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Jun 30, 2022
Clearwater Q2 2022 Earnings Report
Clearwater Analytics reported a strong second quarter, achieving record quarterly revenue and demonstrating continued growth through new client acquisitions.
Key Takeaways
Clearwater Analytics announced strong Q2 2022 financial results, with a revenue increase of 20.6% year-over-year, reaching $73.4 million. The company continues to grow by adding new clients and displacing competitors. Operating cash flow generation of $18.3 million and free cash flow of $16.5 million.
Total revenue for the second quarter of 2022 reached $73.4 million, an increase of 20.6% from $60.9 million in the second quarter of 2021.
Gross profit for the second quarter of 2022 was $52.5 million, compared with $45.3 million in the second quarter of 2021.
Net loss for the second quarter of 2022 was $2.2 million compared with net loss of $0.2 million in the second quarter of 2021.
As of June 30, 2022, the net revenue retention rate was 104% which is a decline from 107% as of March 31, 2022.
Forward Guidance
Clearwater Analytics provided guidance for the third quarter and full year of 2022.
Positive Outlook
- Revenue for Q3 2022 is expected to be between $74.5 million and $75 million.
- Full year 2022 revenue is projected to be between $298 million and $300 million.
- Year-over-year growth for Q3 2022 is expected to be approximately 16%.
- Full year 2022 year-over-year growth is projected to be approximately 19%.
- Adjusted EBITDA for Q3 2022 is expected to be between $19 million and $19.5 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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