Clearwater Analytics Holdings, Inc. (CWAN) Bundle
An Overview of Clearwater Analytics Holdings, Inc. (CWAN)
General Summary of Clearwater Analytics Holdings, Inc. (CWAN)
Clearwater Analytics Holdings, Inc. (CWAN) was founded to provide cloud-based investment accounting, reporting, and analytics software. The company has evolved significantly since its inception, establishing a strong reputation in the financial technology sector. Clearwater’s platform allows clients to manage their investment portfolios efficiently, offering real-time insights and comprehensive analytics.
As of 2024, Clearwater Analytics has reported a total annualized recurring revenue of approximately $456.9 million, reflecting a robust growth trajectory. The company serves a diverse client base, including asset managers, insurance companies, and corporations, providing a suite of services that encompass investment accounting, performance measurement, and risk analytics.
Company's Financial Performance in the Latest Financial Reports
In the third quarter of 2024, Clearwater Analytics achieved record-breaking revenue of $115.8 million, representing a 22% increase compared to $94.7 million in the same quarter of the previous year. For the nine months ended September 30, 2024, total revenue reached $325.3 million, up 21% from $269.1 million in 2023.
The company reported a net income of $4.8 million for the third quarter of 2024, a significant turnaround from a net loss of $2.3 million in the same quarter of 2023. For the nine months ending September 30, 2024, net income totaled $7.3 million, compared to a net loss of $19.6 million in 2023.
| Financial Metric | Q3 2024 | Q3 2023 | Change (%) | 9M 2024 | 9M 2023 | Change (%) |
|---|---|---|---|---|---|---|
| Revenue | $115.8 million | $94.7 million | 22% | $325.3 million | $269.1 million | 21% |
| Net Income | $4.8 million | ($2.3 million) | — | $7.3 million | ($19.6 million) | — |
Clearwater's growth has been bolstered by a 99% gross revenue retention rate and a 114% net revenue retention rate as of September 30, 2024, reflecting strong client satisfaction and expansion within existing accounts.
Introduction to Clearwater Analytics as a Leader in the Industry
Clearwater Analytics is recognized as a leader in the financial technology industry, particularly in the realm of investment analytics and reporting solutions. The company has successfully differentiated itself through its innovative cloud-based platform, which integrates seamlessly with various financial data sources to deliver actionable insights.
The company’s strategic acquisition of Wilshire Technology in April 2024 for $40.1 million has further enhanced its service offerings, enabling clients to leverage advanced risk and performance analytics. With assets under management on its platform totaling approximately $7.3 trillion as of the end of 2023, Clearwater Analytics continues to solidify its position as a trusted partner for financial institutions seeking to optimize their investment management processes.
For further insights into Clearwater Analytics Holdings, Inc. and its market-leading solutions, please continue reading below.
Mission Statement of Clearwater Analytics Holdings, Inc. (CWAN)
Mission Statement Overview
The mission statement of Clearwater Analytics Holdings, Inc. (CWAN) is integral in guiding the organization towards achieving its long-term objectives. It emphasizes the company's dedication to providing high-quality analytics and reporting solutions to institutional investors, enhancing their ability to manage and understand their investment portfolios effectively.
Core Component 1: Delivering High-Quality Products
Clearwater Analytics is committed to delivering high-quality products that address the needs of its clients. The company focuses on providing advanced analytics, reporting, and data management services to enhance decision-making for investment management.
As of September 30, 2024, Clearwater reported a gross revenue retention rate of 99%, a significant increase from 98% in the prior year . This reflects the effectiveness of its product offerings and the strong customer satisfaction that underpins its mission.
Core Component 2: Client-Centric Approach
The second core component of Clearwater's mission is its client-centric approach. The company prioritizes understanding client needs and tailoring its services accordingly. This has led to a net revenue retention rate of 114% for the third quarter of 2024, showcasing the growth in recurring revenue from existing clients .
| Client-Centric Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Revenue Retention Rate | 114% | 108% |
| Gross Revenue Retention Rate | 99% | 98% |
Core Component 3: Innovation and Adaptation
Innovation is crucial to Clearwater's mission. The company continually enhances its platform to meet the evolving needs of the financial services sector. The acquisition of Wilshire Technology in April 2024 for $40.1 million illustrates Clearwater's commitment to expanding its capabilities and delivering innovative solutions .
The annualized recurring revenue (ARR) increased by 26.1% from September 30, 2023, to September 30, 2024, reaching $456.9 million . This growth reflects the company's successful integration of new technologies and services into its offerings.
Vision Statement of Clearwater Analytics Holdings, Inc. (CWAN)
Vision Statement Overview
The vision of Clearwater Analytics Holdings, Inc. (CWAN) emphasizes its commitment to delivering innovative technology solutions that enhance investment management processes and provide actionable insights for clients. This vision reflects the company's goal to be a leader in the financial technology sector, focusing on scalability and client-centric services.
Commitment to Innovation
Clearwater Analytics aims to continuously innovate its product offerings to meet the evolving needs of its clients. As of September 30, 2024, the company reported an annualized recurring revenue of $456.9 million, reflecting a 26.1% increase from the previous year, driven by the onboarding of new clients and the expansion of services for existing clients .
Client-Centric Approach
At the core of Clearwater's vision is a strong focus on client satisfaction and retention. The gross revenue retention rate was 99% as of September 30, 2024, compared to 98% in the prior year, showcasing the company's ability to maintain its client base effectively . This high retention rate is indicative of the value clients derive from Clearwater's analytics solutions.
Scalability and Growth
Clearwater's vision includes a commitment to scalable solutions that can grow alongside its clients’ needs. The company has experienced significant growth in its client base, which contributed to a revenue increase of 22% for the three months ended September 30, 2024, compared to the same period in 2023 . This growth is supported by strategic acquisitions, such as the acquisition of Wilshire Technology for $40.1 million in cash .
Strategic Partnerships and Collaborations
Clearwater Analytics emphasizes the importance of strategic partnerships to enhance its offerings. Collaborations with industry leaders allow Clearwater to integrate advanced analytics capabilities into its platform. This is exemplified by the co-branding of the Wilshire Technology solutions as Clearwater Wilshire Analytics, which enhances the company's service portfolio .
Financial Performance Metrics
| Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Annualized Recurring Revenue | $456.9 million | $362.4 million | +26.1% |
| Gross Revenue Retention Rate | 99% | 98% | +1% |
| Net Income (Loss) | $4.769 million | ($2.343 million) | Positive Shift |
| Revenue | $115.8 million | $94.7 million | +22% |
Future Outlook
The vision of Clearwater Analytics Holdings, Inc. is geared toward sustaining high growth through innovation, client retention, and strategic partnerships. The company is poised to capitalize on market opportunities in the financial technology sector, which is expected to expand as organizations increasingly seek data-driven solutions to enhance their investment strategies.
Core Values of Clearwater Analytics Holdings, Inc. (CWAN)
Integrity
Integrity is a core value at Clearwater Analytics Holdings, Inc. (CWAN) that emphasizes ethical behavior and transparency in all dealings. This value is vital for maintaining trust with clients, employees, and stakeholders.
In 2024, CWAN demonstrated its commitment to integrity through various initiatives, including the implementation of strict compliance protocols and ethical training programs for employees. The company reported a compliance training completion rate of 95%, ensuring that employees are well-versed in ethical practices and regulatory requirements.
Innovation
Innovation is central to CWAN's mission, driving the development of cutting-edge analytics solutions for asset management. This value is essential for staying competitive in a rapidly evolving financial landscape.
In 2024, CWAN invested over $36 million in research and development, leading to the introduction of several new features on its analytics platform. The company reported a 22% increase in user engagement due to these innovations, highlighting the effectiveness of its commitment to continuous improvement.
Collaboration
Collaboration fosters teamwork and enhances the ability to deliver comprehensive solutions to clients. This core value is crucial for leveraging diverse expertise within the organization.
In 2024, CWAN launched a cross-departmental initiative aimed at improving communication and collaboration among teams. The initiative resulted in a 30% reduction in project turnaround times, demonstrating the tangible benefits of fostering a collaborative culture.
Customer-Centricity
Customer-centricity ensures that the needs and experiences of clients are prioritized in all business operations. This value is fundamental for building long-lasting relationships and enhancing client satisfaction.
In 2024, CWAN received a customer satisfaction score of 92%, reflecting its commitment to understanding and addressing client needs. The company also implemented a feedback loop that collected insights from over 1,000 clients, which were used to refine service offerings and enhance user experience.
Responsibility
Responsibility at CWAN encompasses environmental, social, and governance (ESG) considerations. This value is essential for ensuring sustainable business practices and positively impacting the community.
In 2024, CWAN set a goal to reduce its carbon footprint by 30% over the next five years. The company implemented energy-efficient technologies in its offices, resulting in a 15% reduction in energy consumption in the first year. Additionally, CWAN contributed over $1 million to community development programs, furthering its commitment to social responsibility.
| Core Value | Initiative | Investment | Outcome |
|---|---|---|---|
| Integrity | Compliance Training | N/A | 95% completion rate |
| Innovation | Research and Development | $36 million | 22% increase in user engagement |
| Collaboration | Cross-Departmental Initiative | N/A | 30% reduction in project turnaround times |
| Customer-Centricity | Client Feedback Loop | N/A | 92% customer satisfaction score |
| Responsibility | ESG Initiatives | $1 million to community programs | 15% reduction in energy consumption |
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Resources:
- Clearwater Analytics Holdings, Inc. (CWAN) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Clearwater Analytics Holdings, Inc. (CWAN)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Clearwater Analytics Holdings, Inc. (CWAN)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.