Clearwater Analytics Hldgs Inc Stock Price, News & Analysis

Clearwater Analytics (NYSE: CWAN), a global SaaS provider, announced that M&G Investments has selected its investment accounting solution to enhance M&G's third-party insurance business. This partnership aims to automate investment management, regulatory reporting, and monthly investment board packages for M&G's global insurance clients. Clearwater PRISM, the client reporting platform, will enable comprehensive portfolio views and meet complex multi-basis accounting requirements. M&G's clients will benefit from a streamlined, efficient, and accurate reporting process. Clearwater's capabilities will help M&G expand its footprint in growing international insurance markets, leveraging their expertise in public and private markets.

Clearwater Analytics (NYSE: CWAN) has announced a secondary public offering of 12 million shares of its Class A common stock. This resale is being conducted on behalf of Warburg Pincus and Permira Advisers affiliates. Clearwater will not receive any proceeds from the sale. The shares will be sold by Citigroup, the underwriter and sole book-running manager. The offering is being made under an automatically effective shelf registration statement filed with the SEC.

Clearwater Analytics provides SaaS-based investment management, accounting, reporting, and analytics solutions, managing over $7.3 trillion in assets daily.

Clearwater Analytics' 2024 State of Alternatives study reveals that 55% of institutional investors plan to boost their alternative investments over the next five years. This research, involving over 230 executives from sectors managing $10 trillion in AUM, highlights trends, opportunities, and challenges in alternative investments. Key findings show that regulatory complexities are a major barrier, noted by 34% of respondents. Additionally, data and reporting are significant operational challenges, with 28% identifying a need for data standardization. The study underscores the important need for technological innovation to manage alternative investment portfolios effectively.

Clearwater Analytics (NYSE: CWAN) has released its 2024 Insurance Investment Outsourcing Report (IIOR). This eleventh annual report, often referred to as the 'Yellow Pages' for insurance-focused asset managers, includes profiles of 70 asset managers and 12 investment consultants, the latter being new additions. This year’s report highlights several key trends, including a continued growth in outsourcing with $3.6 trillion in insurance assets under management (AUM) and $900 million in consultant assets. Notably, private asset classes have grown 40% over the last two years to $602 billion, while public asset classes have remained flat. The report also reveals that public fixed income still dominates with 70% of AUM.

The report indicates that more managers are entering the insurance asset management business, with 22 new managers joining in the last three reports. Investment consultants are increasingly prominent, helping insurers diversify into private asset classes. This growing complexity and sophistication in insurer investment programs is a testament to the evolving industry landscape.

Clearwater Analytics (NYSE: CWAN) has been selected by Erste Asset Management (Erste AM) to support its business growth and enhance client services. Erste AM, part of Erste Group Bank AG, manages €81.4 billion in assets and chose Clearwater's PRISM platform after a thorough selection process. The cloud-native PRISM platform will enable Erste AM to offer customized client reporting, quick access to data, and self-service analytics. This partnership aims to streamline Erste AM’s operations, modernize its reporting capabilities, and enhance service delivery.

Galileo has launched Galileo Protect®, a real-time GenAI firewall solution that safeguards enterprise generative AI by proactively intercepting malicious inputs and harmful responses. This solution aims to enhance AI safety without impacting performance, user experience, or incurring significant costs.

Clearwater Analytics announced record quarterly revenue of $102.7 million, up 21% year-over-year, with adjusted EBITDA of $32.2 million, up 43% year-over-year. The company reported a gross revenue retention rate of 99% and a net revenue retention rate of 110%. Annualized recurring revenue reached $402.3 million, up 19% year-over-year. Adjusted gross margin increased to 78%, up 210 basis points year-over-year.