01:36 PM EDT, 08/01/2024 (MT Newswires) -- Clearwater Analytics Holdings ( CWAN ) shares were up nearly 16% in recent trading on Thursday, a day after the company posted Q2 non-GAAP net income and revenue gains.

The company reported Q2 non-GAAP net income Wednesday of $0.10 per diluted share, up from $0.08 a year earlier. Analysts polled by Capital IQ expected $0.10.

Revenue for the quarter ended June 30 was $106.8 million, up from $89.9 million a year earlier. Analysts surveyed by Capital IQ expected $105.5 million.

The company said it expects Q3 revenue in the range of $113 million to $114 million. Analysts polled by Capital IQ expect $113.4 million.

Clearwater raised its full-year 2024 revenue guidance to $442 million to $444 million from $438 million to $442 million. Analysts surveyed by Capital IQ expected $443.2 million.

Price: 22.65, Change: +3.10, Percent Change: +15.83