Clearwater Q3 2024 Earnings Report
Key Takeaways
Clearwater Analytics announced strong Q3 2024 results, with record revenue of $115.8 million, a 22% year-over-year increase. Annualized Recurring Revenue (ARR) reached $456.9 million, up 26% year-over-year. Net income was $4.8 million, and adjusted EBITDA grew by 34% to $38.3 million. The company also highlighted its investments in R&D and new products, as well as an agreement to terminate the Tax Receivable Agreement.
Clearwater Analytics achieved record quarterly revenue of $115.8 million, representing a 22% year-over-year increase.
Annualized Recurring Revenue (ARR) grew to $456.9 million, a 26% increase compared to the previous year.
The company reported net income of $4.8 million, a significant improvement from a net loss in the same quarter last year.
Adjusted EBITDA increased by 34% to $38.3 million, with a margin of 33.1%.
Clearwater
Clearwater
Forward Guidance
Clearwater Analytics provided guidance for Q4 2024 and full year 2024.
Positive Outlook
- Q4 2024 Revenue: $120.2 million
- Q4 2024 Year-over-Year Growth: ~21%
- Q4 2024 Adjusted EBITDA: $38.5 million
- Q4 2024 Adjusted EBITDA Margin: ~32%
- Full Year 2024 Revenue: $445.5 million
Challenges Ahead
- Full Year 2024 Year-over-Year Growth: ~21%
- Full Year 2024 Adjusted EBITDA: $142.5 million
- Full Year 2024 Adjusted EBITDA Margin: ~32%
- Total Equity-based compensation expense and related payroll taxes: ~$106 million
- Depreciation and Amortization: ~$12 million