Fri, Mar 7, 9:19 PM (51 days ago)
Clearwater Analytics Holdings, Inc. (CWAN) filed an amendment to its 10-K for the fiscal year ending December 31, 2024. The company reported a revenue increase of 23% to $451.8 million and a net income of $427.6 million, rebounding from a net loss of $23.1 million in 2023. Operating expenses were effectively managed, leading to an adjusted EBITDA of $145.7 million, up 38% year-over-year. The adjusted EBITDA margin improved to 32%. The amendment primarily adds Part III disclosures, including executive compensation details and board governance, previously omitted under SEC rules. The company's strong financial performance is attributed to a robust SaaS platform serving asset managers and insurers, achieving a net revenue retention rate of 116%. Future outlook remains positive, with continued emphasis on strategic growth and operational efficiency. Key risks include market competition and regulatory challenges. The company maintains a solid financial condition, supported by a strong cash position and favorable market dynamics, positioning it well for future growth.