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.
Clarivate Plc (NYSE:CLVT) has acquired Bioinfogate, a provider of analytics solutions in life sciences, including the OFF-X™ portal. The OFF-X portal is a significant resource, containing over 1.2 million safety alerts related to 23,000 drugs and biologics. This acquisition aims to enhance drug toxicity data integration across the life science cycle, allowing for improved decision-making in drug development. Although financial terms were not disclosed, the acquisition is expected to strengthen Clarivate's offerings, particularly in translational safety intelligence.
Clarivate Plc (NYSE: CLVT; CLVT PR A) announced a $250 million share repurchase program to be executed through October 31, 2021. The Board of Directors expressed confidence in the company's growth prospects and stated that this buyback represents an attractive investment opportunity. The purchases will be funded with existing cash balances, reflecting strong earnings and cash flow, as noted by Executive Chairman and CEO Jerre Stead.
Clarivate reported strong Q2 2021 results, with revenues of $445.6 million, a 62.9% increase year-over-year. Adjusted EBITDA reached $189.0 million (up 88.8%). Despite a net loss of $82.2 million, adjusted net income was $110.0 million, a 58.3% rise. The company saw organic revenue growth of 5% at constant currency. Cash flow from operations increased to $261.7 million. Looking ahead, Clarivate expects organic revenue growth for 2021 to be at the upper end of 6% to 8%.
Clarivate Plc (NYSE: CLVT) has launched the Cortellis Supply Chain Network™, aimed at enhancing supply chain efficiency in the biopharma sector. This platform connects over 70,000 buyers and sellers, facilitating better identification of partners and management of procurement processes. The initiative addresses vulnerabilities exposed by the COVID-19 pandemic, which highlighted the need for greater supply chain transparency. By providing continuously updated manufacturing data and insights on supply risks, the network aims to ensure more accessible therapies for patients.
Clarivate Plc (NYSE:CLVT; CLVT PR A) declared a quarterly dividend of approximately $1.12 per share on its 5.25% Series A Mandatory Convertible Preferred Shares. This dividend is payable on September 1, 2021, to shareholders of record by August 15, 2021. The payment will be made in ordinary shares rather than cash, as per the governing Statement of Rights. The number of shares delivered will be based on the average volume-weighted price over the five trading days ending before the payment date.
On July 14, 2021, the Society for Information Display (SID) announced a significant increase in the Impact Factor (IF) of its flagship publication, the Journal of the Society for Information Display (JSID), now at 2.140. This improvement reflects the journal's enhanced standing in the field, recognized through data compiled from Clarivate's Web of Science. This data supports scholarly evaluation and promotes quality academic publishing. JSID editor Jiun-Haw Lee emphasized the journal's prestige, highlighting contributions from renowned figures in the display industry.
On July 14, 2021, Clarivate Plc (NYSE:CLVT) announced the integration of its CompuMark™ trademark research and protection solutions into IPfolio™ and FoundationIP™. This move aims to streamline intellectual property (IP) management, enhancing data quality and reducing manual entry efforts. With global coverage of over 180 trademark authorities, the integration allows corporate IP departments and law firms to manage portfolios more efficiently. The strategy is designed to empower customers, fostering informed decision-making and operational excellence in IP management.
Clarivate Plc (NYSE:CLVT) released a report highlighting innovation in electric vehicles (EVs), identifying key challenges such as vehicle charging time and battery capacity as critical barriers to market potential. The report shows a surge in academic research on EVs, with 74% of papers published from 2011-2020. Despite advancements, consumer concerns about inadequate charging infrastructure persist. The report also discusses geographic trends in R&D, revealing major EV innovation hotspots in Japan, China, South Korea, Germany, and the US, along with increasing litigation activity in Europe and Asia.
On July 7, 2021, Clarivate Plc (NYSE: CLVT) announced significant upgrades to its Web of Science platform, enhancing the research experience for users. These improvements include new visualization tools like Author Impact Beamplots, enriched cited references, and detailed funding data for published works. The platform now supports advanced search workflows and allows easier sharing of search queries. These enhancements aim to simplify access to world-class research data and improve the overall functionality, promoting better collaboration among researchers.
Clarivate Plc (NYSE:CLVT) announced significant changes to its executive leadership team, welcoming Steen Lomholt-Thomsen as Chief Revenue Officer and Jaspal Chahal as Chief Legal Officer. Gordon Samson is promoted to President of the IP Group. The changes aim to strengthen customer engagement and accelerate integration of recent acquisitions, including Decision Resources Group and CPA Global. CEO Jerre Stead emphasized the importance of these appointments for driving innovation and growth while thanking Steve Hartman and Jeff Roy for their contributions to the company.