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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) 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.
Clearwater Analytics (NYSE: CWAN) announced the winners of its Europe & Asia Client Awards, recognizing Aegon AM, Antares, Aviva, Resolution Re, and RiverStone International for their operational excellence in investment accounting.
The awards were presented at Clearwater Connect in London, celebrating clients leveraging Clearwater's technology to drive performance and strategic growth.
Key winners include:
- Sam Hayes from Antares, awarded Feature Fanatic.
- Aegon AM, recognized as First Mover.
- RiverStone International, named Growth Enabler.
- Pam Williams from Resolution Re, honored as Power User.
- Aviva Plc, celebrated as Partnered for Success.
Clearwater Analytics highlights their SaaS solution's role in automating investment lifecycles for clients managing over $7.3 trillion in assets.
Clearwater Analytics (NYSE: CWAN) announced that Galilée Asset Management (AM) will implement Clearwater JUMP to consolidate fund and wealth activities. This move supports Galilée AM's rapid growth and recent acquisitions. Based in France, Galilée AM specializes in equity and fixed income investment management. Clearwater JUMP provides end-to-end asset management, enhancing efficiency, reducing costs, and streamlining operations for Galilée AM. The platform will offer a cohesive view across all entities, improving reporting and middle-office activities. The partnership aims to drive sustainable growth and operational excellence.
Clearwater Analytics (NYSE: CWAN) has been selected by AXA XL's alternative capital team to provide investment accounting services. AXA XL, a leading global property and casualty re/insurer, chose Clearwater for its reliable and comprehensive investment management solutions. Clearwater will support AXA XL's investment portfolio by meeting complex accounting and regulatory requirements. This partnership underscores Clearwater's role in simplifying investment workflows and providing accurate, single-source investment analytics.
Clearwater's SaaS-based platform manages over $7.3 trillion in assets and is used by insurers, asset managers, and governments for efficient, scalable investing. This collaboration highlights Clearwater's commitment to delivering cutting-edge solutions to meet strategic growth and regulatory needs in a dynamic market.
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