NYSE$CWAN
Clearwater Analytics Holdings Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported record quarterly revenue with ARR reaching $337.4 million and net revenue retention rate of 106%.
Clearwater Analytics announced strong Q1 2023 financial results, with record quarterly revenue of $84.6 million, up 19.5% year-over-year. The company's ARR reached $337.4 million, and the net revenue retention rate was 106%. Adjusted EBITDA was $22.5 million, representing a 26.6% margin.
- Total revenue for the first quarter of 2023 reached $84.6 million, an increase of 19.5% year-over-year.
- ARR reached $337.4 million, an increase of 17.5% year-over-year.
- The net revenue retention rate was 106%.
- Adjusted EBITDA for the first quarter of 2023 was $22.5 million.
Headline financials
Revenue & EPS history
Clearwater · Revenue · Quarterly
$84.6M
Forward guidance
Clearwater Analytics provided guidance for the second quarter and full year 2023.
Tailwinds
- Second Quarter 2023 Revenue: $87.5 million
- Full Year 2023 Revenue: $362 million to $364 million
- Year-over-Year Growth %: ~19%
- Year-over-Year Growth %: ~19% to 20%
- Adjusted EBITDA: $22.8 million
Headwinds
- Full Year 2023 Adjusted EBITDA: $97 million to $98 million
- Equity-based compensation expense and related payroll taxes: ~$80 million
- Equity-based compensation expense related to JUMP Technology acquisition: ~$25 million
- Depreciation and Amortization: ~$9 million
- Non-GAAP effective tax rate: 25%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q1 2023
+1.9%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+4.6%
Avg return
30 days after
67%
12 / 18 earnings
Positive
+21.6%
Q3 2024
Best reaction
-13.8%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.2% | +0.1% | +0.3% | |
| Q4 2025 | +0.8% | +0.2% | +1.3% | |
| Q3 2025 | -8.3% | +6.3% | +25.4% | |
| Q1 2025 | +0.7% | +0.5% | +1.6% | |
| Q4 2024 | +10.7% | +13.2% | -2.0% | |
| Q3 2024 | +21.6% | +15.1% | +10.3% | |
| Q2 2024 | +18.7% | +16.3% | +25.1% | |
| Q1 2024 | +8.9% | +10.7% | +20.3% | |
| Q4 2023 | -13.8% | -12.2% | -11.5% | |
| Q3 2023 | +2.9% | +0.4% | +9.3% | |
| Q2 2023 | +2.2% | -2.0% | +6.0% | |
| Q1 2023 | -2.6% | +1.2% | +7.6% | |
| Q4 2022 | -7.4% | -5.7% | -21.7% | |
| Q3 2022 | +8.9% | +10.2% | +19.3% | |
| Q2 2022 | +1.5% | +13.4% | +14.9% | |
| Q1 2022 | -5.1% | -6.9% | -23.3% | |
| Q4 2021 | -10.6% | -11.0% | +5.5% | |
| Q3 2021 | +4.9% | -4.5% | -5.5% | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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