Clarivate Q1 revenue $629M (-5% YoY); adj. EPS $0.18; CRO departs; reaffirms FY outlook

CLARIVATE PLC

2023-FY EPS reported $0.04 revenue$629,100,000

Revenue $629.1M (-5% YoY; -3.1% constant currency); organic revenue -0.2% due to MarkMonitor divestiture and FX.
Net income attributable to ordinary shares $24.7M ($0.04 diluted EPS); adjusted net income $130.9M ($0.18 adjusted diluted EPS).
Cash flow strong: net operating cash $227.5M, free cash flow $168.2M; debt repayment accelerated by $125M.
Reaffirmed full-year 2023 outlook; Web of Science subscription growth inflection noted.
Chief Revenue Officer Steen Lomholt-Thomsen to depart July 1, 2023; will stay as advisor through Dec 31, 2023.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Steen Lomholt-Thomsen

Chief Revenue Officer

CLVT · CLARIVATE PLC

Effective: 2023-07-01
Filed: May 9, 2023, 7:59 PM ET

Steen Lomholt-Thomsen, Chief Revenue Officer of Clarivate Plc (the “Company”) will depart from his position, effective July 1, 2023.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CLARIVATE PLC reported first quarter ended March 31, 2023 results: revenue $629.1 million, net income $24.7 million, EPS $0.04. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $629.1 million
Net income: $24.7 million
EPS: $0.04
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Revenues of $629.1 million decreased 5.0%, and 3.1% at constant currency (1) , driven primarily by the divestiture of MarkMonitor in October 2022, for which there were no comparable amounts in the current year period and year-over-year strengthening of the US dollar • Organic revenues (1) decreased 0.2% as an increase in subscription revenues of 3.1% was partially offset by a decline in re-occurring revenues of 1.7% and transactional and other revenues of 8.3% • Net income attributable to ordinary shares of $24.7 million decreased $26.1 million driven by the mark-to-market gain on financial instruments in the prior year quarter and an increase in interest costs, which was partially offset by a tax benefit in the current year quarter; Net income per diluted share of $0.04 increased by $0.10

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Steen Lomholt-Thomsen departed as Chief Revenue Officer at CLARIVATE PLC.

Action: will depart
Role: Chief Revenue Officer

Exact text from the filing

Steen Lomholt-Thomsen, Chief Revenue Officer of Clarivate Plc (the “Company”) will depart from his position, effective July 1, 2023.

View on SEC.gov

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CLARIVATE PLC filing history →

Source: SEC EDGAR

accession 0001764046-23-000069

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