Clarivate Plc Stock Price, News & Analysis

Clarivate reaffirmed its 2021 outlook for key financial metrics including Adjusted revenues, Adjusted EBITDA, and Adjusted free cash flow. The company also filed its Form 10-Q for Q1 2021, reporting a net loss of $24.0 million ($0.04 per diluted share), an improvement from a loss of $129.6 million in Q1 2020. Adjusted net income rose to $88.4 million ($0.14 per diluted share) versus $25.5 million ($0.07 per diluted share) year-over-year. Additionally, adjustments were made to the classification of certain warrants as liabilities, impacting financial statements without altering reported revenues or cash flows.

Clarivate Plc (NYSE: CLVT) announced the winners of the 2020 Revenue Cycle Awards, recognizing healthcare organizations for outstanding performance in revenue cycle KPIs. The winners include ThedaCare (WI), University of Iowa Hospitals & Clinics (IA), and Essentia Health (MN). Award recipients adapted to pandemic challenges, enhancing operations to support staff and patients. Winners demonstrated top decile performance metrics, including first-pass appeal success rates and online payment percentages, showcasing effective revenue cycle management amidst the COVID-19 crisis.

Clarivate Plc (NYSE: CLVT) reported strong results for Q1 2021, with revenues of $428.4 million, up 78% year-over-year. Adjusted revenues also increased by 78% to $431.5 million. Organic revenues rose 7%, driven by a 6% increase in subscription revenues and a 10% rise in transactional revenues. However, the company faced a GAAP loss from operations of $34.2 million, up 21%. Adjusted EBITDA surged 111% to $164.8 million. Cash from operations was $174 million, significantly higher than the previous year. The company updated its 2021 outlook to forecast 6% to 8% organic growth.

Clarivate Plc (NYSE: CLVT) announced enhancements to its Cortellis Deals Intelligence, introducing new deal trend visualizations and predictive analytics powered by artificial intelligence. These tools aim to streamline the assessment of potential net present value (NPV) for in-licensing candidates in drug development. The integration of real-time data allows users to make informed decisions and better estimate deal sizes. Notably, biopharma deal-making reached record levels in 2020, with nearly $200 billion in transactions.

Clarivate Plc (NYSE: CLVT) has appointed Julie Wilson as the new Chief People Officer, succeeding Andrea Degutis, who retires after four years. This leadership transition occurs during a period of significant growth and transformation for the company. CEO Jerre Stead acknowledged Degutis's vital contributions, especially during the pandemic. Wilson, formerly at Cerner Corporation, brings extensive experience in talent management and a commitment to a high-performance culture. Clarivate aims to enhance employee engagement and profitability while positioning itself as one of the world's best workplaces.

Clarivate Plc (NYSE: CLVT) has released a report highlighting the significant growth of research output in the MENAT region, which has increased from 2% to 8% of global research over the last 40 years. The report identifies Egypt as a key player with 60% international collaboration, while Iran has surpassed other countries in the region to become the largest research producer. Despite high global collaboration, regional collaboration remains low. The study emphasizes the potential for enhanced local collaboration to improve research quality and international competitiveness.

Clarivate Plc (NYSE: CLVT) announced that Jerre Stead, Executive Chairman and CEO, and Richard Hanks, CFO, will present at the BofA Securities 2021 Information Services Conference on March 18, 2021, at 3:35 PM Eastern Time. A live webcast of the presentation will be accessible on the Investor Relations section of Clarivate's website, with a replay available for 30 days post-event. Clarivate aims to accelerate innovation by providing actionable information and insights to help clients navigate complex challenges.

Clarivate Plc (NYSE:CLVT) released its annual 'Drugs to Watch' list, spotlighting potential blockbuster drugs that could exceed $1 billion in sales by 2025. Highlighted drugs include Aducanumab for Alzheimer's, which could revolutionize treatment; Bimekizumab for psoriasis, offering improved efficacy; Relugolix, an oral treatment for prostate cancer; and Vericiguat for heart failure. The report reflects the accelerated pace of biopharma innovation, driven by insights from COVID-19 developments, faster trials, and increased investment in research and development.