NYSE$CWAN
Clearwater Analytics Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported a record quarterly revenue with significant year-over-year growth and improved operational efficiency.
Clearwater Analytics announced strong Q1 2024 results, with a 21.4% increase in revenue to $102.7 million and a 42.9% increase in Adjusted EBITDA to $32.2 million. The company also reported a net income of $2.2 million, a significant improvement from the previous year's net loss. Key metrics such as ARR and retention rates showed healthy growth, and strategic acquisitions are expected to further expand the company's market presence.
- Revenue increased by 21.4% year-over-year, reaching $102.7 million.
- Adjusted EBITDA grew by 42.9% year-over-year, totaling $32.2 million.
- Annualized Recurring Revenue (ARR) reached $402.3 million, a 19.3% increase year-over-year.
- Net income was $2.2 million, a notable improvement compared to a net loss of $5.4 million in the previous year.
Headline financials
Revenue & EPS history
Clearwater · Revenue · Quarterly
$103M
Forward guidance
Clearwater Analytics provided guidance for the second quarter and full year 2024, including revenue and Adjusted EBITDA expectations.
Tailwinds
- Second quarter revenue is expected to be between $105 million and $106 million.
- Full year revenue is projected to be between $438 million and $442 million.
- Second quarter Adjusted EBITDA is anticipated to be $31 million.
- Full year Adjusted EBITDA is expected to be between $137 million and $139 million.
- Full year revenue growth is expected to be ~19% to 20%.
Headwinds
- Total equity-based compensation expense and related payroll taxes are expected to be approximately $106 million for the full year.
- Depreciation and Amortization is expected to be approximately $11 million.
- Non-GAAP effective tax rate of 25%.
- Diluted non-GAAP share count of approximately 258 million.
- Second quarter revenue growth is expected to be ~17% to 18%.
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 2024
+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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