Clearwater Analytics reports Q1 EPS 15c, consensus 12c

Reports Q1 revenue $126.9M, consensus $125.12M. The company said, “While we initially projected margin improvements of 50 and 200 basis points in gross margin and EBITDA, respectively, we’ve delivered growth at a significantly faster pace. Our value proposition has proven even more compelling in volatile market environments because institutional investors need to see a comprehensive view of their global assets with greater frequency and sophistication. While our metrics will reset following the completion of our acquisitions, our long-term goals remain unchanged and our journey of improvement will continue unabated. Our strong ARR growth, expanding margins, and improved efficiencies demonstrate our progress as we continue to reshape the future of investment operations with the industry’s most comprehensive investment management platform. We’re very pleased with Clearwater’s first quarter results. In addition to our strong revenue and stellar EBITDA, our free cash flow generation in the quarter increased 168% year-over-year.”