Clarivate reports second quarter 2023 results

— updates 2023 outlook — london , aug. 3, 2023 /prnewswire/ -- clarivate plc - (nyse: clvt) (the "company" or "clarivate"), a global leader in connecting people and organizations to intelligence they can trust, today reported results for the second quarter. second quarter 2023 financial highlights revenues of $668.8 million decreased 2.6%, and 3.5% 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 organic revenues(1) decreased 0.4% as an increase in subscription revenues of 2.9% was offset by a decline in re-occurring revenues of 1.6% and transactional and other revenues of 7.5% net loss attributable to ordinary shares of $141.7 million increased $185.4 million driven primarily by the impairment charge in the current year period; net loss per diluted share of $0.21 decreased by $0.21 adjusted net income(1) of $152.2 million decreased 7.8%; adjusted income per diluted share(1) of $0.21 decreased 4.5% or $0.01 adjusted ebitda(1) of $284.9 million increased 3.8% driven by cost savings from integration programs; adjusted ebitda margin(1) of 42.6% increased 270 basis points net cash provided by operating activities increased $65.2 million to $162.4 million; free cash flow(1) increased $55.3 million to $104.8 million, allowing for continued deleveraging through further debt reduction and share repurchases  first half of 2023 financial highlights revenues of $1,297.9 million decreased 3.8%, and 3.3% 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 organic revenues(1) decreased 0.3% as an increase in subscription revenues of 2.9% was offset by a decline in re-occurring revenues of 1.7% and transactional and other revenues of 7.9% net loss attributable to ordinary shares of $117.0 million decreased $211.5 million driven primarily by the impairment charge in the current year period and lower mark-to-market gain on financial instruments; net loss per diluted share of $0.17 decreased by $0.10 adjusted net income(1) of $283.1 million decreased 11.6%; adjusted income per diluted share(1) of $0.39 decreased 9.3% or $0.04 adjusted ebitda(1) of $537.6 million increased 0.2% driven by cost savings from integration programs; adjusted ebitda margin(1) of 41.4% increased 160 basis points net cash provided by operating activities increased $225.3 million to $389.9 million; free cash flow(1) increased $197.5 million to $273.0 million  "clarivate continued to deliver on operational progress during the quarter, reinforcing the value proposition of our mission critical solutions across key sectors.
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