Clearwater Analytics Hldgs Inc Stock Price, News & Analysis

Clearwater Analytics (NYSE: CWAN) has strengthened its Asia-Pacific presence with the appointment of George Hindmarsh as Head of Sales and Business Development for Asia-Pacific. Hindmarsh brings 25 years of experience from previous roles at Citigroup, Northern Trust, and HSBC.

The company has also been named Technology Provider of the Year at the InsuranceAsia News Excellence Awards for the third consecutive year, recognizing its innovation and commitment to the Asia-Pacific (re)insurance market. Recent regional investments include a new Hong Kong office complementing its Singapore presence.

Notable client success includes MSIG Singapore, which selected Clearwater's platform for investment data management, portfolio analytics, and reporting operations, particularly for IFRS 9 compliance. Clearwater's SaaS solution currently manages over $7.3 trillion in assets across traditional and alternative investments.

Clearwater Analytics (NYSE: CWAN) has announced that Security Mutual Group has selected its platform to enhance performance attribution and risk analysis capabilities. The platform will enable Security Mutual to conduct advanced analytics across multiple asset classes, perform detailed risk simulations, and test various scenarios including interest rates, credit spreads, and foreign exchange rates.

Security Mutual will utilize Clearwater's platform to move away from legacy systems, gaining access to comprehensive risk and shock analysis tools. The solution will provide detailed insights for data-driven decision-making through seamless data ingestion and aggregation. Clearwater's platform manages over $7.3 trillion in assets across traditional and alternative asset types, serving insurers, asset managers, corporations, and governments through its single instance, multi-tenant architecture.

Clearwater Analytics (NYSE: CWAN) has announced its acquisition of Enfusion (NYSE: ENFN) for approximately $1.5 billion, or $11.25 per share in a mixed cash-stock deal. The transaction includes a $30 million payment to terminate Enfusion's tax receivable agreement.

The strategic acquisition aims to create the first cloud-native front-to-back platform for the investment management industry, combining Enfusion's front-office capabilities with Clearwater's middle and back-office solutions. The merger is expected to expand Clearwater's TAM by $1.9 billion and accelerate global growth, particularly in Europe and Asia where Enfusion generates 38% of its revenue.

Enfusion's preliminary full-year 2024 revenue is expected at $201-202 million (15-16% YoY growth) with ARR of $210-211 million (13-14% YoY growth). The deal is anticipated to close in Q2 2025, subject to approvals. Clearwater expects to achieve $20 million in cost savings and improve Enfusion's Adjusted EBITDA margin by 400 bps in the first year and another 400 bps in the second year post-close.

Clearwater Analytics (NYSE: CWAN) has been selected by the Alameda County Employees' Retirement Association (ACERA) to provide data validation, shadow book of record accounting, and total plan reporting for their investment portfolio. The partnership aims to enhance ACERA's alternative assets management, which now represents over 35% of public pension funds' portfolios.

The Clearwater platform, equipped with Generative AI capabilities, will automatically aggregate and validate data across multiple sources, identifying anomalies and streamlining operational processes. Key benefits include improved accuracy for decision-making, reduced risk through real-time data validation, enhanced operational efficiency, and simplified total plan reporting with automated Investment Committee and Board Reports.

Clearwater Analytics (NYSE: CWAN) announced that Industrial Alliance Portfolio Management (IAPM) has selected their Risk & Performance Solution to enhance performance attribution and risk analysis capabilities. The solution enables IAPM to perform in-depth factor-based attribution and ex-ante risk analyses, with customizable performance benchmarks across all asset types. This integration streamlines workflows by merging with IAPM's existing Clearwater investment accounting platform, replacing a legacy system that relied on manual data reconciliation. The solution stems from Clearwater's acquisition of Wilshire Advisor 's analytics solutions earlier this year.

Clearwater Analytics (NYSE: CWAN) has announced a secondary public offering of 25,000,000 shares of Class A common stock. The offering is being conducted on behalf of affiliates of Welsh, Carson, Anderson & Stowe, Warburg Pincus , and Permira Advisers J.P. Morgan is acting as the sole underwriter and book-running manager. The company will not receive any proceeds from the sale. The shares will be offered through negotiated transactions or at prevailing market prices under an automatically effective shelf registration statement filed with the SEC.

Clearwater Analytics (NYSE: CWAN) reported strong Q3 2024 financial results with record quarterly revenue of $115.8 million, up 22.4% year-over-year. The company achieved net income of $4.8 million, compared to a net loss in Q3 2023, and Adjusted EBITDA of $38.3 million, up 34.3%. Key metrics showed robust performance with Annualized Recurring Revenue reaching $456.9 million (up 26.1%), a gross revenue retention rate of 99%, and net revenue retention rate of 114%. The company announced an agreement to terminate its Tax Receivable Agreement for $72.5 million, expected to generate significant future savings.

Clearwater Analytics (NYSE: CWAN) has announced a strategic integration with Snowflake to enhance data management capabilities for asset managers. The collaboration integrates Clearwater's investment data management solution, Prism, with Snowflake's AI Data Cloud. The integration offers key features including data collaboration through Snowflake Marketplace, seamless integration of Clearwater's datasets, direct data access without copying, advanced AI tools with natural language queries, and streamlined regulatory and investment reporting. This partnership aims to simplify how institutional asset managers and asset owners utilize their data, enabling faster insights and decision-making.

Clearwater Analytics (NYSE: CWAN) has announced it will release its third quarter 2024 financial results after U.S. market close on November 6, 2024. The company will host a conference call and webcast at 5:00 p.m. ET on the same day to discuss the results. Investors can access the webcast through the company's investor relations website, where they must register and install necessary audio software beforehand. A replay of the webcast, financial tables, press release, and call transcript will be available on the investor relations website after the event.