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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 (CWAN) reported a record revenue of $70.8 million for Q1 2022, marking a 24.4% year-over-year increase. The company's gross profit rose to $49.6 million, up from $42.6 million in 2021. Notably, the gross revenue retention rate stood at 98% for thirteen consecutive quarters, while net revenue retention was 107%. Cash reserves reached $263.7 million. Due to strong performance, the company raised its full-year revenue guidance to between $303 million and $305 million, anticipating a growth rate of around 21%.
Clearwater Analytics (NYSE: CWAN) announced on May 4, 2022, that the Public Employee Retirement System of Idaho (PERSI) has chosen its SaaS platform for investment data aggregation and reporting. PERSI, managing over $23 billion in assets for more than 170,000 individuals, aims to enhance efficiency by eliminating manual reporting. Clearwater's solution will provide daily multi-asset data aggregation and independent shadow valuation, improving transparency and allowing PERSI to focus on fund performance. Clearwater serves over 1,100 clients and automates reporting for $5.9 trillion in assets.
Clearwater Analytics (NYSE: CWAN) will release its first quarter financial results for 2022 on May 4, 2022, after U.S. markets close.
The company will host a conference call on the same day at 5:00 p.m. ET, accessible via its investor relations website. Clearwater Analytics provides a leading SaaS solution for investment accounting and reporting, supporting over 1,100 clients with $5.9 trillion in assets under management.
Clearwater Analytics (NYSE: CWAN) has announced participation in several investor conferences during Q2 2022. Key executives, including CEO Sandeep Sahai and CFO Jim Cox, will engage in events such as the J.P. Morgan 50th Annual Global Technology Conference on May 24, 2022, and the William Blair 42nd Annual Growth Stock Conference on June 7, 2022. The company serves over 1,100 clients and manages approximately $5.9 trillion in assets. Webcasts for these events will be accessible on Clearwater's investor relations website.
Clearwater Analytics (NYSE: CWAN) has partnered with T. Rowe Price to enhance the client experience for insurance clients. The partnership aims to leverage Clearwater's investment accounting and reporting solutions to support T. Rowe Price's growing insurance segment. Clients will benefit from improved access to their records, carrying value calculations, and regulatory support. Clearwater's team will assist T. Rowe Price in portfolio management and reporting. This collaboration emphasizes a commitment to high-quality data and client satisfaction, with onboarding planned over the coming months.
Clearwater Analytics (NYSE: CWAN) has announced a strategic partnership with Flyer Financial Technologies to enhance its SaaS-based investment accounting and reporting solutions. This collaboration will enable joint clients to access FlyerFT's cloud-based portfolio management and order management tools, paired with Clearwater's accounting and reporting capabilities. The partnership aims to deliver a comprehensive front-to-back office platform, providing asset managers with improved technology solutions and efficiencies.
Clearwater Analytics (CWAN) reported strong financial results for Q4 and full year 2021. Q4 revenue reached $69.8 million, up 27.4% YoY, with annual revenue totaling $252.0 million, marking 24.0% growth. The company achieved $277.8 million in Annualized Recurring Revenue (ARR), up 26.3%. Despite a net income of $0.1 million in Q4, the full year ended with a loss of $8.1 million. Adjusted EBITDA also improved to $20.1 million for Q4. The company maintains a gross revenue retention rate of 98% for the last 12 quarters, continuing its growth trajectory.
Clearwater Analytics (NYSE: CWAN) announced that Athora Holding Ltd has selected its services to enhance growth and streamline operations. Athora aims to consolidate its accounting, regulatory, and operational reporting across its international subsidiaries, which include nations like the Netherlands and Germany. Clearwater's SaaS solution will enable rapid onboarding of acquisitions, manage regulatory requirements, and provide a unified view of diverse investment portfolios. This partnership signifies Clearwater's role in addressing the consolidation trend in the insurance and investment management sectors.
Clearwater Analytics (NYSE: CWAN) announced that CFO Jim Cox will present at the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2022 in San Francisco. The event includes a fireside chat and one-on-one meetings. Clearwater, a leader in SaaS-based investment solutions, manages over $5.6 trillion in assets for various clients. The conference webcast will be available on Clearwater’s investor relations website.
Clearwater Analytics (NYSE: CWAN), a leader in SaaS-based investment solutions, announced significant product updates for Q4 2021. These enhancements focus on compliance with the latest accounting and regulatory standards, enriched asset class reporting, and an upgraded user experience. Key updates include NAIC compliance, enhancements for Limited Partnerships, improved Solvency II reports, and new Pledge Manager functionality. With a commitment to client-driven innovation, Clearwater continues to support clients managing over $5.6 trillion in assets, ensuring they can leverage data effectively for business growth.
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