98% gross revenue retention rate for the fourteenth consecutive quarter and generated $18.3 million in operating cash flow. Despite these positives, Clearwater recorded a net loss of $2.2 million for the quarter. The company's annualized recurring revenue (ARR) grew to $290.4 million, showing an 18.5% increase compared to the previous year.
Clearwater Analytics (NYSE: CWAN) has appointed Dr. JP Singh, a renowned Computer Science Professor at Princeton and tech industry veteran, to its Board of Directors. With extensive experience in data science, AI, ML, and cybersecurity, Dr. Singh is expected to enhance Clearwater's innovative capabilities. He co-founded companies like CaaStle and Trust Machines and has consulted for major corporations, including Intel and Microsoft. His additions to the board aim to leverage disruptive technology in investment accounting, reporting, and analytics, ultimately serving Clearwater's global clientele better.
Clearwater Analytics (CWAN) will release its second quarter financial results for the period ending June 30, 2022, post market close on August 3, 2022. The company provides SaaS solutions for investment accounting and analytics, reporting on over $5.9 trillion in assets for a diverse client base. A conference call will follow the announcement at 5:00 p.m. ET, accessible via their investor relations website. This update is crucial for investors monitoring CWAN's financial performance and market position.
Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment solutions, announced participation in two major investor conferences in Q3 2022. CEO Sandeep Sahai will engage in a fireside chat at the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 9, 2022, while CFO Jim Cox will present at the Goldman Sachs 2022 Communacopia + Technology Conference in San Francisco on September 12, 2022. Webcasts will be available on Clearwater's investor relations website.
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