Clearwater Analytics reports Q3 EPS 14c, consensus 14c

Reports Q3 revenue $205.11M, consensus $203.6M. Q3 was our first quarter as an integrated company and we demonstrated strong execution and financial performance, with quarterly revenue of $205.1 million, up 77% year-over-year. Our single instance, single security master architecture allows Gen AI models and agents to learn very quickly, helping us drive very strong growth in unit economics. Non-GAAP gross margin for the combined business was 78.5%, reaching an important milestone meaningfully before our earlier expectations. Adjusted EBITDA was approximately $71 million, up 84% year-over-year,” said Sandeep Sahai, CEO at CWAN. “The integration continues to be ahead of schedule, and we have impressive proof points across all fronts. We secured marquee wins with insurance, hedge funds, asset management and asset owners globally that chose CWAN in competitive processes against legacy providers. Clients are enthusiastic about our ability to provide an open, modular platform and are genuinely excited about the transformative power of Gen AI that we can bring to them. Our clients are already experiencing transformative results using over 800 AI agents, including 90% reductions in manual reconciliation effort and 80% faster report generation. With Gen AI agents learning from our proprietary data, we expect to lead in insights and agentic reporting, significantly altering the efficiency of the investment management industry.”