Clarivate Plc Stock Price, News & Analysis

Clarivate Plc (NYSE: CLVT), a global leader in transformative intelligence, has announced its participation in the upcoming Goldman Sachs Communacopia + Technology Conference. Jonathan Collins, Executive Vice President and Chief Financial Officer, will represent the company at the event on Thursday, September 12, 2024, at 8:50 am Pacific Time (11:50 am Eastern Time).

Interested parties can access the live webcast of the presentation through a provided link. For those unable to attend in real-time, a replay will be available on the same platform. Additionally, the presentation will be archived on Clarivate's investor relations website for 180 days, ensuring extended access for stakeholders and interested investors.

Clarivate Plc (NYSE:CLVT) has launched the Web of Science™ Research Assistant, a generative AI-powered tool designed to enhance research efficiency. Developed in partnership with the research community, this tool leverages the Web of Science Core Collection™ to help researchers:

• Find key papers faster
• Handle complex research tasks
• Visualize connections in research fields

The Research Assistant offers flexible document searches, guided prompts, and unique data visualizations. It entered beta testing in December 2023 and was created in collaboration with librarians and researchers worldwide to ensure high standards of quality, accuracy, and privacy.

Clarivate (NYSE: CLVT), a global provider of transformative intelligence, has appointed Melanie Margolin to the expanded role of Chief Administrative and Legal Officer.

Joining the company in September 2023 as Executive Vice President and Chief Legal Officer, Margolin will now oversee human resources, facilities, communications, and brand functions, in addition to global legal affairs, risk, sustainability, privacy, and compliance.

CEO Matti Shem Tov commended Margolin for her strategic insights and emphasis on talent development, reflecting her people-centric leadership style. Margolin expressed her commitment to fostering collaboration and growth at Clarivate.

Clarivate Plc (NYSE: CLVT), a leading global provider of transformative intelligence, has announced its participation in the Oppenheimer 27th Annual Technology, Internet & Communications Virtual Conference. Jonathan Collins, Executive Vice President and Chief Financial Officer, will present on Monday, August 12, 2024, at 2:55 pm Eastern Time.

Investors and interested parties can access the live webcast of the presentation through a provided link. A replay of the webcast will be available on Clarivate's investor relations website for 90 days following the event. This presentation offers an opportunity for stakeholders to gain insights into Clarivate's current position and future strategies in the technology and information services sector.

Clarivate Plc (NYSE: CLVT) has announced a significant leadership change. Matti Shem Tov, former CEO of ProQuest, will become the company's new CEO effective August 9, 2024, replacing Jonathan Gear. Shem Tov will also join the Board of Directors. Gear will transition to a non-executive role until November 1, 2024.

The Board and Gear mutually agreed on this transition, aiming to take Clarivate into its next phase of value creation. Under Gear's leadership, Clarivate restructured into three end-market segments, enhanced product innovation, and strengthened its balance sheet. The company is now positioned to leverage expertise within each business segment to deliver tailored solutions globally.

Shem Tov's appointment is expected to accelerate Clarivate's organic growth, leveraging his experience in product innovation and market delivery. The change comes as Clarivate reported its second quarter 2024 results.

Clarivate (NYSE: CLVT) reported its Q2 2024 financial results, showing a 2.8% revenue decrease to $650.3 million. Organic revenues dipped 0.6%, with an increase of 0.7% in subscription revenues offset by declines in re-occurring and transactional revenues.

The company posted a net loss of $304.3 million, with adjusted net income down 6.6% to $142.2 million. Adjusted diluted EPS fell 4.8% to $0.20. Adjusted EBITDA decreased by 3.7% to $274.4 million, with a margin contraction to 42.2%.

For the six months ending June 30, 2024, revenues totaled $1.27 billion, a 2% decline. Net loss for this period was $379.3 million, and adjusted net income dropped 13.2% to $245.7 million. Adjusted diluted EPS was down 12.8% to $0.34. Adjusted EBITDA was $510.7 million, a 5% decrease.

Free cash flow plummeted by $44.5 million in Q2 to $60.3 million and by $100.9 million for the first half of the year to $172.1 million.

The company reaffirmed its 2024 outlook and highlighted new product launches and positive customer responses.

Clarivate Plc (NYSE:CLVT) has launched the new OFF-X™ platform, an enhanced solution for preclinical and clinical safety intelligence in biopharma. The platform offers a seamless user experience and unique translational insights, delivering important drug and target safety intelligence to proactively identify risks. Fully integrated with Cortellis Drug Discovery Intelligence™, OFF-X™ provides a comprehensive resource for safety information, streamlining processes and enhancing efficiency.

Key improvements include an 80% reduction in loading times for targets, drugs, drug combinations, and adverse events, faster search capabilities, clearer visual design, full-screen visualization, and additional analytic tools. The platform empowers users to monitor and anticipate toxicology and safety signals, mitigate safety liabilities, and de-risk assets across all phases of drug R&D and post-marketing.

Clarivate Plc (NYSE: CLVT) has announced that Richard Roedel will retire from its Board of Directors on December 31, 2024, due to health reasons. Valeria Alberola, a board member since May 2021, is expected to succeed Roedel as Chair of the Audit Committee. Alberola brings over 25 years of global experience in corporate finance, investment banking, sustainable investments, operations, and strategic management consulting.

Alberola previously served as CEO of Zoma Holdings, from January 2019 to March 2024, following her role as COO from 2017 to 2018. She has also held positions as CFO of Bridge Education Group, Inc. and partner at Q Advisors Alberola holds a B.S. in Economics and Business Administration and an M.B.A. from the Kellogg School of Management at Northwestern University.

Clarivate Plc (NYSE: CLVT) has acquired Rowan TELS Corp., the provider of Rowan Patents, an integrated patent drafting and prosecution solution. This strategic move aims to enhance Clarivate's workflow automation solutions beyond its current IP management and intelligence capabilities. The acquisition will enable Clarivate to offer comprehensive, AI-enabled solutions for patent preparation, filing, and prosecution.

The integration of Rowan Patents will help Clarivate advance its strategy to become the central hub for IP management, providing an end-to-end workspace for patent practitioners. This aligns with Clarivate's commitment to simplifying and optimizing IP management in an increasingly competitive global market.