BOISE, Idaho and PARIS, June 12, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that AXA XL's alternative capital team has selected Clearwater to provide strategic support for a portion of its investment portfolio. As one of the world's largest property and casualty re/insurers, AXA XL provides insurance and risk management products and services for mid-sized companies t ...

London-Based Global Investment Manager to Scale and Drive Growth With Clearwater PRISM BOISE, Idaho and LONDON, June 11, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced M&G Investments, a leading international asset manager and part of M&G plc, has selected Clearwater Analytics as its SaaS-based investment accounting solution for timely, accurate, and comprehensive invest ...

Shares of the Common Stock are being offered in this proposed offering pursuant to an automatically effective shelf registration statement on Form S-3 filed with the United States Securities and Exchange Commission (the "SEC") on March 8, 2023. A prospectus relating to and describing the terms of the proposed offering will be filed with the SEC and may be obtained from: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 800-831-9146; or by accessing t ...

New Research Uncovers Key Trends, Opportunities and Challenges for Institutional Investors in Alternative Investments BOISE, Idaho, May 30, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced the release of its 2024 State of Alternatives study. The report, encompassing over 230 executive participants from sectors including insurance, wealth and asset management, corporate and ...

Go-To Resource for Insurance Firms Outsourcing Investment Management Reveals Market Trends Toward Private Asset Classes BOISE, Idaho, May 28, 2024 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced the release of the 2024 Insurance Investment Outsourcing Report (IIOR). The eleventh annual 'Yellow Pages' of insurance-focused asset managers includes 70 asset managers and 12 investm ...

Core Insights - Clearwater Analytics has announced that Erste Asset Management GmbH has joined its community of European buy-side clients, managing €81.4 billion in assets [1][4] - Erste AM selected Clearwater's cloud-native client reporting platform, PRISM, to enhance digital client experiences and provide customized reporting [2][3] Company Overview - Clearwater Analytics is a leading provider of SaaS-based investment management solutions, automating the entire investment lifecycle for clients managing over $7.3 trillion in assets [5] - Erste Asset Management coordinates all asset management activities within Erste Group Bank AG, with a significant presence in Central and Eastern Europe [4] Product Features - The Clearwater PRISM platform allows clients to configure insights and analytics, enabling self-service access to data and quick reporting changes [2][3] - PRISM is designed to centralize reporting across multiple systems, modernizing the operating model and enhancing client reporting experiences [3]

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 March 31, 2024 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 Holdin ...

The GenAI firewall solution proactively intercepts malicious inputs and harmful AI responses in real time from one, centralized, easy-to-use console  SAN FRANCISCO, May 2, 2024 /PRNewswire/ -- Galileo, a leader in developing generative AI for the enterprise, today announced the release of Galileo Protect®, a real-time GenAI firewall solution that proactively intercepts malicious inputs and stops harmful responses, such as hallucinations, in Large Language Model (LLM) applications. Building on the success of ...

[Q1 2024 Financial & Business Highlights](index=1&type=section&id=Q1%202024%20Financial%20%26%20Business%20Highlights) [Financial Performance Summary](index=1&type=section&id=First%20Quarter%202024%20Financial%20Results%20Summary) The company achieved strong Q1 2024 growth in revenue, Adjusted EBITDA, and net income Q1 2024 Financial Highlights | Financial Metric | Q1 2024 | Q1 2023 | % Change | | :--- | :--- | :--- | :--- | | Total Revenue | $102.7M | $84.6M | +21.4% | | Gross Profit (GAAP) | $74.5M | $59.8M | +24.6% | | Net Income/(Loss) | $2.2M | ($5.4M) | N/A | | Adjusted EBITDA | $32.2M | $22.5M | +42.9% | | Adjusted EBITDA Margin | 31.3% | 26.6% | +470 bps | | Free Cash Flow | $8.6M | $6.2M | +38.3% | | Diluted EPS (GAAP) | $0.01 | ($0.02) | N/A | | Diluted EPS (Non-GAAP) | $0.10 | $0.07 | +42.9% | [Key Operating Metrics](index=2&type=section&id=First%20Quarter%202024%20Key%20Metrics%20Summary) Key growth indicators showed positive momentum with significant year-over-year growth in ARR and improved customer retention rates Key Operating Metrics | Key Metric | As of Mar 31, 2024 | As of Mar 31, 2023 | % Change | | :--- | :--- | :--- | :--- | | Annualized Recurring Revenue (ARR) | $402.3M | $337.4M | +19.3% | | Gross Revenue Retention Rate | 99% | 97% | +200 bps | | Net Revenue Retention Rate | 110% | N/A | N/A | [Recent Business Developments](index=2&type=section&id=Recent%20Business%20Highlights) The company enhanced its offerings through a key acquisition, advanced its multi-product strategy, and expanded internationally - Completed the **acquisition of Wilshire Advisors' risk, performance, and analytics platforms** to enhance front and middle office solutions[5](index=5&type=chunk) - Advanced its multi-product strategy with successful go-lives for **Clearwater PRISM clients** and a growing roster of clients using both JUMP and Clearwater's accounting solutions[5](index=5&type=chunk) - Launched **Clearwater CWIC LPx**, a new generative AI-based solution to help users extract investment insights on-demand[5](index=5&type=chunk) - Secured new international clients, including **MSIG Singapore** and **France Active**, for investment data management and accounting operations[5](index=5&type=chunk) [Financial Outlook](index=3&type=section&id=Second%20Quarter%20and%20Full%20Year%202024%20Guidance) [Q2 and Full Year 2024 Guidance](index=3&type=section&id=Second%20Quarter%20and%20Full%20Year%202024%20Guidance) The company projects continued growth for Q2 and the full year 2024, with revenue expected to increase by 19% to 20% Financial Guidance | Metric | Second Quarter 2024 Guidance | Full Year 2024 Guidance | | :--- | :--- | :--- | | Revenue | $105M - $106M | $438M - $442M | | Year-over-Year Growth | ~17% - 18% | ~19% - 20% | | Adjusted EBITDA | $31M | $137M - $139M | | Adjusted EBITDA Margin | ~29% - 30% | ~31% | [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) The company's balance sheet reflects total assets of $547.8 million and a strong equity position as of March 31, 2024 Consolidated Balance Sheets (in thousands) | Balance Sheet Item (in thousands) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $189,644 | $221,765 | | Total current assets | $395,750 | $415,996 | | Total assets | $547,803 | $558,743 | | Total current liabilities | $70,817 | $80,792 | | Total liabilities | $141,588 | $149,086 | | Total stockholders' equity | $406,215 | $409,657 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) The Q1 2024 income statement shows a 21.4% revenue increase and a return to profitability with a net income of $2.2 million Consolidated Statements of Operations (in thousands) | Income Statement Item (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Revenue | $102,719 | $84,606 | | Gross Profit | $74,541 | $59,781 | | Total operating expenses | $74,707 | $66,104 | | Loss from operations | ($166) | ($6,323) | | Net income (loss) | $2,236 | ($5,417) | | Net income (loss) attributable to CWAN | $1,898 | ($4,384) | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations increased to $10.0 million, though overall cash decreased due to financing and investing activities Consolidated Statements of Cash Flows (in thousands) | Cash Flow Item (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $10,037 | $7,935 | | Net cash used in investing activities | ($11,800) | ($32,646) | | Net cash used in financing activities | ($30,145) | ($5,269) | | Change in cash and cash equivalents | ($32,121) | ($29,879) | | Cash and cash equivalents, end of period | $189,644 | $220,845 | [Reconciliation of GAAP to Non-GAAP Measures](index=9&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Measures) [Reconciliation of Net Income (Loss) to Adjusted EBITDA](index=9&type=section&id=Reconciliation%20of%20Net%20Loss%20to%20Adjusted%20EBITDA) The reconciliation from GAAP net income to non-GAAP Adjusted EBITDA highlights adjustments for equity-based compensation and D&A Reconciliation of Net Income (Loss) to Adjusted EBITDA (in thousands) | Reconciliation Item (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net income (loss)** | **$2,236** | **($5,417)** | | Interest income, net | ($2,060) | ($1,356) | | Depreciation and amortization | $2,550 | $2,449 | | Equity-based compensation expense | $28,481 | $24,507 | | Transaction expenses | $802 | $1,293 | | Other adjustments | $193 | $1,065 | | **Adjusted EBITDA** | **$32,202** | **$22,541** | [Reconciliation of Free Cash Flow](index=10&type=section&id=Reconciliation%20of%20Free%20Cash%20Flow) Free cash flow grew 38.3% year-over-year, calculated from net operating cash flow less capital expenditures Reconciliation of Free Cash Flow (in thousands) | Free Cash Flow Calculation (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $10,037 | $7,935 | | Less: Purchases of property and equipment | $1,438 | $1,717 | | **Free Cash Flow** | **$8,599** | **$6,218** | [Detailed Non-GAAP Reconciliations](index=11&type=section&id=Reconciliation%20of%20Non-GAAP%20Information) This section details adjustments for non-GAAP gross profit and net income, showing improved margins and profitability Non-GAAP Reconciliations (in thousands) | Non-GAAP Reconciliation (in thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Gross Profit (GAAP)** | **$74,541** | **$59,781** | | Equity-based comp. & related taxes | $3,522 | $2,475 | | Depreciation and amortization | $2,102 | $1,964 | | **Gross Profit (Non-GAAP)** | **$80,165** | **$64,220** | | *Non-GAAP Gross Margin* | *78%* | *76%* | | **Net Income (Loss) (GAAP)** | **$2,236** | **($5,417)** | | Total Adjustments (Equity-comp, D&A, etc.) | $32,654 | $29,069 | | Tax impacts of adjustments | ($8,698) | ($5,954) | | **Net Income (Non-GAAP)** | **$26,192** | **$17,598** | [Legal Disclosures](index=4&type=section&id=Legal%20Disclosures) [Use of Non-GAAP Information](index=4&type=section&id=Use%20of%20non-GAAP%20Information) The company clarifies its use of non-GAAP measures to supplement GAAP reporting for performance evaluation - The company uses non-GAAP measures like **adjusted EBITDA and free cash flow** to supplement GAAP reporting[10](index=10&type=chunk) - These measures are adjusted to exclude items management believes are not indicative of ongoing operations, such as **share-based compensation** and **transaction expenses**[12](index=12&type=chunk) [Forward-Looking Statements](index=4&type=section&id=Use%20of%20Forward-Looking%20Statements) This section contains a safe harbor statement regarding forward-looking information and associated risks - The press release contains forward-looking statements concerning **future results, business strategies, and growth opportunities**[13](index=13&type=chunk) - These statements involve known and unknown risks that may cause **actual results to differ materially** from current expectations[14](index=14&type=chunk) - The company **does not undertake any obligation** to update forward-looking statements[16](index=16&type=chunk)

Clearwater Wilshire Analytics Provides Best-in-Class Risk and Performance Capabilities for Front and Middle Office Clients BOISE, Idaho, April 22, 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 completed its previously announced acquisition of risk and performance analytics solutions from Wilshire Advisors LLC, a leading global finan ...