Clearwater Q4 2022 Earnings Report
Key Takeaways
Clearwater Analytics announced strong Q4 2022 financial results, with revenue reaching $82.7 million, up 18.5% year-over-year. The company's ARR grew to $323.5 million, a 16.4% increase year-over-year, and it maintained a high gross revenue retention rate of 98% and a net revenue retention rate of 106%.
Q4 2022 revenue increased by 18.5% year-over-year to $82.7 million.
ARR reached $323.5 million, up 16.4% year-over-year.
Gross revenue retention rate was 98%, and net revenue retention rate was 106%.
The company completed the acquisition of JUMP Technology, contributing $2.7 million in revenue during the quarter.
Clearwater
Clearwater
Forward Guidance
Clearwater Analytics provided guidance for Q1 2023 and Full Year 2023, projecting revenue of $83 million for Q1 and $361 million to $364 million for the full year. Adjusted EBITDA is expected to be $20 million for Q1 and $97 million to $98 million for the full year.
Positive Outlook
- Projected Q1 2023 revenue of $83 million.
- Projected full year 2023 revenue between $361 million and $364 million.
- Q1 2023 year-over-year growth of approximately 17%.
- Full year 2023 year-over-year growth between approximately 19% to 20%.
- Full year Adjusted EBITDA between $97 million and $98 million.
Challenges Ahead
- Equity-based compensation is estimated at approximately $80 million.
- Equity-based compensation for JUMP Technology post-acquisition is estimated at approximately $25 million.
- Depreciation and Amortization is estimated at approximately $9 million.
- Non-GAAP effective tax rate of 25%.
- Diluted non-GAAP share count of approximately 255 million.