Clearwater Analytics Holdings, Inc. - CWAN STOCK NEWS

Clearwater Analytics (NYSE: CWAN), a leading SaaS provider for investment management solutions, has appointed Fleur Sohtz as its new Chief Marketing Officer. With 25 years of experience in scaling high-growth companies, Sohtz brings expertise in achieving double-digit revenue growth and creating integrated marketing programs. Her appointment is part of Clearwater's strategy to evolve its brand and accelerate client success.

CEO Sandeep Sahai highlighted Sohtz's extensive CMO experience in financial services and technology sectors, emphasizing her ability to lead transformative marketing teams that drive growth. Sohtz's role will be important in reaching new clients and partners as Clearwater continues its journey toward becoming a multi-product company, focusing on cross-sell and upsell efforts, and delivering solutions across the entire investment lifecycle.

Clearwater Analytics (NYSE: CWAN) has released its 2024 State of Investment Data Management study, revealing important insights for the investment industry. The study, based on responses from 130 investment professionals, highlights that 60% of firms focus on organic investment performance for AUM growth. Notably, 48% of institutional investors identify client engagement as the primary driver of investment flows.

The research also exposes inefficiencies in data management, with 44% of firms still relying on manual tools like Excel for client reporting, and 21.3% spending 60-80% of their time on client inquiries. However, 41.2% of firms use outsourced third-party tools, indicating a shift towards specialized solutions. The study emphasizes the need for investment in technology to enhance client engagement and operational efficiency.

Clearwater Analytics (NYSE: CWAN) announced that La France Mutualiste, a French mutual insurance group, has successfully transitioned its unit-linked activities to Clearwater's JUMP ULF platform. This move marks a significant digital transformation for La France Mutualiste, aiming to automate investment operations and enhance efficiency. With €10 billion in assets under management, La France Mutualiste selected Clearwater to streamline processes such as order entry, reconciliation, reporting, and custodian communication.

The implementation of Clearwater JUMP ULF is expected to secure investment operations, optimize processes, and transition to a modern technical architecture. This partnership allows La France Mutualiste to focus on high-impact, strategic work while reducing manual tasks and potential risk exposure.

Clearwater Analytics (NYSE: CWAN) has launched a new Commercial Paper (CP) Issuance tool for institutional investors. This SaaS-based solution aims to modernize and streamline the CP issuance process, replacing spreadsheet-dependent and manual methods. The tool includes:

1. Issuance Manager for setting rates and allocations
2. Rates Research module for benchmarking and reporting
3. Dashboards for customized reporting
4. Issuance Tracker for real-time monitoring

The tool is designed to provide a comprehensive overview of CP issuances, enhance operational efficiency, and ensure compliance. Clearwater Analytics, which manages over $7.3 trillion in assets, expects this solution to set a new industry standard for operational excellence in the CP market.

Clearwater Analytics (NYSE: CWAN) announced its Q2 2024 results with record revenue of $106.8M, up 19% YoY. The company achieved a net income of $0.3M, a significant improvement from the $11.9M loss in Q2 2023. Adjusted EBITDA rose 35% to $33.4M. Annualized Recurring Revenue (ARR) increased by 22% YoY to $427.2M. Operating cash flows surged by 108% to $43.9M. Key metrics include a gross revenue retention rate of 99% and a net revenue retention rate of 110%. The company completed the acquisition of an advanced analytics platform from Wilshire Advisors. Future guidance projects Q3 revenue between $113M to $114M, with full-year revenue expected to grow by 20%-21% to $442M-$444M. Adjusted EBITDA is forecasted at $36M for Q3 and $140M for the full year, maintaining a 32% margin. A conference call is scheduled for July 31, 2024, at 5:00 PM ET to discuss these results.

Clearwater Analytics (NYSE: CWAN), a leading SaaS provider for investment management solutions, has announced its participation in several investor conferences during Q3 2024. CFO Jim Cox will represent the company at:

1. Oppenheimer's 27th Annual Technology, Internet & Communications Conference (virtual) - August 13, 2024
2. Citi's 2024 Global TMT Conference in New York City - September 5, 2024
3. Goldman Sachs Communacopia + Technology Conference in San Francisco - September 9, 2024
4. Piper Sandler Growth Frontiers Conference in Nashville - September 11, 2024

Mr. Cox will participate in fireside chats and one-on-one meetings at these events. Webcasts of the fireside chats will be available on Clearwater Analytics' investor relations website.

Clearwater Analytics Holdings, Inc. (NYSE: CWAN), a leading provider of SaaS-based investment management solutions, has announced it will release its second quarter 2024 financial results on Wednesday, July 31, 2024, after the U.S. financial markets close. The company will host a conference call and live webcast at 5:00 p.m. ET on the same day to discuss the results.

Interested parties can access the webcast through Clearwater Analytics' investor relations website. Participants are required to register in advance and install any necessary audio software. Following the event, a replay of the webcast, press release, financial tables, and call transcript will be available on the company's investor relations website.

Clearwater Analytics (NYSE: CWAN) has been chosen by Franklin Templeton to enhance its stable value fund management. The Clearwater for Stable Value solution will provide Franklin Templeton with scalable investment technology, daily portfolio insights, and specialized capabilities to support its expansion into separate accounts and new mandates. This partnership aims to drive growth within Franklin Templeton's stable value fund business by offering enhanced tools for managing complex fund structures, securities, and specialized accounting treatment.

The collaboration will enable Franklin Templeton to improve processes, increase transparency, and facilitate communication with industry counterparts. Clearwater's solution includes features such as contract value accounting, crediting rate calculations, and contract trading within a comprehensive web-based platform. This selection by Franklin Templeton underscores Clearwater's position as a leading provider of SaaS-based investment management solutions, serving various sectors including insurers, asset managers, corporations, and governments.

Clearwater Analytics (NYSE: CWAN) has announced a partnership with Pool Re, a UK government-backed terrorism reinsurer with £7.0bn in funds. Pool Re will transition from a custodian-based model to Clearwater's SaaS-based investment accounting and reporting platform. This change aims to enhance data timeliness and accuracy, streamline monthly close processes, and enable strategic decision-making. The scalable Clearwater platform will help Pool Re adapt to market dynamics and meet HM Treasury reporting requirements. The collaboration signifies Clearwater's expanding presence in the UK market.