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Clarivate Reports Second Quarter 2025 Results
— Continued acceleration of organic ACV and recurring organic revenue growth — — Delivered improved organic recurring revenue mix — — Reaffirmed 2025 Outlook — — Repurchased 11.5 million ordinary shares in the second quarter— LONDON, July 30, 2025 /PRNewswire/ -- Clarivate Plc (NYSE: CLVT) (the "Company" or "Clarivate"), a leading global provider of transformative intelligence, today reported results for the second quarter ended June 30, 2025. Total revenues for the second quarter of 2025 were $621.4 million, compared to total revenues of $650.3 million for the second quarter of 2024, due to inorganic divestitures and disposals. Organic revenues for the second quarter of 2025 increased 0.5%, compared to the second quarter of 2024, due to a 0.8% increase in organic recurring revenues, partially offset by lower organic transactional revenues. Organic ACV grew 1.3% compared to June 30, 2024, and the mix of organic recurring revenue to total revenue for the first half of this year is now at 88%, an improvement of 800 bps compared to 80% for the prior year ended December 31, 2024. Net loss for the second quarter of 2025 was $72.0 million, or $0.11 per diluted share, compared to a net loss of $304.3 million, or $0.46 per diluted share, for the second quarter of 2024. Adjusted net income for the second quarter of 2025 was $123.3 million, or $0.18 per diluted share, compared to $142.2 million, or $0.20 per diluted share, for the second quarter of 2024. Adjusted EBITDA for the second quarter of 2025 was $261.6 million, compared to Adjusted EBITDA of $274.4 million for the second quarter of 2024. Total revenues for the first half of 2025 were $1,215.1 million, compared to total revenues of $1,271.5 million for the first half of 2024, due to inorganic divestitures and disposals. Organic revenues for the first half of 2025 increased 0.4%, compared to the first half of 2024, due to a 0.7% increase in organic recurring revenues, partially offset by lower organic transactional revenues. Net loss for the first half of 2025 was $175.9 million, or $0.26 per diluted share, compared to a net loss of $379.3 million, or $0.61 per diluted share, for the first half of 2024. Adjusted net income for the first half of 2025 was $219.1 million, or $0.32 per diluted share, compared to $245.7 million, or $0.34 per diluted share, for the first half of 2024. Adjusted EBITDA for the first half of 2025 was $494.8 million, compared to Adjusted EBITDA of $510.7 million for the first half of 2024. Clarivate generated $287.5 million of operating cash flow and $160.6 million of free cash flow in the first half of 2025 and used approximately $100 million to repurchase 23.2 million ordinary shares at an average price of $4.29 per share. "We reported solid second quarter performance and delivered growth in our key metrics. We have good momentum underway building off a solid first half of the year," said Matti Shem Tov, Chief Executive Officer. "There are early indications that our Value Creation Plan is driving improved performance and I'm pleased by the way in which the team is coming together to move the business forward." "Looking ahead, we believe that the enhancements we made to the sales operating model to improve execution, customer engagement, and retention, as well as AI tailwinds benefiting our IP business, will support Clarivate's profitability and value creation." Selected Financial Information (In millions, except percentages and per share data), (unaudited) Three Months Ended June 30,ChangeSix Months Ended June 30,Change 20252024$%20252024$% Revenues $ 621.4$ 650.3$ (28.9)(4.4) %$ 1,215.1$ 1,271.5$ (56.4)(4.4) % Net income (loss) $ (72.0)$ (304.3)$ 232.376.3 %$ (175.9)$ (379.3)$ 203.453.6 % Adjusted net income(1) $ 123.3$ 142.2$ (18.9)(13.3) %$ 219.1$ 245.7$ (26.6)(10.8) % Adjusted EBITDA(1) $ 261.6$ 274.4$ (12.8)(4.7) %$ 494.8$ 510.7$ (15.9)(3.1) % Diluted EPS $ (0.11)$ (0.46)$ 0.3576.1 %$ (0.26)$ (0.61)$ 0.3557.4 % Adjusted diluted EPS(1) $ 0.18$ 0.20$ (0.02)(10.0) %$ 0.32$ 0.34$ (0.02)(5.9) % Net cash provided by operating activities $ 116.3$ 126.2$ (9.9)(7.8) %$ 287.5$ 302.4$ (14.9)(4.9) % Free cash flow(1) $ 50.3$ 60.3$ (10.0)(16.6) %$ 160.6$ 172.1$ (11.5)(6.7) % Second Quarter 2025 Commentary Subscription revenues of $405.7 million were essentially flat. Organic subscription revenues increased 1.7%, primarily due to new sales and price increases. Re-occurring revenues increased $0.3 million, or 0.3%, to $108.9 million. Organic re-occurring revenues decreased 2.3%, primarily due to timing of IP patent renewal volumes, as organic re-occurring revenues increased 1.4% for the first half of 2025. Recurring revenues, which consist of subscription and re-occurring revenues, increased 0.8% organically. Transactional revenues decreased $29.3 million, or 21.5%, to $106.8 million, primarily due to product group wind-downs within A&G. Organic transactional revenues decreased 1.4%. Balance Sheet and Cash Flow As of June 30, 2025, cash and cash equivalents of $362.6 million increased $67.4 million compared to December 31, 2024. Total debt outstanding was $4,570.5 million as of June 30, 2025, largely unchanged compared to December 31, 2024. Net cash provided by operating activities for the first half of 2025 was $287.5 million compared to $302.4 million in the prior year period. Free cash flow for the first half of 2025 was $160.6 million compared to $172.1 million in the prior year period. Reaffirmed Outlook for 2025 (forward-looking statement) "During the first half of 2025, we achieved enhanced performance, primarily driven by growth in organic ACV within the Academia & Government (A&G) and Life Sciences & Healthcare segments and in organic subscription revenue within A&G," said Jonathan Collins, Executive Vice President and Chief Financial Officer. "With revenue for the first half meeting our projections and continued strong cost management, we are reaffirming our outlook for the full year 2025." The full year outlook presented below assumes no further acquisitions, divestitures, or unanticipated events.2025 Outlook Organic ACV 1.0% to 2.0% Recurring Organic Revenue Growth (1.0)% to 1.0% Revenues $2.28B to $2.40B Adjusted EBITDA(1) $940M to $1.00B Adjusted EBITDA Margin(1) 40.5% to 42.5% Adjusted Diluted EPS(1)(2) $0.60 to $0.70 Free Cash Flow(1) $300M to $380MNotes to press release (1) Non-GAAP measure. Please see "Reconciliations to Certain Non-GAAP Measures" in this release for important disclosures and reconciliations of these financial measures to the most directly comparable GAAP measure. These terms are defined elsewhere in this press release. (2) Adjusted diluted EPS for 2025 is calculated based on approximately 685 million fully diluted adjusted weighted average ordinary shares outstanding. Conference Call and Webcast Clarivate will host a conference call and webcast today to review the results for the second quarter at 9:00 a.m. Eastern Time. The webcast is open to all interested parties and may include forward-looking information. The live webcast of the earnings call will be accessible through the investor relations section of the Company's website. To join the webcast please visit Interested parties may access the live audio broadcast. U.S. participants may call 800-715-9871; international participants may call +1 646-307-1963 (long-distance charges will apply). The conference ID number is 7007526. A replay of the webcast will also be available on beginning two hours after the conclusion of the live call and will remain available for one year. Use of Non-GAAP Financial Measures This release contains financial measures that have not been prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), including Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted diluted EPS and Free cash flow. Non-GAAP financial measures are not recognized terms under GAAP, are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. As a result, you should not consider such measures in isolation from, or as a substitute for, financial measures or results of operations calculated or determined in accordance with GAAP. We use non-GAAP measures internally in our operational and financial decision-making, to assess the operating performance of our business, to assess performance for employee compensation purposes, and to decide how to allocate resources. We believe that such measures allow us to focus on what we deem to be more reliable indicators of ongoing operating performance and our ability to generate cash flow from operations, and we also believe that investors may find these non-GAAP financial measures useful for the same reasons. Non-GAAP measures are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to us, many of which present non-GAAP measures when reporting their results. Further, these measures can be useful in evaluating our performance against our peer companies because we believe they provide users with valuable insight into key components of GAAP financial disclosure. However, non-GAAP measures have limitations as analytical tools and because not all companies use identical calculations, our presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies. Definitions and reconciliations of non-GAAP measures to the most directly comparable GAAP measures are provided within the schedules attached to this release. Our presentation of non-GAAP measures should not be construed as an inference that our future results will be unaffected by any of the adjusted items, or that any projections and estimates will be realized in their entirety or at all. Forward-Looking Statements This release includes statements that express our opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results and therefore are, or may be deemed to be, "forward-looking statements" within the meaning of the "safe harbor provisions" of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "seeks," "projects," "intends," "plans," "may," "will," or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, and include statements regarding our intentions, beliefs, or current expectations concerning, among other things, anticipated cost savings, results of operations, financial condition, liquidity, prospects, growth, strategies, and the markets in which we operate. Such forward-looking statements are based on available current market material and management's expectations, beliefs, and forecasts concerning future events impacting us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the caption "Risk Factors" in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission ("SEC"). Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Please consult our public filings with the SEC, which are also available on our website at About Clarivate Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit Condensed Consolidated Balance Sheets (Unaudited)(In millions) March 31, 2025December 31, 2024 ASSETSCurrent assets:Cash and cash equivalents, including restricted cash $ 362.6$ 295.2 Accounts receivable, net 820.4798.3 Prepaid expenses 88.585.9 Other current assets 68.765.2 Total current assets 1,340.21,244.6 Property and equipment, net 56.353.5 Other intangible assets, net 8,284.08,441.2 Goodwill 1,566.91,566.6 Other non-current assets 69.582.2 Deferred income taxes 51.148.5 Operating lease right-of-use assets 53.253.6 Total assets $ 11,421.2$ 11,490.2 LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities:Accounts payable $ 125.7$ 124.5 Accrued compensation 111.4119.2 Accrued expenses and other current liabilities 292.5310.1 Current portion of deferred revenues 929.1859.1 Current portion of operating lease liability 20.120.6 Total current liabilities 1,478.81,433.5 Long-term debt 4,516.84,518.7 Other non-current liabilities 97.472.5 Deferred income taxes 284.3273.3 Operating lease liabilities 49.853.2 Total liabilities 6,427.16,351.2 Commitments and contingenciesShareholders' equity:Ordinary Shares, no par value; unlimited shares authorized; 672.2 and 691.4 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 12,902.712,978.8 Accumulated other comprehensive loss (419.2)(526.3) Accumulated deficit (7,489.4)(7,313.5) Total shareholders' equity 4,994.15,139.0 Total liabilities and shareholders' equity $ 11,421.2$ 11,490.2 Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended June 30,Six Months Ended June 30, (In millions, except per share data) 2025202420252024 Revenues $ 621.4$ 650.3$ 1,215.1$ 1,271.5 Operating expenses:Cost of revenues 203.6213.6410.6431.4 Selling, general and administrative costs 181.1185.2359.5377.1 Depreciation and amortization 190.9184.4376.3363.8 Goodwill and intangible asset impairments —302.8—302.8 Restructuring and other impairments 9.30.734.010.2 Other operating expense (income), net 29.63.648.621.2 Total operating expenses 614.5890.31,229.01,506.5 Income (loss) from operations 6.9(240.0)(13.9)(235.0) Fair value adjustment of warrants ———(5.2) Interest expense, net 66.671.1130.9141.3 Income (loss) before income taxes (59.7)(311.1)(144.8)(371.1) Provision (benefit) for income taxes 12.3(6.8)31.18.2 Net income (loss) (72.0)(304.3)(175.9)(379.3) Dividends on preferred shares —12.5—31.3 Net income (loss) attributable to ordinary shares $ (72.0)$ (316.8)$ (175.9)$ (410.6) Per share:Basic $ (0.11)$ (0.46)$ (0.26)$ (0.61) Diluted $ (0.11)$ (0.46)$ (0.26)$ (0.61) Weighted average shares used to compute earnings per share: Basic 681.3685.6685.5676.2 Diluted 681.3685.6685.5676.2 Condensed Consolidated Statements of Cash Flows (Unaudited) Six Months Ended June 30, (In millions) 20252024 Cash Flows From Operating ActivitiesNet income (loss) $ (175.9)$ (379.3) Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation and amortization 376.3363.8 Share-based compensation 29.333.9 Restructuring and other impairments, including goodwill 2.2301.3 Deferred income taxes (5.4)(24.6) Amortization and write-off of debt issuance costs 7.77.9 Other operating activities 45.814.3 Changes in operating assets and liabilities:Accounts receivable 2.2103.2 Prepaid expenses (1.5)1.1 Other assets 3.1(5.4) Accounts payable (3.3)(12.2) Accrued expenses and other current liabilities (36.1)(38.3) Deferred revenues 42.6(59.7) Operating leases, net (3.2)(4.8) Other liabilities 3.71.2 Net cash provided by operating activities 287.5302.4 Cash Flows From Investing ActivitiesCapital expenditures (126.9)(130.3) Payments for acquisitions, net of cash acquired —(17.1) Proceeds from divestitures, net of cash divested —(19.2) Net cash used for investing activities (126.9)(166.6) Cash Flows From Financing ActivitiesPrincipal payments on debt (500.0)(52.7) Proceeds from issuance of debt 500.0— Payment of debt issuance costs, extinguishment costs, and related fees (8.5)(20.1) Repurchases of ordinary shares (99.5)— Cash dividends on preferred shares —(37.7) Payments related to tax withholding for share-based compensation (8.1)(9.9) Other financing activities 5.6(0.4) Net cash used for financing activities (110.5)(120.8) Effects of exchange rates 17.3(9.3) Net change in cash and cash equivalents, including restricted cash 67.45.7 Cash and cash equivalents, including restricted cash, beginning of period 295.2370.7 Cash and cash equivalents, including restricted cash, end of period $ 362.6$ 376.4 Supplemental Revenues Information Annualized contract value ("ACV"), at any point in time, represents the annualized value of all active customer subscription-based license agreements for the next 12 months, assuming those coming up for renewal during the measurement period are renewed at their current price level. Our organic ACV grew 1.3% compared to June 30, 2024, primarily driven by price increases. Our total ACV declined 3.5% compared to June 30, 2024, primarily due to the ScholarOne divestiture in November 2024 and the wind-down of certain product groups beginning in the first quarter of 2025. The following tables present our revenues by type and by segment for the periods indicated, as well as the components driving the changes between Months Ended June 30,Change% of Change20252024$ %Acquisitions Disposals FX Organic Subscription $ 405.7$ 405.6$ 0.1 — %0.1 % (3.1) % 1.3 % 1.7 % Re-occurring 108.9108.60.3 0.3 %— % — % 2.6 % (2.3) % Recurring revenues 514.6514.20.4 0.1 %0.1 % (2.4) % 1.6 % 0.8 % Transactional 106.8136.1(29.3) (21.5) %— % (21.1) % 1.0 % (1.4) % Revenues $ 621.4$ 650.3$ (28.9) (4.4) %0.1 % (6.4) % 1.4 % 0.5 % Six Months Ended June 30,Change% of Change20252024$ %Acquisitions Disposals FX Organic Subscription $ 794.3$ 808.7$ (14.4) (1.8) %0.2 % (2.8) % 0.2 % 0.6 % Re-occurring 214.8211.13.7 1.8 %— % — % 0.4 % 1.4 % Recurring revenues 1,009.11,019.8(10.7) (1.0) %0.2 % (2.1) % 0.2 % 0.7 % Transactional 206.0251.7(45.7) (18.2) %0.1 % (16.7) % 0.2 % (1.8) % Revenues $ 1,215.1$ 1,271.5$ (56.4) (4.4) %0.1 % (5.2) % 0.3 % 0.4 % Three Months Ended June 30,Change% of Change20252024$ %Acquisitions Disposals FX Organic Academia & Government $ 318.5$ 344.5$ (26.0) (7.5) %— % (11.0) % 1.0 % 2.5 % Intellectual Property 202.5201.60.9 0.4 %0.2 % — % 2.3 % (2.1) % Life Sciences & Healthcare 100.4104.2(3.8) (3.6) %0.2 % (5.3) % 1.2 % 0.3 % Revenues $ 621.4$ 650.3$ (28.9) (4.4) %0.1 % (6.4) % 1.4 % 0.5 % Six Months Ended June 30,Change% of Change20252024$ %Acquisitions Disposals FX Organic Academia & Government $ 621.2$ 662.2$ (41.0) (6.2) %— % (7.9) % 0.1 % 1.6 % Intellectual Property 395.2402.5(7.3) (1.8) %0.2 % (2.0) % 0.4 % (0.4) % Life Sciences & Healthcare 198.7206.8(8.1) (3.9) %0.5 % (3.2) % 0.2 % (1.4) % Revenues $ 1,215.1$ 1,271.5$ (56.4) (4.4) %0.1 % (5.2) % 0.3 % 0.4 % Reconciliations to Certain Non-GAAP Measures Adjusted EBITDA and Adjusted EBITDA margin Adjusted EBITDA represents Net income (loss) before the Provision (benefit) for income taxes, Depreciation and amortization, and Interest expense, net, adjusted to exclude share-based compensation, impairments, restructuring expenses, the impact of certain non-cash fair value adjustments on financial instruments, acquisition and/or disposal-related transaction costs, unrealized foreign currency gains/losses, legal settlements, and other items that are included in Net income (loss) for the period that we do not consider indicative of our ongoing operating performance. Net income (loss) margin is calculated by dividing Net income (loss) by Revenues. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by Revenues. The following table presents our calculation of Adjusted EBITDA and Adjusted EBITDA margin for the three and six months ended June 30, 2025 and 2024 and reconciles these non-GAAP measures to our Net income (loss) and Net income (loss) margin for the same periods:Three Months Ended June 30,Six Months Ended June 30, (In millions, except percentages); (unaudited) 2025202420252024 Net income (loss) $ (72.0)$ (304.3)$ (175.9)$ (379.3) Provision (benefit) for income taxes 12.3(6.8)31.18.2 Depreciation and amortization 190.9184.4376.3363.8 Interest expense, net 66.671.1130.9141.3 Share-based compensation expense 18.518.929.634.3 Goodwill and intangible asset impairments —302.8—302.8 Restructuring and other impairments 9.30.734.010.2 Fair value adjustment of warrants ———(5.2) Transaction related costs 8.13.114.47.5 Other(1) 27.94.554.427.1 Adjusted EBITDA $ 261.6$ 274.4$ 494.8$ 510.7 Net income (loss) margin (11.6) %(46.8) %(14.5) %(29.8) % Adjusted EBITDA margin 42.1 %42.2 %40.7 %40.2 % (1) Includes the net impact of foreign exchange gains and losses related to the remeasurement of balances and other items that do not reflect our ongoing operating performance. The six months ended June 30, 2024 includes a $14.8 loss on divestiture. Adjusted net income and Adjusted diluted EPS Adjusted net income represents Net income (loss), adjusted to exclude amortization related to acquired intangible assets, share-based compensation, impairments, restructuring expenses, the impact of certain non-cash fair value adjustments on financial instruments, acquisition and/or disposal-related transaction costs, unrealized foreign currency gains/losses, legal settlements, and other items that are included in net income (loss) for the period that we do not consider indicative of our ongoing operating performance and the associated income tax impact of such adjustments. Adjusted diluted EPS is calculated by dividing Adjusted net income by Adjusted diluted weighted average shares. The Adjusted diluted weighted average shares calculation assumes that all instruments in the calculation are dilutive. The following tables present our calculation of Adjusted net income and Adjusted diluted EPS for the three and six months ended June 30, 2025 and 2024 and reconciles these non-GAAP measures to our Net income (loss) and diluted EPS for the same periods:Three Months Ended June 30,20252024 (In millions, except per share amounts); (unaudited) AmountPer ShareAmountPer Share Net income (loss) and Diluted EPS $ (72.0)$ (0.11)$ (304.3)$ (0.44) Amortization related to acquired intangible assets 137.00.20139.70.20 Share-based compensation expense 18.50.0318.90.03 Goodwill and intangible asset impairments ——302.80.44 Restructuring and other impairments 9.30.010.7— Transaction related costs 8.10.013.1— Other(1) 28.00.054.5— Income tax impact of related adjustments (5.6)(0.01)(23.2)(0.03) Adjusted net income and Adjusted diluted EPS $ 123.3$ 0.18$ 142.2$ 0.20 Adjusted weighted average ordinary shares, diluted 684.6726.8 (1) Includes the net impact of foreign exchange gains and losses related to the remeasurement of balances and other items that do not reflect our ongoing operating performance. Six Months Ended June 30,20252024 (In millions, except per share amounts); (unaudited) AmountPer ShareAmountPer Share Net income (loss) and Diluted EPS $ (175.9)$ (0.26)$ (379.3)$ (0.56) Amortization related to acquired intangible assets 273.30.40278.20.41 Share-based compensation expense 29.60.0434.30.05 Goodwill and intangible asset impairments ——302.80.45 Restructuring and other impairments 34.00.0510.20.02 Fair value adjustment of warrants ——(5.2)(0.01) Transaction related costs 14.40.027.50.01 Other(1) 54.50.0927.10.01 Income tax impact of related adjustments (10.8)(0.02)(29.9)(0.04) Adjusted net income and Adjusted diluted EPS $ 219.1$ 0.32$ 245.7$ 0.34 Adjusted weighted average ordinary shares, diluted 689.9727.2 (1) Includes the net impact of foreign exchange gains and losses related to the remeasurement of balances and other items that do not reflect our ongoing operating performance. The six months ended June 30, 2024 includes a $14.8 loss on divestiture. Free cash flow Free cash flow represents Net cash provided by operating activities less Capital expenditures. The following table presents our calculation of Free cash flow for the three and six months ended June 30, 2025 and 2024 and reconciles this non-GAAP measure to Net cash provided by operating activities for the same periods:Three Months Ended June 30,Six Months Ended June 30, (In millions); (unaudited) 2025202420252024 Net cash provided by operating activities $ 116.3$ 126.2$ 287.5$ 302.4 Capital expenditures (66.0)(65.9)(126.9)(130.3) Free cash flow $ 50.3$ 60.3$ 160.6$ 172.1 Reconciliations to Certain Non-GAAP Measures - 2025 Outlook Adjusted EBITDA and Adjusted EBITDA margin The following table presents our calculation of Adjusted EBITDA and Adjusted EBITDA margin for the 2025 outlook and reconciles these non-GAAP measures to our Net income (loss) and Net income (loss) margin for the same period:Year Ending December 31, 2025 (Forecasted) (In millions); (unaudited) LowHigh Net income (loss) $ (333)$ (257) Provision (benefit) for income taxes 6266 Depreciation and amortization 761751 Interest expense, net 271261 Share-based compensation expense 7171 Restructuring and other impairments(1) 3939 Transaction related costs 1515 Other 5454 Adjusted EBITDA $ 940$ 1,000 Net income (loss) margin (14.6) %(10.7) % Adjusted EBITDA margin 40.5 %42.5 % (1) Reflects restructuring costs expected to be incurred in 2025 associated with the Value Creation Plan. Adjusted diluted EPS The following table presents our calculation of Adjusted diluted EPS for the 2025 outlook and reconciles this non-GAAP measure to our Net income (loss) per share for the same period:Year Ending December 31, 2025 (Forecasted) (Unaudited) LowHigh Net income (loss) (0.49)(0.39) Amortization related to acquired intangible assets 0.800.80 Share-based compensation expense 0.100.10 Restructuring and other impairments(1) 0.060.06 Transaction related costs 0.020.02 Other 0.130.13 Income tax impact of related adjustments (0.02)(0.02) Adjusted diluted EPS $ 0.60$ 0.70 Adjusted weighted average ordinary shares, diluted 685 million (1) Reflects restructuring costs expected to be incurred in 2025 associated with the Value Creation Plan. Free cash flow The following table presents our calculation of Free cash flow for the 2025 outlook and reconciles this non-GAAP measure to our Net cash provided by operating activities for the same period:Year Ending December 31, 2025 (Forecasted) (In millions); (unaudited) LowHigh Net cash provided by operating activities $ 555$ 635 Capital expenditures (255)(255) Free cash flow $ 300$ 380 View original content to download multimedia: SOURCE Clarivate Plc Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
4 hours ago
- Business
- Associated Press
Clarivate Announces Maroun S. Mourad as President, Intellectual Property
LONDON, July 30, 2025 /PRNewswire/ -- Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today announced that Maroun S. Mourad will join the Company as President of the Intellectual Property (IP) segment, effective September 8, 2025. Maroun most recently served as President of the Claims Solutions division of Verisk Analytics Inc. He succeeds Gordon Samson, who will retire at the end of 2025 after a high-impact career in the IP industry, spending five years as the Chief Operating Officer at CPA Global, before joining the Clarivate executive team, most recently as the President of the IP segment. Matti Shem Tov, Chief Executive Officer, Clarivate, said: 'This appointment confirms our commitment and strategy to drive long-term predictable growth in the IP business. Maroun has an excellent track record of growing global businesses with significant experience in delivering results in the data & analytics, software, and technology-enabled services space. I am confident he brings excellent leadership skills and experience to continue the IP business's focus on accelerating innovation and growth.' Matti continued: 'I would also like to thank Gordon for his commitment to the industry and to the success of Clarivate. His leadership and expertise have played a large role in setting up our operating model and driving our business transformation.' Maroun S. Mourad said: 'I'm honored to join Clarivate and lead such a talented IP team at a pivotal time for the company. I look forward to advancing our Intellectual Property solutions and helping our customers protect and maximize the value of their innovations and inventions.' As a data analytics and software executive, Maroun has profitably grown businesses in the U.S., U.K., Europe, and emerging markets since 1998. Most recently, Maroun led the integrated suite of products and services for the Verisk Analytics Claims Solutions division. He was responsible for the product portfolio, services, and acquisitions that deliver value to clients across the insurance policy lifecycle worldwide. His focus on team building, customer-centricity, and delivering quality results has driven business transformations in established, start-up, and turnaround environments. Maroun holds a BA in political science and a JD, both from the University of California, Berkeley. The Clarivate Intellectual Property segment provides trusted IP data, software, and expertise to help companies drive innovation, law firms achieve practice excellence, and organizations worldwide effectively manage and protect critical IP assets. Clarivate offers a diverse portfolio of adaptable solutions for every stage of the IP lifecycle, covering IP management software, patent services, patent intelligence, brand IP solutions, and litigation intelligence. About Clarivate Clarivate is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property, and Life Sciences & Healthcare. For more information, please visit Forward-Looking Statements This release includes statements that express our opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results and therefore are, or may be deemed to be, 'forward-looking statements' within the meaning of the 'safe harbor provisions' of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms 'aim,' 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'forecast,' 'future,' 'goal,' 'intend,' 'likely,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'see,' 'seek,' 'should,' 'strategy,' 'strive,' 'target,' 'will,' and 'would' and similar expressions, and variations or negatives of these terms. These forward-looking statements include all matters that are not historical facts, and include statements regarding our intentions, beliefs, or current expectations concerning, among other things, the future of our business, future plans and strategies, projections, prospects, results of operations, financial condition, anticipated events and trends, the economy, and other future conditions. Such forward-looking statements are based on available current market material and management's expectations, beliefs, and forecasts concerning future events impacting us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the caption 'Risk Factors' in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission ('SEC'). Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Please consult our public filings with the SEC, which are also available on our website at Source: Clarivate Plc View original content to download multimedia: SOURCE Clarivate Plc
CNBC
14-07-2025
- Business
- CNBC
Patent ownership for AI models heavily concentrated in Mainland China, says Clarivate analyst
Arun Hil, Senior Consultant at Clarivate discusses AI patent deployments in the West and China.
Yahoo
11-07-2025
- Business
- Yahoo
Clarivate Unveils Enhanced 2025 G20 Research, Innovation Scorecard with Expanded Data, AI Insights
Clarivate (NYSE:CLVT) is one of the cheap IT stocks hedge funds are buying. On July 9, Clarivate released its annual 2025 G20 Research and Innovation Scorecard. This scorecard was developed by experts at the Institute for Scientific Information/ISI at Clarivate and provides a data-driven overview of the research and innovation capabilities of G20 member nations. The 2025 scorecard now incorporates data from the Emerging Sources Citation Index/ESCI, which is a part of the Web of Science Core Collection, to provide a more comprehensive view of global research. The scorecard has been refined to better emphasize collaboration and impact, reflecting South Africa's Ubuntu philosophy, the G20 host for 2025. A state-of-the-art computer lab filled with engineers working on new analytics technologies. Dynamic visualizations are included to showcase each member's research performance within their economic context and academic priorities. New additions also include OECD field-level breakdowns, insights into open access, and research aligned with Sustainable Development Goals (SDGs), highlighting how G20 nations are collaborating to address global challenges. Clarivate (NYSE:CLVT) is an information services provider in the Americas, the Middle East, Africa, Europe, and the Asia Pacific. While we acknowledge the potential of CLVT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
Clarivate Releases 2025 G20 Research and Innovation Scorecard Highlighting Global Collaboration and Impact
New Data Reveals Shifting Global Partnerships, Rising Open Access, and Focus on SDG-Aligned Research LONDON, July 9, 2025 /CNW/ -- Clarivate Plc (NYSE:CLVT), a leading global provider of transformative intelligence, today published its annual G20 research and innovation scorecard, developed by expert analysts and data scientists at the Institute for Scientific Information (ISI) at Clarivate. This interactive scorecard offers a comprehensive, data-driven view of the research and innovation capabilities of G20 member nations. New in 2025, the scorecard incorporates data from the Emerging Sources Citation Index (ESCI), a multidisciplinary journal edition in the world's most trusted citation index – the Web of Science Core Collection. This addition enhances the scorecard's ability to reflect the full breadth of global research activity. This year the ISI has refined the scorecard to better highlight collaboration and impact, reflecting G20 host South Africa's Ubuntu philosophy of connectedness and collaboration. Through dynamic visualizations, it reveals each member's research performance alongside economic context and academic priorities. New features include OECD field-level breakdowns, insights into open access and SDG-aligned research, and a focus on how G20 nations are working together to address global challenges. The 2025 scorecard is freely available now on and launches ahead of the G20 Summit in Johannesburg, South Africa, on November 22–23. Emmanuel Thiveaud, Senior Vice President for Research & Analytics, Academia & Government at Clarivate said: "At Clarivate, we are committed to advancing responsible research assessment by providing transparent, data-driven insights that empower institutions and policymakers. The 2025 G20 scorecard reflects this commitment, highlighting the collaborative and societal impact of that research. By incorporating new data sources and refining our approach, we aim to support a more inclusive and connected global research ecosystem." Key findings from the 2025 G20 scorecard include: European Union: Collaboration with Mainland China has more than doubled over the past decade (from 3.0% in 2015 to 6.6% in 2024), while partnerships with the U.S. (12%) and U.K. (9%) remain steady. Mainland China: Leads the G20 in research output with nearly 900,000 papers in 2024 – triple its 2015 volume. Over half of these papers involve domestic collaboration, reflecting a shift toward internal partnerships. United States: International collaboration has increased to 43% but remains lower than other advanced economies, likely due to the scale of domestic research. Mainland China is the U.S.'s largest international partner, primarily through bilateral partnerships. United Kingdom: International collaboration has grown from 55% in 2015 to 70% in 2024, driven by multi-country partnerships. The U.S. remains the U.K.'s top partner, but collaboration with Mainland China has also risen significantly (from 5.5% to 14.4%). Canada: Maintains strong ties with the U.S., with 26.8% of Canadian papers in 2024 co-authored with U.S. researchers. Nearly half of these are in Medical & Health Sciences (47.2%), followed by Natural Sciences (39.5%). Australia: Mainland China has overtaken the U.S. as Australia's top research partner, with collaboration rising from 9.7% in 2015 to 19.5% in 2024. Most of this joint research is in Natural Sciences (56.3%) and Engineering & Technology (45.4%). Gordon Rogers, Senior Manager, Data Science at the Institute for Scientific Information at Clarivate said: "This year's scorecard tells a powerful story of how G20 nations are evolving their research strategies – embracing open access, deepening international partnerships, and aligning more closely with global challenges like the Sustainable Development Goals. Our enhanced visualizations and field-level insights make it easier than ever to explore these trends and understand the dynamics shaping global science." Notes to editors: The G20 research and innovation scorecard 2025 is available to explore on the Institute for Scientific Information page at with a freely downloadable executive summary highlighting key findings and trends. A blog analyzes India's research performance. The G20 members featured in the scorecard are: African Union, Argentina, Australia, Brazil, Canada, China (Mainland), European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Türkiye, the United Kingdom and the United States. The African Union became a full member of the G20 at the Delhi Summit in September 2023, having previously participated as an invited organization. *Note: Data for Mainland China includes Hong Kong SAR and Macau SAR. About ClarivateClarivate is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit Media contact:Rebecca Krahenbuhl, Senior Manager, External Communications, Academia & Governmentnewsroom@ View original content to download multimedia: SOURCE Clarivate Plc View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
