Clarivate reports third quarter 2024 results

London , nov. 6, 2024 /prnewswire/ -- clarivate plc (nyse: clvt) (the "company" or "clarivate"), a leading global provider of transformative intelligence, today reported results for the third quarter ended september 30, 2024. third  quarter 2024 financial highlights revenues of $622.2 million decreased 3.9% organic revenues decreased 2.6%, as an increase in subscription revenues of 0.6% was offset by a decrease in re-occurring revenues of 1.1% and transactional and other revenues of 13.6% net loss of $65.6 million; net loss per diluted share of $0.09 adjusted net income(1) of $134.1 million decreased 12.1%; adjusted diluted eps(1) of $0.19 decreased 9.5% or $0.02 adjusted ebitda(1) of $264.4 million decreased 6.0%; adjusted ebitda margin(1) of 42.5% decreased 100 basis points primarily due to lower revenues net cash provided by operating activities of $202.9 million increased $39.5 million; free cash flow(1) of $126.3 million increased $24.6 million primarily due to the timing of working capital nine months ended september 30, 2024 financial highlights revenues of $1,893.7 million decreased 2.6% organic revenues decreased 1.5% as an increase in subscription revenues of 1.2% was offset by a decline in re-occurring revenues of 2.3% and transactional and other revenues of 9.3% net loss of $444.9 million; net loss per diluted share of $0.69 adjusted net income(1) of $379.8 million decreased 12.8%; adjusted diluted eps(1) of $0.52 decreased 11.9% or $0.07 adjusted ebitda(1) of $775.1 million decreased 5.4%; adjusted ebitda margin(1) of 40.9% decreased 120 basis points primarily due to lower revenues net cash provided by operating activities decreased $48.0 million to $505.3 million; free cash flow(1) decreased $76.3 million to $298.4 million primarily due to lower operating income and increased capital expenditures "clarivate's third quarter results are unsatisfactory and reflect an overdependency on fluctuating transactional revenue and areas of the business with low margin characteristics," said matti shem tov, chief executive officer.
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