Clearwater Analytics Hldgs Inc Stock Price, News & Analysis

Clearwater Analytics (NYSE: CWAN) has appointed Lisa Jones, an asset management veteran with over 30 years of experience, to its Board of Directors. Jones, who is also CEO of Amundi US, Inc., will join the Audit Committee. Her significant background includes leading growth initiatives and improving financial results at major firms. The CEO of Clearwater, Sandeep Sahai, expressed enthusiasm about Jones' appointment, highlighting her experience in integrating complex investment businesses and her potential to strengthen the company's leadership.

On September 13, 2022, Clearwater Analytics (NYSE: CWAN) announced the winners of its inaugural Client Awards at Clearwater Connect 2022 in Boise, Idaho. The awards recognize firms and individuals who have excelled in investment accounting using Clearwater's platform. Notable winners include Chimera Investment Corporation, Markel Corporation for operational excellence, and CNA Insurance as a growth enabler. Clearwater's solutions manage over $5.9 trillion in assets, helping clients optimize investment data through automated services.

Clearwater Analytics (NYSE: CWAN) announced significant product enhancements in Q2 2022, improving user experience and regulatory compliance. The upgrades include new NAIC designation categories, enhanced solvency II reporting, and hybrid benchmarks for detailed analysis. Notable features include updated Schedule D and RBC reports for greater accuracy, a new 'Universal Close' pricing type for derivatives, and advanced cash flow analysis reports. These innovations aim to boost operational efficiency, aligning with regulatory standards and empowering clients with reliable data for decision-making.

Clearwater Analytics (NYSE: CWAN) announced its collaboration with Chimera Investment Corporation (NYSE: CIM), a New York-based REIT, to enhance investment data management and reporting. This partnership aims to provide the high-quality data transparency that REITs require, streamlining extensive internal processes hindered by outdated solutions. Clearwater's automated system will support Chimera's complex portfolio, which includes various mortgage-backed securities, through improved accounting and compliance with GAAP. The solution is expected to scale with Chimera's growth and evolving regulatory demands.

Clearwater Analytics (CWAN) announced its annual user conference, Clearwater Connect 2022, taking place from September 13-15, 2022, in Boise, Idaho. The event will showcase the newest features of Clearwater's SaaS platform, emphasizing its potential to enhance business productivity. A diverse speaker lineup of accounting and finance experts will provide insights into industry trends and regulatory updates. The conference aims to foster networking and educational opportunities, helping attendees navigate the complexities of investment accounting and operations.

Clearwater Analytics (CWAN) announced its second-quarter financial results for 2022, reporting a record revenue of $73.4 million, marking a 21% increase year-over-year. The company achieved a remarkable 98% gross revenue retention rate for the fourteenth consecutive quarter and generated $18.3 million in operating cash flow. Despite these positives, Clearwater recorded a net loss of $2.2 million for the quarter. The company's annualized recurring revenue (ARR) grew to $290.4 million, showing an 18.5% increase compared to the previous year.

Clearwater Analytics (NYSE: CWAN) has appointed Dr. JP Singh, a renowned Computer Science Professor at Princeton and tech industry veteran, to its Board of Directors. With extensive experience in data science, AI, ML, and cybersecurity, Dr. Singh is expected to enhance Clearwater's innovative capabilities. He co-founded companies like CaaStle and Trust Machines and has consulted for major corporations, including Intel and Microsoft. His additions to the board aim to leverage disruptive technology in investment accounting, reporting, and analytics, ultimately serving Clearwater's global clientele better.

Clearwater Analytics (CWAN) will release its second quarter financial results for the period ending June 30, 2022, post market close on August 3, 2022. The company provides SaaS solutions for investment accounting and analytics, reporting on over $5.9 trillion in assets for a diverse client base. A conference call will follow the announcement at 5:00 p.m. ET, accessible via their investor relations website. This update is crucial for investors monitoring CWAN's financial performance and market position.