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Jun 30, 2024
Clearwater Q2 2024 Earnings Report
Clearwater Analytics reported strong Q2 2024 earnings with significant growth in revenue, ARR, and adjusted EBITDA.
Key Takeaways
Clearwater Analytics announced strong second-quarter results, marked by a 19% year-over-year increase in revenue to $106.8 million and a 22% rise in Annual Recurring Revenue (ARR) to $427.2 million. The company's adjusted EBITDA grew by 35% year-over-year, reaching $33.4 million, and free cash flow increased by 117%.
Revenue increased by 19% year-over-year, reaching $106.8 million.
ARR grew by 22% year-over-year, totaling $427.2 million.
Adjusted EBITDA increased by 35% year-over-year, amounting to $33.4 million.
Free cash flow increased by 117% compared to the previous year.
Clearwater
Clearwater
Forward Guidance
Clearwater Analytics provided guidance for the third quarter and full year of 2024, expecting continued revenue growth and strong adjusted EBITDA margins.
Positive Outlook
- Revenue is expected to be between $113 million and $114 million for Q3 2024.
- Full-year revenue is projected to be between $442 million and $444 million.
- Adjusted EBITDA is anticipated to be $36 million for Q3 2024.
- Full-year adjusted EBITDA is expected to be $140 million.
- Adjusted EBITDA margin is projected to be approximately 32% for both Q3 and the full year.
Challenges Ahead
- Total equity-based compensation expense and related payroll taxes are expected to be approximately $106 million for the full year.
- Depreciation and Amortization is expected to be approximately $12 million for the full year.
- Non-GAAP effective tax rate is projected at 25%.
- Diluted non-GAAP share count is expected to be approximately 258 million.
- Certain components of the guidance are provided on a non-GAAP basis without a reconciliation to GAAP basis.