CWAN - Clearwater Analytics Holdings Inc. (CWAN) Q1 2024 Earnings Call Transcript
2024-05-04 04:29:08 ET
Clearwater Analytics Holdings, Inc. (CWAN)
Q1 2024 Earnings Conference Call
May 01, 2024, 05:00 PM ET
Company Participants
Joon Park - Head, IR
Sandeep Sahai - CEO
Jim Cox - CFO
Conference Call Participants
Rishi Jaluria - RBC
Faith Brunner - William Blair
Michael Infante - Morgan Stanley
David Unger - Wells Fargo
Ari Friedman - Oppenheimer
Eleanor Smith - JPMorgan
Gabriela Borges - Goldman Sachs
Yun Kim - Loop Capital
Presentation
Joon Park
Thank you, and welcome everyone to Clearwater Analytics' First Quarter 2024 Financial Results Conference Call.
Joining me on the call today are Sandeep Sahai, Chief Executive Officer, and Jim Cox, Chief Financial Officer. After their remarks, we will open the call to a question-and-answer session.
I would like to remind all participants that during this conference call, any forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals, intentions, and expectations, including in relation to the business outlook, future financial and product performance, and similar items, including, without limitation, expressions using the terminology may, will, can, expect, and believe and expressions which reflect something other than historical facts are intended to identify forward-looking statements.
Forward-looking statements involve a number of risks and uncertainties, including those discussed in the risk factors section of our filings with SEC. Actual results may differ materially from any forward-looking statement. Company undertakes no obligation to revise or update any forward-looking statements in order to reflect events that may arise after this conference call, except as required by law. For more information, please refer to the cautionary statement included in our earnings press release.
Lastly, all metrics discussed on this call are presented on a non-GAAP or adjusted basis, unless otherwise noted. The reconciliation to GAAP results can be found in the earnings press release that we have posted to our Investor Relations website.
With that, I'll turn the call over to our Chief Executive Officer, Sandeep Sahai.
Sandeep Sahai
Thank you, Joon, and thank you all for joining us.
Building a durable business that grows consistently while improving gross margin, EBITDA, and cash flow has always been our stated endeavor. I'm pleased to report that Q1 2024 delivered on all those goals. Revenue grew 21% year-over-year to $102.7 million in the quarter, and our EBITDA grew 42.9% year-over-year to $32.2 million, or 31.3% of our revenue....
Clearwater Analytics Holdings, Inc. (CWAN) Q1 2024 Earnings Call Transcript