NYSE$CWAN
Clearwater Analytics Holdings Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Clearwater Analytics reported strong Q3 2023 financial results with record quarterly revenue and increased profitability.
Clearwater Analytics announced its Q3 2023 financial results, reporting a 24% year-over-year increase in revenue to $94.7 million. The company's adjusted EBITDA grew by 51% year-over-year to $28.6 million, with an adjusted EBITDA margin of 30%.
- Total revenue for the third quarter of 2023 was $94.7 million, an increase of 23.7% from $76.6 million in the third quarter of 2022.
- Adjusted EBITDA for the third quarter of 2023 was $28.6 million, up from $18.8 million in the third quarter of 2022.
- As of September 30, 2023, annualized recurring revenue (“ARR”) reached $362.4 million, an increase of 19.4% from $303.6 million as of September 30, 2022.
- Net revenue retention rate was 108%.
Headline financials
Revenue & EPS history
Clearwater · Revenue · Quarterly
$94.7M
Forward guidance
Clearwater Analytics provided guidance for Q4 2023 and full year 2023.
Tailwinds
- Q4 2023 Revenue: $98.5 million
- Q4 2023 Year-over-Year Growth: ~19%
- Q4 2023 Adjusted EBITDA: $28 million
- Q4 2023 Adjusted EBITDA Margin: ~28%
- Full Year 2023 Revenue: $367.6 million
Headwinds
- Full Year 2023 Year-over-Year Growth: ~21%
- Full Year 2023 Adjusted EBITDA: $104 million
- Full Year 2023 Adjusted EBITDA Margin: ~28%
- Equity-based compensation expense and related payroll taxes: ~$80 million
- Equity-based compensation expense related to JUMP Technology acquisition: ~$25 million
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 Q3 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro