Core Insights - Clarivate PLC reported a revenue of $663 million for the quarter ended December 2024, reflecting a 3% decline year-over-year, with EPS at $0.21 compared to $0.23 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $658.05 million by 0.75%, while the EPS also surpassed the consensus estimate of $0.20 by 5% [1] Revenue Breakdown - Intellectual Property revenues were $209.10 million, falling short of the average estimate of $212.56 million, representing a year-over-year decline of 7.3% [4] - Life Sciences & Healthcare revenues totaled $111 million, below the average estimate of $114.48 million, marking a 6.5% decrease year-over-year [4] - Academia & Government revenues reached $342.90 million, exceeding the estimated $333.63 million, showing a 1% increase compared to the previous year [4] - Transactional and other revenues were reported at $144 million, surpassing the average estimate of $130.13 million, but reflecting a 6.4% decline year-over-year [4] - Re-occurring revenues amounted to $112 million, below the average estimate of $121.63 million, indicating a 6% decrease year-over-year [4] - Subscription revenues were $407 million, compared to the average estimate of $425.73 million, representing a slight decline of 0.9% year-over-year [4] Stock Performance - Clarivate's shares have returned -9.9% over the past month, contrasting with the Zacks S&P 500 composite's +4.7% change [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential outperformance against the broader market in the near term [3]

Core Viewpoint - Clarivate PLC (CLVT) reported quarterly earnings of $0.21 per share, exceeding the Zacks Consensus Estimate of $0.20 per share, but down from $0.23 per share a year ago, indicating a 5% earnings surprise [1][2] Financial Performance - The company posted revenues of $663 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.75%, but down from $683.7 million year-over-year [2] - Over the last four quarters, Clarivate has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Clarivate shares have declined approximately 3.5% since the beginning of the year, contrasting with the S&P 500's gain of 4% [3] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.13 on revenues of $603.35 million, and for the current fiscal year, it is $0.72 on revenues of $2.51 billion [7] - The estimate revisions trend for Clarivate is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting expected outperformance in the near future [6] Industry Context - The Computers - IT Services industry, to which Clarivate belongs, is currently ranked in the top 24% of over 250 Zacks industries, indicating a positive outlook for the sector [8]

Revenue Performance - Total revenues for 2024 were $2,556.7 million, a decrease of 2.7% compared to $2,628.8 million in 2023[224]. - Revenues for 2024 were $2,556.7 million, a decrease of $72.1 million or 2.7% compared to 2023[156]. - Subscription revenues increased slightly to $1,626.8 million in 2024 from $1,618.1 million in 2023, while transactional revenues decreased to $500.1 million from $566.1 million[281]. - The Americas segment revenues decreased by $24.1 million or 1.7%, primarily due to lower contributions from A&G and LS&H[161]. - Revenues denominated in non-U.S. dollar currencies represented approximately 26% of total revenues for 2024, with a 10% change in the Euro and British pound potentially impacting annual revenues by approximately $50 million[203]. Contract Value and Renewal Rates - Organic annualized contract value (ACV) grew by 0.9% in 2024 compared to 2023, primarily driven by price increases[128]. - Total ACV declined by 1.1% in 2024 compared to 2023, mainly due to the divestiture of ScholarOne in November 2024[128]. - The annual renewal rate for both 2024 and 2023 remained stable at 92%[130]. Goodwill and Impairment Charges - Total goodwill impairment charges recorded for 2024 amounted to $451.9 million, primarily due to declines in market conditions and share price[144]. - Goodwill impairment charges were $465.7 million in 2024, down from $847.7 million in 2023, primarily due to declines in share price and market conditions[169]. - Goodwill impairment charges totaled $540.7 million in 2024, down from $979.9 million in 2023, indicating a reduction in asset write-downs[224]. - The company performed goodwill impairment assessments using a discounted cash flow model, with a WACC discount rate of 10.5% for A&G and 9% for LS&H[145]. - A 50 basis point increase in the discount rate could have resulted in an additional impairment charge of approximately $62 million for the LS&H reporting unit[145]. Financial Performance and Income - Net income attributable to ordinary shares was a loss of $668.0 million in 2024, an improvement from a loss of $986.6 million in 2023[156]. - The net income (loss) for 2024 was $(636.7) million, an improvement from $(911.2) million in 2023, reflecting a decrease in losses[184]. - The company reported a net loss of $636.7 million for 2024, compared to a net loss of $911.2 million in 2023, reflecting an improvement in financial performance[224]. - Comprehensive loss for 2024 was $(667.7) million, compared to $(740.6) million in 2023 and $(4,952.8) million in 2022[227]. Cash Flow and Capital Expenditures - Free cash flow for 2024 was $357.5 million, down from $501.7 million in 2023, attributed to lower operating results and increased capital spending[190]. - Net cash provided by operating activities decreased by 13% to $646.6 million in 2024 from $744.2 million in 2023, primarily due to lower operating results and higher working capital requirements[188]. - The company expects capital expenditures of approximately $255 million in 2025, primarily for product and content development[197]. - Cash and cash equivalents at the end of 2024 were $295.2 million, down from $370.7 million at the end of 2023[231]. Operating Expenses - Total operating expenses decreased to $2,832.3 million in 2024, down from $3,363.5 million in 2023[156]. - Selling, general and administrative costs decreased by 1.6% compared to 2023, but as a percentage of revenues, they increased by 0.4%[165]. - Depreciation and amortization expenses increased by 2.6% compared to 2023, driven by increased investment in internally developed software and content assets[167]. Debt and Financing - Long-term debt was reported at $4,518.7 million in 2024, a slight decrease from $4,721.1 million in 2023, indicating efforts to manage debt levels[222]. - The total debt outstanding as of December 31, 2024, was $4,571.1 million, down from $4,770.3 million as of December 31, 2023[311]. - The company refinanced its credit facilities in January 2024, extending debt maturities and lowering annual cash interest costs[192]. - The refinancing provides improved financial flexibility, extending debt maturities and lowering annual cash interest costs[317]. Impairment and Restructuring - The company recorded an intangible assets impairment charge of $75.0 million in December 2024 related to the wind-down of three product groups[169]. - Restructuring and other impairments totaled $540.3 million in 2024, a decrease from $986.2 million in 2023[231]. - The company expects to incur approximately $30 million in additional restructuring costs associated with the Value Creation Plan, primarily during 2025[173]. Foreign Currency and Translation - The net foreign exchange loss for 2024 was $4.2 million, compared to a gain of $38.9 million in 2023[269]. - The company reported a foreign currency translation adjustment loss of $(24.7) million in 2024, compared to a gain of $193.6 million in 2023[227]. Internal Controls and Compliance - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the independent auditor's opinion[210]. - As of December 31, 2024, the company was in compliance with all indenture covenants[314].

Financial Performance - Total revenue for Q4 2024 was $663.0 million, a decrease of 3.0% from $683.7 million in Q4 2023[3] - Net loss for Q4 2024 improved to $191.8 million, or $0.27 per diluted share, compared to a net loss of $843.9 million, or $1.30 per diluted share, in Q4 2023[4] - Full year 2024 total revenue was $2.56 billion, down 2.7% from $2.63 billion in 2023[5] - Adjusted EBITDA for Q4 2024 was $285.3 million, a decrease of 4.3% from $298.2 million in Q4 2023[4] - Total revenues for the year ended December 31, 2024, were $2,556.7 million, down 2.7% from $2,628.8 million in 2023[40] - Adjusted EBITDA for Q4 2024 was $285.3 million, with an adjusted EBITDA margin of 43.0%, compared to $298.2 million and 43.6% in Q4 2023[43] - Net income for Q4 2024 was $(191.8) million, improving from $(843.9) million in Q4 2023[43] - The company reported a decline in recurring revenues of 2.1% for the year, totaling $2,056.6 million compared to $2,062.7 million in 2023[40] Cash Flow and Capital Management - Free cash flow for the full year 2024 was $357.5 million, a decrease of 28.7% compared to $501.7 million in the prior year[15] - Free cash flow for Q4 2024 was $59.1 million, down from $127.0 million in Q4 2023[48] - Cash flows from operating activities for the year were $646.6 million, a decrease from $744.2 million in 2023[36] - The company repurchased $200 million of ordinary shares and prepaid $198 million of debt in 2024[1] - The company repurchased ordinary shares worth $200.0 million in 2024, compared to $100.0 million in 2023[36] Revenue Breakdown - Subscription revenues for the full year 2024 increased by $8.7 million, or 0.5%, to $1.63 billion[12] - Subscription revenues for Q4 2024 were $407.0 million, a decrease of 0.9% compared to $410.8 million in Q4 2023[40] - Transactional revenues for Q4 2024 were $144.0 million, a decrease of 6.4% from $153.8 million in Q4 2023[40] - The company achieved organic growth of 0.1% in subscription revenues for the year ended December 31, 2024[40] - Organic Annualized Contract Value (ACV) grew by 0.9% in 2024 compared to 2023, primarily driven by price increases[38] - Total ACV for 2024 declined by 1.1% compared to 2023, mainly due to the divestiture of ScholarOne in November 2024[38] Strategic Initiatives - The company initiated a review of strategic alternatives, including potential divestitures, to maximize shareholder value[16] - The company plans to discontinue certain low-margin transactional products in 2025 and 2026 to improve revenue predictability[8] Future Outlook - The 2025 outlook projects revenues between $2.28 billion and $2.40 billion, with recurring organic revenue growth expected to be flat[20] - Forecasted Net income (loss) for 2025 ranges from $(203) million to $(127) million[50] - Adjusted EBITDA is projected to be between $940 million and $1,000 million, with an Adjusted EBITDA margin of 40.5% to 42.5%[50] - Adjusted diluted EPS is expected to be between $0.60 and $0.70, with a net income (loss) per share ranging from $(0.28) to $(0.18)[51] - Free cash flow is forecasted to be between $300 million and $380 million, with net cash provided by operating activities estimated at $555 million to $635 million[52] - Capital expenditures for 2025 are projected to be $(255) million[52] - The company anticipates restructuring costs of $30 million related to the Value Creation Plan in 2025[50] Asset Management - The total assets decreased from $12,706.8 million in 2023 to $11,490.2 million in 2024, a decline of approximately 9.6%[32] - The company's cash and cash equivalents, including restricted cash, decreased from $370.7 million in 2023 to $295.2 million in 2024, a reduction of 20.3%[36] Expenses - Total operating expenses for Q4 2024 were $725.3 million, significantly lower than $1,471.9 million in Q4 2023[34] - Goodwill and intangible asset impairments for the year were $540.7 million, down from $979.9 million in 2023[34] - Capital expenditures for the year ended December 31, 2024, were $289.1 million, compared to $242.5 million in 2023[48] - Depreciation and amortization expenses are expected to be around $687 million to $697 million[50] - Interest expense is projected to be between $252 million and $262 million[50]

— Accelerates transition from transactional to subscription and re-occurring revenue —— Launches new product innovation for Academia & Government and Life Sciences & Healthcare — — Repurchased $200 million ordinary shares and pre-paid $198 million of debt in 2024 as part of balanced capital allocation strategy —— Initiates review of strategic alternatives including potential divestitures —— Provides 2025 Outlook —LONDON, Feb. 19, 2025 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT) (the "Company" or "Clarivate") ...

New approach enables broad, simple and affordable access to trusted scholarly content for learning and research LONDON, Feb. 18, 2025 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today announced a new subscription-based content access strategy. The new approach breaks down barriers through broad and affordable access to highly curated, trusted academic resources, including Ebooks and primary digital collections, enabling every library to support resear ...

Analysts on Wall Street project that Clarivate PLC (CLVT) will announce quarterly earnings of $0.20 per share in its forthcoming report, representing a decline of 13% year over year. Revenues are projected to reach $658.05 million, declining 3.8% from the same quarter last year.Over the last 30 days, there has been an upward revision of 0.7% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ...

Highly recommended in trademark management, searching and watching, renewals and recordals LONDON, Feb. 10, 2025 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, has been recognized by the World Trademark Review for three categories in the WTR 1000 2025 . This guide identifies the top trademark professionals and firms in key jurisdictions around the globe. Clarivate has been named as highly recommended in the following practice areas : Trademark Managemen ...

Software-as-a-Service, cloud-based library services and discovery platform to be implemented in nine universities and 82 academic and research libraries across Croatia LONDON, Feb. 5, 2025 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, today announced that the National and University Library in Zagreb has selected Clarivate to provide its unified library services and discovery platform. The National and University Library in Zagreb (NSK) is Croatia's le ...

New e-book explores transformative medtech advancements in pulsed field ablation for atrial fibrillation treatment LONDON, Feb. 4, 2025 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT) a leading global provider of transformative intelligence and BioWorld by Clarivate, today published a new e-book, Pulsed field ablation: stunning growth shocks the atrial fibrillation market. The Clarivate e-book highlights new medtech breakthroughs in the pulsed field ablation (PFA) market, forecasting its future growth and showcas ...