Clearwater Analytics reports Q1 non-GAAP EPS 12c, consensus 9c

Reports Q1 revenue $102.7M, consensus $100.54M. “The 21% organic year-over-year revenue growth in Q1 2024 demonstrates the continued disruptive power of our platform and its adoption by a diverse group of clients across industries and geographies. We continue to invest in and bring to market new innovative products that resonate with our current clients’ needs. This is one of the key levers of increasing NRR in the long-term, and we are pleased with the progress we are making. We’re also committed to expanding our TAM, and we believe that the acquisition of the risk, performance, and analytics products of Wilshire Advisors will position us as a leading player in that market. Combined with the JUMP Technology acquisition in November 2022, we have now addressed two key elements of solutions needed by the middle and front office,” said CEO Sandeep Sahai. “We’re also very pleased with increased operational and onboarding efficiency driven by our strong network effects, AI-driven functionality, and other innovations which yielded significantly improved operating metrics. These are truly exciting times for the company.”