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Dec 31, 2023
Clearwater Q4 2023 Earnings Report
Clearwater Analytics' Q4 2023 financial results were announced, featuring revenue growth and improved profitability.
Key Takeaways
Clearwater Analytics reported a strong Q4 2023 with revenue reaching $99.0 million, a 20% increase year-over-year. The company's adjusted EBITDA margin was 30.3%, and free cash flow was $22.5 million. Clearwater Analytics ended the year with $379.1 million in Annualized Recurring Revenue (ARR), reflecting a 17.2% year-over-year growth.
Revenue for Q4 2023 reached $99.0 million, representing a 20% increase year-over-year.
The company's Annualized Recurring Revenue (ARR) grew to $379.1 million, a 17.2% increase year-over-year.
Adjusted EBITDA margin for Q4 2023 was 30.3%.
Gross Revenue Retention Rate stood at 98%, while Net Revenue Retention Rate was 107%.
Forward Guidance
Clearwater Analytics anticipates revenue of approximately $100.5 million and an adjusted EBITDA of $28.8 million for the first quarter of 2024. For the full year 2024, the company projects revenue between $431 million and $437 million and an adjusted EBITDA between $135 million and $137 million.
Positive Outlook
- Revenue is expected to be approximately $100.5 million for Q1 2024.
- Adjusted EBITDA is anticipated to be $28.8 million for Q1 2024.
- Full year 2024 revenue is projected to be between $431 million and $437 million.
- Full year 2024 adjusted EBITDA is expected to range from $135 million to $137 million.
- The company anticipates a year-over-year revenue growth of approximately 17% to 19% for the full year 2024.
Challenges Ahead
- Certain components of the guidance are provided on a non-GAAP basis without a reconciliation to GAAP.
- The company does not have access to certain information needed to provide a GAAP reconciliation.
- Guidance includes estimates for total equity-based compensation expense and depreciation and amortization.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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