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Mar 31, 2024
Clarivate Q1 2024 Earnings Report
Reported a decrease in revenues and a net loss attributable to ordinary shares due to lower transactional and re-occurring revenues.
Key Takeaways
Clarivate's first quarter results showed a slight decrease in revenues, driven by declines in transactional and re-occurring revenues, which offset growth in subscription revenues. The company reported a net loss attributable to ordinary shares and a decrease in adjusted EBITDA. However, Clarivate reaffirmed its full-year 2024 outlook.
Revenues decreased by 1.3% to $621.2 million.
Organic revenues decreased by 1.7%.
Net loss attributable to ordinary shares was $93.8 million, or $0.14 per diluted share.
Adjusted EBITDA decreased by 6.5% to $236.3 million.
Clarivate
Clarivate
Clarivate Revenue by Segment
Clarivate Revenue by Geographic Location
Revenue by Segment
Subscription Revenue
CapyFin.comRe-occurring Revenue
CapyFin.comTransactional Revenue
CapyFin.comRevenue by Geographic Location
Academia & Government Revenue
CapyFin.comIntellectual Property Revenue
CapyFin.comLife Sciences & Healthcare Revenue
CapyFin.com Forward Guidance
Clarivate reaffirmed its 2024 full year outlook, anticipating a sequential improvement in organic revenue growth in the second quarter compared to the first quarter.
Positive Outlook
- Revenues between $2.57B to $2.67B
- Organic revenue growth between 0% to 2%
- Adjusted EBITDA between $1.055B to $1.115B
- Adjusted EBITDA margin between 41% to 42%
- Adjusted diluted EPS between $0.70 to $0.80
Challenges Ahead
- Assumes no further acquisitions.
- Assumes no further divestitures.
- Assumes no unanticipated events.
- Organic revenue growth is only expected to be between 0% and 2%.
- Free cash flow between $420M to $500M
Revenue & Expenses
Visualization of income flow from segment revenue to net income