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Sep 30, 2021
Clearwater Q3 2021 Earnings Report
Reported revenue of $64.5 million, a 21% increase year-over-year, with a gross revenue retention rate of 98% and a net revenue retention rate of 111%.
Key Takeaways
Clearwater Analytics reported a strong third quarter in 2021, marked by a 21% increase in revenue to $64.5 million and robust retention rates. The company's net loss was $11.4 million, including a $10.3 million loss on debt extinguishment, while non-GAAP net income reached $8.7 million. Clearwater's ARR reached $257.0 million, reflecting continued growth and market penetration.
Revenue reached $64.5 million, up 21% year-over-year.
Gross profit was $46.7 million with a gross margin of 72.4%.
Net loss was $11.4 million, including a $10.3 million loss on debt extinguishment.
ARR reached $257.0 million, a 20% increase year-over-year.
Forward Guidance
The company expects total revenue to be in the range of $66.0 million to $67.0 million for the fourth quarter of 2021. Adjusted EBITDA margin is expected to be approximately 26% for the fourth quarter of 2021.
Positive Outlook
- Total revenue is expected to be in the range of $66.0 million to $67.0 million for the fourth quarter of 2021.
- Implies full-year 2021 revenue of $248.3 million to $249.3 million.
- Full-year revenue growth of 22% to 23%.
- Adjusted EBITDA margin is expected to be approximately 26% for the fourth quarter of 2021.
- Implies full-year 2021 adjusted EBITDA margin of approximately 28%.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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