Clearwater Analytics Holdings, Inc. reported a significant increase in financial performance for the fiscal year ending December 31, 2024, with total revenue reaching $451.8 million, a 23% increase from $368.2 million in 2023. The company also achieved a net income of $427.6 million, a substantial recovery from a net loss of $23.1 million in the previous year. This turnaround was largely attributed to the onboarding of new clients and the expansion of existing client relationships, which contributed to a 15% increase in average assets on the platform.
The company has made strategic moves to enhance its market position, including the acquisition of Wilshire Technology in April 2024 for $40.1 million, which bolstered its analytical capabilities. Additionally, Clearwater announced a merger agreement with Enfusion, Inc. on January 10, 2025, valued at approximately $1.5 billion, aimed at creating a comprehensive cloud-native platform for the investment management industry. This merger is expected to close in the second quarter of 2025, pending regulatory approvals.
Operationally, Clearwater Analytics reported a client base of over 1,400, managing approximately $8.8 trillion in global invested assets. The company maintained a gross revenue retention rate of 98% and a net revenue retention rate that reached 116% in the fourth quarter of 2024. The firm’s employee headcount increased to 1,915, reflecting its growth strategy and commitment to client service. Clearwater's platform continues to gain traction, evidenced by an 80% win rate for new clients over the past four years.
The filing also highlighted the company's transition to a Base+ revenue model, which includes a base fee plus incremental fees based on asset increases. This model aims to stabilize revenue streams amid market fluctuations. Clearwater's financial outlook remains positive, with expectations for continued growth driven by client demand for its innovative solutions and the anticipated benefits from the Enfusion merger.
Looking ahead, Clearwater Analytics is focused on expanding its international presence, particularly in Europe and Asia, where it currently derives only 18% of its revenue. The company plans to invest in marketing and sales efforts to penetrate these markets further. Additionally, Clearwater aims to enhance its product offerings and leverage emerging technologies, including machine learning and AI, to maintain its competitive edge in the investment analytics space.
About Clearwater Analytics Holdings, Inc.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.