Clearwater Analytics Hldgs Inc Stock Price, News & Analysis

Clearwater Analytics (NYSE: CWAN) has announced significant updates to its SaaS investment accounting platform. The enhancements are designed to support the latest accounting standards and improve asset class reporting. Key updates include enhanced Schedule DB support for derivatives, new Solvency II reporting capabilities, and advanced analytics for overnight rate indexed securities and variable bonds. Notably, clients can see a 75% reduction in time spent on accounting and reporting tasks. Clearwater's solution currently manages over $5.9 trillion in assets for a diverse clientele.

Clearwater Analytics (CWAN) has completed its acquisition of JUMP Technology, a French investment management software provider. This move aims to enhance Clearwater's suite of services, doubling its presence in Europe and offering a comprehensive solution for investment management. The acquisition integrates JUMP's modular technology into Clearwater's platform, improving clients’ operational efficiencies across the investment lifecycle.

Clearwater Analytics (NYSE: CWAN) reported a record quarterly revenue of $76.6 million for Q3 2022, representing a 19% increase year-over-year. Gross profit reached $53.8 million with a 74.8% non-GAAP gross margin. Despite a net loss of $3.0 million, non-GAAP net income increased by 59% to $13.8 million. The company continues to maintain strong client relationships, achieving a gross revenue retention rate of 98% over 15 consecutive quarters. Upcoming acquisition of JUMP Technology is expected to enhance product offerings and expand market presence.

Clearwater Analytics (NYSE: CWAN) will announce its third-quarter financial results for the period ending September 30, 2022, on November 2, 2022, after market close. A conference call to discuss the results will be held on the same day at 5:00 PM ET, accessible via webcast on their investor relations website. Clearwater's SaaS solution manages over $5.9 trillion in assets for diverse clients including insurers, asset managers, and governments, demonstrating its pivotal role in investment data and analytics.

Clearwater Analytics (NYSE: CWAN) announced participation in several investor conferences during Q4 2022. CEO Sandeep Sahai will engage in a fireside chat and one-on-one meetings at the Hidden Gems Conference on November 8, and at the RBC Capital Markets Conference in NYC on November 16. CFO Jim Cox will host a fireside chat at the Credit Suisse Technology Conference in Scottsdale on November 29 and meet investors at the D.A. Davidson FinTech Spotlight Conference in NYC on December 8. Webcasts of these events will be available on Clearwater's investor relations site.

Clearwater Analytics (NYSE: CWAN) has been chosen by Sydney-based Bronte Capital for its SaaS investment data management and reporting services. Founded in 2009, Bronte Capital aims to enhance its portfolio analytics through Clearwater's comprehensive platform, which offers daily aggregation, reconciliation, and reporting capabilities. This partnership is expected to streamline Bronte's investment operations, enabling a consolidated view of assets and integrating with internal systems and prime brokers. Clearwater currently manages $5.9 trillion in assets under management for over 1,100 clients globally.