Clarivate reports first quarter 2024 results

— reaffirms 2024 outlook — london , may 8, 2024 /prnewswire/ -- clarivate plc (nyse: clvt) (the "company" or "clarivate"), a leading global provider of transformative intelligence, today reported results for the first quarter ended march 31, 2024. first  quarter 2024 financial highlights revenues of $621.2 million decreased 1.3% organic revenues decreased 1.7%, as an increase in subscription revenues of 2.4% was more than offset by a decrease in transactional and other revenues of 11.4% and re-occurring revenues of 5.1% net loss attributable to ordinary shares of $93.8 million; net loss per diluted share of $0.14 adjusted net income(1) of $103.5 million decreased 20.9%; adjusted diluted eps(1) of $0.14 decreased 22.2% or $0.04 adjusted ebitda(1) of $236.3 million decreased 6.5%; adjusted ebitda margin(1) of 38.0% decreased 220 basis points primarily due to lower revenues net cash provided by operating activities of $176.2 million decreased $51.3 million; free cash flow(1) of $111.8 million decreased $56.4 million primarily due to the timing of working capital "we are making great progress this year on key objectives including product investments and operational initiatives to drive future organic revenue growth," said jonathan gear, chief executive officer.
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