Clarivate reports third quarter 2023 results

— reaffirms 2023 outlook — london , nov. 7, 2023 /prnewswire/ -- clarivate plc - (nyse: clvt) (the "company" or "clarivate"), a global leader in connecting people and organizations to intelligence they can trust to transform their world, today reported results for the third quarter. third  quarter 2023 financial highlights revenues of $647.2 million increased 1.8%, and decreased 1.3% at constant currency(2) organic revenues increased 1.7% driven by an increase in transactional and other revenues of 3.5%, subscription revenues of 1.3% and re-occurring revenues of 0.5% net loss attributable to ordinary shares of $6.6 million; net loss per diluted share of $0.01 adjusted net income(1) of $152.6 million increased 6.2%; adjusted income per diluted share(1) of $0.21 increased 5.0% or $0.01 adjusted ebitda(1) of $281.4 million increased 3.6% driven by cost savings from integration programs; adjusted ebitda margin(1) of 43.5% increased 80 basis points net cash provided by operating activities decreased $44.4 million to $163.4 million; free cash flow(1) decreased $38.7 million to $101.7 million, driven by timing-related, in quarter working capital requirements nine months ended september 30, 2023 financial highlights revenues of $1,945.1 million decreased 2.0%, and 2.6% at constant currency(2), driven primarily by the divestiture of markmonitor in october 2022, for which there were no comparable amounts in the current year period organic revenues increased 0.3% as an increase in subscription revenues of 2.3% was offset by a decline in re-occurring revenues of 1.0% and transactional and other revenues of 4.3% net loss attributable to ordinary shares of $123.6 million; net loss per diluted share of $0.18 adjusted net income(1) of $435.7 million decreased 6.1%; adjusted income per diluted share(1) of $0.59 decreased 6.3% or $0.04 adjusted ebitda(1) of $819.0 million increased 1.3% driven by cost savings from integration programs; adjusted ebitda margin(1) of 42.1% increased 140 basis points net cash provided by operating activities increased $180.9 million to $553.3 million; free cash flow(1) increased $158.8 million to $374.7 million "our improved third quarter performance was driven by organic growth from our academia & government and life sciences & healthcare (ls&h) segments, each delivering their highest quarterly revenue growth rate over the past year," said jonathan gear, chief executive officer.
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