Thu, Aug 1, 8:32 PM (88 days ago)
Clearwater Analytics Holdings, Inc. reported a 19% increase in revenue to $106.8 million for Q2 2024, driven by client growth and the acquisition of Wilshire Technology. Cost of revenue rose by 11% to $29.9 million, primarily due to higher payroll, data costs, and amortization expenses. Operating expenses increased by 4% to $73.1 million, with significant investments in research and development, and sales and marketing. Adjusted EBITDA rose to $33.4 million, reflecting a 31% margin. The company remains focused on expanding its client base, enhancing technological capabilities, and international growth. Cash flow from operations was $54.0 million, and the company maintains a strong liquidity position with $297.6 million in cash and investments.