Clarivate Q3 2024 Earnings Report
Key Takeaways
Clarivate's Q3 2024 revenues decreased by 3.9% to $622.2 million, with a net loss of $65.6 million. The company's performance was impacted by lower transactional sales and the divestiture of Valipat. As a result of the recent CEO transition and the work being done under the Value Creation Plan, the Company has removed its forward-looking outlook for 2024.
Revenues decreased by 3.9% to $622.2 million.
Organic revenues decreased by 2.6%, with subscription revenue growth offset by declines in re-occurring and transactional revenues.
Net loss was $65.6 million, with a net loss per diluted share of $0.09.
Adjusted EBITDA decreased by 6.0% to $264.4 million.
Clarivate
Clarivate
Forward Guidance
As a result of the recent CEO transition and the work being done under the Value Creation Plan, the Company has removed its forward-looking outlook for 2024. All previous outlooks provided by the Company should no longer be relied upon.