Clarivate Q2 2024 revenue down 2.8%, adjusted EPS $0.20, reaffirms FY outlook

CLARIVATE PLC

2024-Q2 EPS reported -$0.61 revenue$1,271,500,000

Revenues $650.3M, down 2.8% YoY; organic revenue declined 0.6% with subscription growth offset by transactional/other.
Net loss $304.3M vs $123.1M loss a year ago; adjusted diluted EPS $0.20, down 4.8% or $0.01.
Adjusted EBITDA $274.4M (42.2% margin), down 3.7%; free cash flow $60.3M, down 42.5%.
Reaffirmed FY2024 outlook: revenue $620-640M, adjusted EBITDA $72-76M, free cash flow $45-55M.
Total debt decreased $53.1M to $4,717.2M since Dec 31, 2023, driven by accelerated repayment.

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