Welcome to our dedicated page for Clarivate news (Ticker: CLVT), a resource for investors and traders seeking the latest updates and insights on Clarivate stock.
Clarivate Plc reports developments in data, analytics and workflow software for academia and government, intellectual property, and life sciences and healthcare. Its news commonly covers earnings, subscription and recurring revenue trends, cash flow and leverage actions, and progress under its operating improvement initiatives.
Company updates also focus on AI-enabled research and decision-support products, including Web of Science Research Intelligence, Nexus Connect, Cortellis Regulatory Intelligence, Derwent-based patent analytics and other Clarivate data assets. Recurring announcements address institutional research intelligence, academic library workflows, regulatory intelligence for life sciences teams, intellectual property benchmarks and investor conference appearances.
On September 22, 2022, Clarivate Plc (NYSE: CLVT) announced the launch of upgraded Web of Science™ Researcher Profiles, enhancing services for researchers by consolidating their academic publications, citation metrics, and peer review activities. This initiative, celebrated during Peer Review Week, aims to provide recognition for peer reviewers and support scholars in managing their contributions efficiently. Notably, researcher profile page views surged by nearly 320%, underlining the growing visibility of academic work. The upgraded platform offers various features to help researchers showcase their expertise and keep track of citation impacts.
On September 21, 2022, Clarivate Plc (NYSE: CLVT) announced its 2022 Citation Laureates, honoring 20 researchers whose work is recognized as 'of Nobel class'. The selection process utilized data from Web of Science, identifying highly cited publications out of more than 55 million indexed articles. Notable honorees include Masato Hasegawa, Virginia Man-Yee Lee, and Stephen R. Quake among others. Clarivate noted that 64 previous Citation Laureates have received Nobel Prizes, emphasizing the credibility of their research contributions.
Clarivate Plc (NYSE:CLVT) has announced the full migration of BioWorld Science to bioworld.com, completing the brand consolidation of its news portfolio. This transition enhances user experience with expanded news coverage and intuitive navigation. The new platform will provide readers daily access to comprehensive drug R&D news, including exclusive insights and in-depth articles, along with improved functionalities such as a daily newsletter. BioWorld aims to support critical decision-making in drug development by delivering timely and relevant information.
Clarivate has entered into an agreement with Newfold Digital for the sale of MarkMonitor, an enterprise-level domain management provider, for approximately $302.5 million. The transaction is expected to finalize in late 2022, pending regulatory approvals. MarkMonitor is projected to generate $80 million in revenue and $35 million in EBITDA for 2022. This acquisition will enhance Newfold's domain management solutions, benefiting its extensive customer base, including Fortune 500 companies, and allow Clarivate to concentrate on its core IP management portfolio.
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Clarivate Plc (NYSE: CLVT), a leader in innovation insights, announced its participation in two key investor conferences in September 2022. The first is the Barclays Global Financial Services Conference on September 12 at 9:00 am ET, followed by the Goldman Sachs Communacopia + Technology Conference on September 15 at 2:30 pm ET. Live webcasts will be available for both events. These presentations will be made by CEO Jonathan Gear and CFO Jonathan Collins, showcasing the company's commitment to accelerating innovation.
Clarivate Plc (NYSE: CLVT) announced significant leadership changes as Jonathan Gear takes over as CEO following Jerre Stead's retirement. Stead will transition to a non-executive chair role, and Andrew Snyder has been appointed as the new chair of the board, effective after the October 20 board meeting. Snyder, who is the CEO of Cambridge Information Group, expressed his commitment to driving company growth and increasing shareholder value alongside Gear. Stead will be honored as Chairman Emeritus to continue providing his insights to the board.
Clarivate Plc (NYSE:CLVT; CLVT PR A) has declared a quarterly dividend of $1.3125 per share on its 5.25% Series A Mandatory Convertible Preferred Shares. This dividend is payable in cash on September 1, 2022, to shareholders who are on record by the close of business on August 15, 2022. The decision reflects the company's commitment to returning value to shareholders while maintaining its position as a leader in providing trusted information and insights to drive innovation.
Clarivate Plc reported strong financial results for Q2 2022, with revenues of $686.6 million, up 54% year-over-year. Organic revenue growth was 4.8%. The company recorded a net income of $43.7 million, a significant turnaround from a net loss of $131.5 million in the same quarter last year. Adjusted EBITDA rose 45.2% to $274.4 million, and adjusted net income increased by 50.1%. However, cash flow from operations declined by $97.1 million to $164.6 million, primarily due to seasonality and one-time payments. CEO Jerre Stead announced retirement plans, effective end of August.
Clarivate Plc (NYSE: CLVT) has been chosen by the National Library Board of Singapore (NLB) to provide library software solutions through its Innovative division. This contract includes the Polaris Integrated Library System and Vega Discover applications, designed to enhance the library experience for both staff and patrons. The initiative aligns with NLB's Libraries and Archives Blueprint 2025, aimed at modernizing library services. Executive Chairman Jerre Stead emphasized Clarivate's commitment to innovation and improving library automation and discovery standards.