Overview

* Clearwater Q2 revenue rises 70% yr/yr, beating analyst expectations, per LSEG data

* Adjusted EBITDA for Q2 beats estimates, rising 74% yr/yr

* Co achieved $20 mln synergy target ahead of schedule

Outlook

* Clearwater Analytics ( CWAN ) expects Q3 revenue of $203 mln to $204 mln

* Company forecasts full-year revenue of $726 mln to $732 mln

* Clearwater Analytics ( CWAN ) sees Q3 adjusted EBITDA around $65 mln

* Company anticipates full-year adjusted EBITDA of $232 mln to $237 mln

Result Drivers

* CLIENT ENGAGEMENT - Strong client meetings across multiple countries contributed to positive sentiment and support for Clearwater's platform, per CEO Sandeep Sahai

* SYNERGY TARGET - Achieved $20 mln synergy target a year ahead of schedule, aiding financial performance

* INTERNATIONAL EXPANSION - Secured significant mandates in APAC and welcomed Germany's largest public insurer, boosting international presence

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $181.90 $174.10

Revenue mln mln (10

Analysts

)

Q2 Beat $34.80 $34.70

Adjusted mln mln (8

Net Analysts

Income )

Q2 Net -$24.20

Income mln

Q2 Beat $58.30 $52.80

Adjusted mln mln (9

EBITDA Analysts

)

Q2 32.1%

Adjusted

EBITDA

Margin

Q2 $140.80

Adjusted mln

Gross

Profit

Q2 $783.50

Annual mln

Recurrin

g

Revenue

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the software peer group is "buy"

* Wall Street's median 12-month price target for Clearwater Analytics Holdings Inc ( CWAN ) is $35.00, about 41.7% above its August 5 closing price of $20.39

* The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 40 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)