Record Revenue and Growth
Total revenue grew 70% year-on-year to $181.9 million, with core business contributing $130.6 million, representing a solid 22% year-over-year organic growth. ARR was $783.5 million, up 83.4% year-on-year.
Strong Adjusted EBITDA Performance
Adjusted EBITDA was $58.3 million, representing 32.1% of revenue and up 74.3% year-on-year. This was 70 basis points higher than the stand-alone profitability in Q2 of 2024.
Successful Integration of Acquired Companies
The integration of Enfusion and Beacon was completed with $20 million in synergies realized, achieving the full year 1 target within the first few days as an integrated company.
High Gross Margin Achievement
Delivered a gross margin of 77.4% in Q2, with the core accounting and analytics business exceeding 80% gross margin for the quarter.
Bloomberg Partnership
Announced a partnership with Bloomberg to deliver a full front-to-back solution for large asset managers, creating a bidirectional integration between Bloomberg AIM and Clearwater.
Strong Client and Employee Engagement
Engaged over 450 clients and 2,600 employees to share plans and build a shared vision for the integrated business, receiving near unanimous enthusiasm for the vision and direction.