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Mar 31, 2022
Clearwater Q1 2022 Earnings Report
Clearwater Analytics reported strong financial results, achieving significant top-line growth and adding marquee clients.
Key Takeaways
Clearwater Analytics announced its Q1 2022 financial results, with total revenue reaching $70.8 million, a 24.4% increase year-over-year. The company's ARR reached $287.1 million, a 23.5% increase year-over-year, and the gross revenue retention rate remained strong at 98%.
Total revenue for the first quarter of 2022 reached $70.8 million, an increase of 24.4% from $56.9 million in the first quarter of 2021.
ARR reached $287.1 million, an increase of 23.5% from $232.5 million as of March 31, 2021.
Gross revenue retention rate was 98% for thirteen consecutive quarters.
Net revenue retention rate was 107%.
Clearwater
Clearwater
Forward Guidance
The company raised its full-year revenue guidance, which they now expect to be in the range of $303 million to $305 million.
Positive Outlook
- Revenue for Q2 2022 is expected to be $73 million to $73.5 million.
- Full year revenue is expected to be $303 million to $305 million.
- Adjusted EBITDA for Q2 2022 is expected to be $19 million to $20 million.
- Full year Adjusted EBITDA is expected to be $80 million to $82 million.
- Demand for differentiated solution remains strong from both new and existing clients