BOISE, Idaho, Feb. 8, 2024 /PRNewswire/ -- Clearwater Analytics Holdings, Inc. (NYSE: CWAN), ("Clearwater Analytics" or the "Company"), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that a member of its executive leadership team will be participating in the following investor conferences in the first quarter of 2024. Clearwater Analytics Chief Financial Officer Jim Cox will join a fireside chat and participate in one-on-one meetings a ...

Nieuwe Managing Director stimuleert groei Clearwater in Europa & APACBOISE, Idaho en LONDEN, 7 februari 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), een toonaangevende leverancier van SaaS-gebaseerde oplossingen voor beleggingsbeheer, accounting, rapportage en analyse, kondigde vandaag de benoeming aan van Keith Viverito tot Managing Director EMEA. Viverito heeft meer dan 20 jaar ervaring in snelgroeiende bedrijven die op de financiële markten actief zijn. Hij brengt een grote ervaring in het lev ...

New Managing Director to Drive Clearwater Growth in Europe & APACBOISE, Idaho and LONDON, Feb. 7, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced the appointment of Keith Viverito as Managing Director, EMEA. With over 20 years of experience in high-growth companies serving financial markets, Viverito brings a strong track record of delivering exceptional results and a passion for p ...

Leading Reinsurer Gains Front-, Middle- and Back- Office Coverage with Modular, All-in-One Solution BOISE, Idaho, and PARIS, Feb. 5, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that Paris, France based Caisse Centrale de Réassurance (CCR), a top reinsurer, has chosen Clearwater to power its entire investment management processes and streamline its unlisted assets workflow. CCR ...

InsuranceAsia News Recognizes Clearwater Analytics' Excellence in Investment Management TechnologyBOISE, Idaho and SINGAPORE, Jan. 29, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that InsuranceAsia News has named Clearwater Analytics the winner of the Technology Provider of the Year Excellence Award for the second year in a row. Clearwater Analytics Wins the InsuranceAsia ne ...

Note 7. Supplemental Consolidated Balance Sheet Information Accounts Receivable, net | --- | --- | --- | --- | --- | |------------------------------------|-------|------------------------------------|-------|-------------------------------| | Deferred tax liabilities | $ | September 30, \n2023 \n4,756 | $ | December 31, \n2022 \n5,932 | | Acquisition holdback liability | | 3,650 | | 3,496 | | Asset retirement obligation | | 155 | | 119 | | Other long-term liabilities | $ | 8,561 | $ | 9,547 | Note 8. Leases ...

Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Joon Park - Head, Investor Relations Sandeep Sahai - Chief Executive Officer Jim Cox - Chief Financial Officer Conference Call Participants Rishi Jaluria - RBC Ella Smith - JPMorgan Michael Infante - Morgan Stanley David Unger - Wells Fargo Peter Heckmann - D.A. Davidson Gabriela Borges - Goldman Sachs Dylan Becker - William Blair Brian Schwartz - Oppenheimer Operator Thank you f ...

Company Overview - Clearwater Analytics aims to be the world's most trusted and comprehensive technology platform for investment accounting and analytics[9,31] - The company has a durable and reliable growth model with a recurring revenue model, providing a mission-critical platform to clients[16] - Clearwater Analytics has a high-quality business and financial profile with meaningful operating leverage, consistently profitable for the last 4 years, with a path to 40% adjusted EBITDA margin[16] - The company's disruptive technology platform has deep competitive moats, with a sustained competitive win rate of approximately 80%[16,55] - Clearwater Analytics has multiple drivers for continued growth, with continued investment expanding the core total addressable market (TAM) from $47 billion to $59 billion, moving the total addressable market from $10 billion to $11 billion[16,108] - The company focuses on clients, helping them grow their business or enhance their ability to invest across asset classes and geographies[16] Financial Performance - The company's Annual Recurring Revenue (ARR) has grown significantly from 2016 to 2022[11] - Clearwater Analytics has a 100% SaaS revenue model[12] - The company's Q2 2023 EBITDA margin is approximately 28%, making it a ~Rule of 50 company with a score of 47%[12,130] - Clearwater Analytics has a strong Net Revenue Retention (NRR) rate of 109% as of June 30, 2023[16] - In FY 2022, international revenue accounted for 14% of the total, up from 9% in FY 2021[105] Client Satisfaction - Clearwater Analytics has a high Net Promoter Score (NPS) of 60+[16,34] - The company has a gross revenue retention rate of 98% for 17 out of the past 18 quarters[34,124]

Financial Data and Key Metrics Changes - In Q2 2023, Clearwater Analytics reported revenue of $89.9 million, representing a year-over-year growth of 22.4% driven by solid expansion at existing clients and strong onboarding activity [17][18] - Adjusted EBITDA for Q2 was $24.8 million, with an EBITDA margin of 27.6%, exceeding guidance by $2 million [20][49] - Free cash flow for Q2 was $19.6 million, reflecting an 18.5% year-over-year growth [23] - The company raised its full-year revenue guidance to a range of $364 million to $366 million, indicating a growth of approximately 20% to 21% year-over-year [24][49] Business Line Data and Key Metrics Changes - The average go-live time for clients decreased to approximately six months, showcasing improved operational efficiency [7][42] - Annualized recurring revenue (ARR) at the end of Q2 was $349.5 million, a 20.4% increase year-over-year [42] - Net revenue retention rate (NRR) improved to 109% as of June 30, 2023, indicating success in expanding services within existing clients [43][81] Market Data and Key Metrics Changes - The demand environment remains strong across key industries including insurance, asset management, corporates, and government, with a growing pipeline of deals [8][34] - The company has seen significant growth in Europe, particularly in Northern Europe and the French and Benelux markets [34][35] Company Strategy and Development Direction - Clearwater Analytics is focusing on operational excellence, addressing client pain points, and enhancing its commercial model, which has transitioned to a base plus pricing structure [11][40] - The company is investing in R&D to expand its platform capabilities, particularly in Europe and Asia, and is working on generative AI solutions to improve client service and operational efficiency [12][14][38] - A strategic partnership with JPMorgan Asset Management was announced, integrating Clearwater's platform with Morgan Money, which is expected to enhance client engagement and onboarding [33][98] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future growth, citing strong client retention and satisfaction as key drivers [18][66] - The macro environment is viewed as stable, with confidence in the new commercial model to mitigate risks [130][131] - The company is excited about the potential of generative AI to transform operations and enhance client interactions [55][100] Other Important Information - Non-GAAP gross profit for Q2 was $68.1 million, with a gross margin of 75.8%, slightly improving from the previous year [60] - The company ended the quarter with $277.8 million in cash and cash equivalents, resulting in net cash holdings of approximately $229 million [47] Q&A Session Summary Question: Can you comment on the onboarding process and client sizes? - Management noted that onboarding includes both new clients and additional assets from existing clients, with a focus on improving the collaborative onboarding process [70][72] Question: How does generative AI impact onboarding and efficiency? - Management believes generative AI can significantly enhance onboarding efficiency and reduce time to value for clients [78][102] Question: What is the outlook for net revenue retention and product attach rates? - Management indicated that the improvement in NRR is sustainable and linked to the successful implementation of the new commercial model and product offerings [106][108] Question: How is the competitive landscape evolving? - Management sees a strong competitive position, particularly with the unique features of their platform, and noted opportunities arising from competitor acquisitions [120][118]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ______________________________________ FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40838 Clearwater Analytics Holdings, Inc. (Exact Name of Registrant as Sp ...