Mon, Mar 3, 9:26 PM (54 days ago)
**Summary of Enfusion, Inc. (ENFN) 10-K for the Year Ended December 31, 2024** Enfusion, Inc. reported total revenues of $201.6 million for FY 2024, a 15.5% increase from $174.5 million in FY 2023. The revenue growth was primarily driven by platform subscriptions, which rose 16.1% to $187.5 million. Net income was $3.9 million, down from $9.3 million in the previous year, attributed to increased operating expenses linked to the pending merger with Clearwater Analytics, which is valued at approximately $1.5 billion. Operating expenses rose 24.4% to $130.6 million, driven by higher general and administrative costs, including stock-based compensation. Enfusion's recurring subscription revenue constituted 99.3% of total revenue, reflecting a stable business model. The company maintained a net dollar retention rate of 106.4%. As of December 31, 2024, cash and cash equivalents stood at $54.5 million, with significant borrowing capacity under a new credit facility. Key risks include reliance on cloud adoption, merger completion uncertainties, and potential cybersecurity threats. The company is positioned for growth through geographic expansion and innovation, aiming to capture a larger share of the investment management technology market.