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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 (NYSE: CWAN) announces its selection by INTÉRIALE Mutual for investment accounting and reporting services. This partnership allows INTÉRIALE, which serves over 1,000 local authorities in France, to enhance its accounting framework with multi-basis capabilities and save significant time during financial closings. Clearwater's platform is praised for its automated data aggregation and user-friendly interface, promising a seamless transition and improved operational efficiency. Clearwater manages over $5.9 trillion in assets daily, showcasing its leadership in SaaS solutions.
Clearwater Analytics (CWAN) and the Insurance Asset Outsourcing Exchange published the 2022 Insurance Investment Outsourcing Report, highlighting a 15% growth in global third-party investment management assets totaling $3.4 trillion, driven by large insurers outsourcing core mandates and seeking specialized investment solutions. North America experienced an 18% increase, with alternative investments gaining traction, comprising 24% of new mandates in 2021. Despite challenges from industry consolidation and COVID, Clearwater has witnessed significant client growth, with many increasing allocations in non-traditional asset classes by over 25%.
Clearwater Analytics (NYSE: CWAN) and LiquidityBook have announced a collaboration to provide a complete portfolio investment and operations experience. This integration combines LiquidityBook's cloud-native trade execution, portfolio management, and compliance solutions with Clearwater's accounting and reporting capabilities. The partnership aims to enhance efficiency for buy-side and outsourced traders by delivering a seamless, scalable solution. Both companies emphasize their commitment to technology integration, with mutual clients already experiencing improved operational processes.
Clearwater Analytics (NYSE: CWAN) has been selected by MSIG, a subsidiary of Mitsui Sumitomo Insurance, to support its transformation strategy and standardize its operational model. This partnership aims to provide a consolidated view of data and analytics across MSIG's entities in Asia, including Hong Kong, Malaysia, and Thailand. MSIG will utilize Clearwater's Insurance-Investment Accounting as a Service (IAaaS) platform to enhance digital capabilities and support growth while reinforcing its market position in the region.
Clearwater Analytics (NYSE: CWAN) announced significant product enhancements in Q1 2022 to improve investment accounting and reporting solutions. Key updates include support for NAIC 2022 guidelines, enhanced Schedule B reporting for mortgage loans, and improvements to solvency reports. New features also introduce a cumulative catch-up method for accounting and updates for LIBOR cessation. Clearwater aims to ensure compliance with evolving regulations, enabling clients to focus on increasing their investment returns. The firm services over 1,100 clients with a total of $5.9 trillion in assets under management.
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.
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