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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) reported strong Q3 2024 financial results with record quarterly revenue of $115.8 million, up 22.4% year-over-year. The company achieved net income of $4.8 million, compared to a net loss in Q3 2023, and Adjusted EBITDA of $38.3 million, up 34.3%. Key metrics showed robust performance with Annualized Recurring Revenue reaching $456.9 million (up 26.1%), a gross revenue retention rate of 99%, and net revenue retention rate of 114%. The company announced an agreement to terminate its Tax Receivable Agreement for $72.5 million, expected to generate significant future savings.
Clearwater Analytics (NYSE: CWAN) has announced a strategic integration with Snowflake to enhance data management capabilities for asset managers. The collaboration integrates Clearwater's investment data management solution, Prism, with Snowflake's AI Data Cloud. The integration offers key features including data collaboration through Snowflake Marketplace, seamless integration of Clearwater's datasets, direct data access without copying, advanced AI tools with natural language queries, and streamlined regulatory and investment reporting. This partnership aims to simplify how institutional asset managers and asset owners utilize their data, enabling faster insights and decision-making.
Clearwater Analytics (NYSE: CWAN) has announced it will release its third quarter 2024 financial results after U.S. market close on November 6, 2024. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results. Investors can access the webcast through the company's investor relations website, where they must register and install necessary audio software beforehand. A replay of the webcast, financial tables, press release, and call transcript will be available on the investor relations website after the event.
Clearwater Analytics (NYSE: CWAN) announced its executive leadership team's participation in three major investor conferences in Q4 2024. CEO Sandeep Sahai will attend the RBC Capital Markets Global TIMT Conference in New York (Nov 19-20), while CFO Jim Cox will participate in the UBS Global Technology and AI Conference in Scottsdale (Dec 2-3) and Wells Fargo's TMT Summit in Rancho Palos Verdes (Dec 4). The company, which manages over $7.3 trillion in assets through its SaaS-based investment management platform, will provide webcasts of the fireside chats on its investor relations website.
Clearwater Analytics (NYSE: CWAN) has announced key leadership appointments to strengthen its EMEA expansion. Adrien de La Grange joins as Head of Sales for France, Belgium, and Luxembourg, bringing 17 years of experience from BlackRock. Amina Troger becomes Head of Global Delivery for EMEA, with 20 years of fintech experience. Jose Salas takes on the role of Head of Partnerships and Alliances for EMEA, leveraging his extensive experience in sales partnerships and strategy.
These appointments reflect Clearwater's commitment to localizing its global offerings and delivering customer success. The company recently won the Investment & Portfolio Management Technology of the Year award at the Insurance Investor European Awards. New clients in the region include CCR, Erste Asset Management, and AXA XL's Alternative Capital Team. Clearwater's SaaS solution manages over $7.3 trillion in assets across traditional and alternative types.
Clearwater Analytics (NYSE: CWAN) has launched Clearwater Insights, a powerful peer benchmarking solution for CFOs and treasury teams. This new product enables users to conduct benchmarking analyses across Clearwater's daily investment data portfolio, facilitating better decision-making and return optimization. Key benefits include:
- Informed decision-making
- Objective analysis
- Comprehensive benchmarking
Clearwater Insights allows users to compare their performance against fully customizable peer cohorts, including the Clearwater Corporate Treasury Index of 400+ portfolios. The solution addresses the need for accurate industry performance metrics and transparency, helping financial leaders make strategic investment decisions tailored to their specific needs.
Clearwater Analytics (NYSE: CWAN) announced the winners of its 2024 Client Excellence Awards at Clearwater Connect. The awards recognize individuals, teams, and firms that have achieved growth, operational excellence, and transformations using Clearwater's SaaS-based investment management platform.
Winners include:
- Power Users: Alicia Hill Janowiak (ARMOUR Capital Management LP), Judy Wang (SSI Investment Management), Ryan Rafferty (Securian Financial), Stephen Rivera (Pan-American Life Insurance Group)
- Trailblazer: T. Rowe Price
- Growth Enabler: F/m Investments
- MVP: Andrea Petersen (Kuvare), Joe Fessenden (Prosperity Life Group), Eric Simm (Wellington Management Company)
- Operational Excellence: Neuberger Berman
- Partnered for Success: Fortitude Re, UBS
Clearwater Analytics serves leading insurers, asset managers, corporations, and governments, managing over $7.3 trillion in assets across traditional and alternative types.
Clearwater Analytics (NYSE: CWAN) is set to host Clearwater Connect 2024 on September 17-18 at the Boise Centre. The conference, themed 'Better Together 2.0: Empowering Performance,' will showcase the company's latest innovations in investment management, accounting, reporting, and analytics. Highlights include:
- Demonstrations of new solutions for data management, reporting, and regulatory compliance
- Keynote address by Olympic gold medalist Kristin Armstrong
- Industry expert speakers from companies like J.P. Morgan Asset Management and Resolution Life
- Women in Finance networking breakfast
- Accreditation tracks for continuing education credits
- Product Labs and Workshops for hands-on experience
The event aims to bring together hundreds of professionals to explore Clearwater's platform and discuss market trends, emerging technologies, and regulatory changes.
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.
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