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Clearwater Analytics Holdings, Inc. reports developments in cloud-native investment management technology for institutional investors across global public and private markets. The company’s platform supports portfolio management, trading, investment accounting, reconciliation, regulatory reporting, performance, compliance, and risk analytics through a single-instance, multi-tenant architecture.
Recurring company updates include customer implementations, front-to-back workflow integrations, Enfusion by CWAN deployments, institutional research on private-market operations, and platform capabilities for insurers, asset managers, hedge funds, banks, corporations, and governments. Clearwater also reports operating and financial results, material agreements, capital-structure matters, shareholder voting items, and governance developments.
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to provide the high-quality data transparency that REITs require, streamlining extensive internal processes hindered by outdated solutions.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.
Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment solutions, announced participation in two major investor conferences in Q3 2022. CEO Sandeep Sahai will engage in a fireside chat at the Oppenheimer 25th Annual Technology, Internet & Communications Conference on August 9, 2022, while CFO Jim Cox will present at the Goldman Sachs 2022 Communacopia + Technology Conference in San Francisco on September 12, 2022. Webcasts will be available on Clearwater's investor relations website.
Clearwater Analytics (NYSE: CWAN) announces its selection by INTÉRIALE Mutual for investment accounting and reporting services. This partnership allows INTÉRIALE, which serves over 1,000 local authorities in France, to enhance its accounting framework with multi-basis capabilities and save significant time during financial closings. Clearwater's platform is praised for its automated data aggregation and user-friendly interface, promising a seamless transition and improved operational efficiency. Clearwater manages over $5.9 trillion in assets daily, showcasing its leadership in SaaS solutions.
Clearwater Analytics (CWAN) and the Insurance Asset Outsourcing Exchange published the 2022 Insurance Investment Outsourcing Report, highlighting a 15% growth in global third-party investment management assets totaling $3.4 trillion, driven by large insurers outsourcing core mandates and seeking specialized investment solutions. North America experienced an 18% increase, with alternative investments gaining traction, comprising 24% of new mandates in 2021. Despite challenges from industry consolidation and COVID, Clearwater has witnessed significant client growth, with many increasing allocations in non-traditional asset classes by over 25%.
Clearwater Analytics (NYSE: CWAN) and LiquidityBook have announced a collaboration to provide a complete portfolio investment and operations experience. This integration combines LiquidityBook's cloud-native trade execution, portfolio management, and compliance solutions with Clearwater's accounting and reporting capabilities. The partnership aims to enhance efficiency for buy-side and outsourced traders by delivering a seamless, scalable solution. Both companies emphasize their commitment to technology integration, with mutual clients already experiencing improved operational processes.
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