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Sep 30, 2024
Clearwater Q3 2024 Earnings Report
Clearwater Analytics reported record quarterly revenue, ARR growth, and strong adjusted EBITDA and cash flow generation.
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%.
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
Historical Earnings Impact
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