Reports Q2 revenue $106.8M, consensus $105.52M. “We had a very strong quarter where ARR grew 22% year on year, revenue grew 19% and adjusted EBITDA grew 35%. Gross revenue retention was 99% for a second successive quarter, which is a strong reflection of the value our platform provides to our customers…our free cash flows grew by 117% compared to the previous year,” said Sandeep Sahai, CEO. “Also in Q2, we completed the acquisition of an advanced analytics platform from Wilshire Advisors extending our capabilities in risk and performance. Looking further ahead, we continue to make meaningful investments in generative AI to drive responsiveness and completeness to customer requests, improve data quality and drive revenue growth. These financial results and continued client momentum make us enthusiastic about what lies ahead for Clearwater Analytics.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CWAN:
- Clearwater Analytics Announces Second Quarter 2024 Financial Results
- Amidst a Bullish Outlook for the S&P 500, Oppenheimer Recommends Loading up on These 2 Stocks
- Clearwater Analytics upgraded to Outperform from Perform at Oppenheimer
- Clearwater Analytics 12M share Spot Secondary priced at $19.80
- Clearwater Analytics announces 12M share offering of Class A common for holders