Clearwater Analytics Hldgs Inc Stock Price, News & Analysis

Clearwater Analytics (NYSE: CWAN) has announced a partnership with BNP Paribas' Securities Services to deliver integrated investment accounting and reporting solutions alongside custodian services. This collaboration aims to address challenges asset owners face with legacy systems, enabling access to modern solutions that drive measurable business impact. With a global custody network spanning over 90 markets and management of EUR 11.1 trillion in assets, BNP Paribas provides extensive reach. The joint offering, which has begun benefiting clients like INTÉRIALE Mutual, is designed to streamline onboarding and enhance capital allocation decision-making across various asset classes.

Clearwater Analytics (NYSE: CWAN) announced that the receivership of Silicon Valley Bank (SVB) has a non-material impact on its operations. The Company does not hold deposits at SVB and its affiliate represents less than 1.5% of annualized recurring revenue as of December 31, 2022. Payments are current, and the client may continue its relationship with Clearwater, even if SVB's affiliate becomes inactive. Clearwater does not foresee any material exposure to SVB's situation, ensuring liquidity and treasury operations remain unaffected.

Clearwater Analytics Holdings, Inc. (NYSE: CWAN) announced the pricing of its underwritten secondary public offering of Class A common stock at $15.00 per share, totaling 13,000,000 shares to be sold by affiliates of Welsh, Carson, Anderson & Stowe. Clearwater will not receive any proceeds from this sale. The underwriters also have a 30-day option to purchase an additional 1,950,000 shares. The offering closes on March 13, 2023. J.P. Morgan, Morgan Stanley, and other firms are involved in the underwriting. The shares are offered under an effective shelf registration statement filed with the SEC on March 8, 2023.

On March 8, 2023, Clearwater Analytics announced a secondary public offering of 13,000,000 shares of its Class A common stock, facilitated by certain affiliates of Welsh, Carson, Anderson & Stowe. The affiliates plan to grant underwriters a 30-day option to purchase an additional 1,950,000 shares. Notably, the company will not receive any proceeds from this sale. The offering, which is subject to market conditions, is being offered under an automatically effective shelf registration statement filed with the SEC. Clearwater Analytics is recognized for its SaaS-based investment accounting and analytics solutions, managing over $6.4 trillion in assets.

On February 22, 2023, Clearwater Analytics (NYSE: CWAN) announced its partnership with OneUnited Bank and IntraFi to launch a fully FDIC-insured deposit program. Clearwater provides a technology platform enabling mutual corporate clients to manage deposits efficiently, enhancing access to financial products for minority communities. OneUnited Bank, the largest Black-owned bank in the U.S., aims to attract corporate deposits ranging from $1 million to $50 million. This initiative not only supports low-to-middle income communities but also aligns with corporations' ESG and DEI objectives, creating a streamlined way for firms to fulfill their social responsibility commitments.

Clearwater Analytics reported robust Q4 2022 results, achieving $82.7 million in revenue, marking an 18.5% year-over-year growth. Full-year revenue reached $303.4 million, up 20%. The company reported an EBITDA margin of 29.4% and generated $16.6 million in free cash flow during Q4. Annualized recurring revenue (ARR) was $323.5 million, reflecting a 16.4% increase. However, a net loss of $2.0 million was recorded, contrasting with a net income of $0.1 million in Q4 2021. Clearwater's guidance for Q1 2023 indicates projected revenue growth of ~17%.

Clearwater Analytics (NYSE: CWAN) will release its financial results for the fourth quarter and full year ended December 31, 2022, on February 21, 2023, after the U.S. markets close. The Company provides SaaS-based investment accounting, reporting, and analytics solutions, managing over $5.9 trillion in assets. A live conference call will be hosted on the same day at 5:00 p.m. ET, with details available on Clearwater's investor relations website. The call will also be available for replay, alongside a press release and financial tables related to the results.

Clearwater Analytics (NYSE: CWAN) announced that its executive team will attend several investor conferences in Q1 2023. CEO Sandeep Sahai will hold one-on-one meetings at the Bernstein's Tech, Media, Telecom & Consumer Forum in New York City on March 1, 2023. CFO Jim Cox will participate in a fireside chat and one-on-one meetings at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on March 6, 2023, followed by virtual meetings at the Loop Capital Markets 2023 Investor Conference on March 13, 2023. The webcast of the fireside chat will be accessible on Clearwater's investor relations website.