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Jun 30, 2024
Clarivate Q2 2024 Earnings Report
Clarivate's financial performance saw a revenue decrease, offset by subscription revenue gains, and reaffirmed its 2024 outlook.
Key Takeaways
Clarivate reported a 2.8% decrease in revenues to $650.3 million, with organic revenues down 0.6%. Subscription revenues increased, but were offset by declines in re-occurring and transactional revenues. The company reaffirmed its 2024 outlook, expecting a return to organic growth in the second half of the year.
Revenues decreased by 2.8% to $650.3 million.
Organic revenues decreased by 0.6%.
Subscription revenues saw a slight increase of 0.7%.
Adjusted EBITDA decreased by 3.7% to $274.4 million.
Clarivate
Clarivate
Forward Guidance
Clarivate reaffirms its 2024 outlook, expecting full-year financial results to align with previous expectations. The company plans a more balanced approach to capital allocation in the second half of 2024.
Positive Outlook
- Revenues between $2.57B and $2.67B
- Organic Revenue Growth between 0% and 2%
- Adjusted EBITDA between $1.055B and $1.115B
- Adjusted EBITDA Margin between 41% and 42%
- Adjusted Diluted EPS between $0.70 and $0.80