Clarivate Q3 revenue down 3.9%, posts net loss; withdraws 2024 outlook

CLARIVATE PLC

2024-Q3 EPS reported -$0.69 revenue$1,893,700,000

Revenue $622.2M (-3.9% YoY); organic revenue -2.6% with transactional sales down 13.6%.
Net loss $65.6M vs. profit $12.3M a year ago; diluted EPS -$0.09.
Adjusted diluted EPS $0.19 (-9.5%); Adjusted EBITDA $264.4M (-6.0%), margin 42.5%.
CEO Matti Shem Tov called results unsatisfactory; Company removed 2024 outlook citing CEO transition and Value Creation Plan.
Free cash flow $126.3M in Q3 (+24.2% YoY), but YTD FCF fell 20.4% to $298.4M.

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