Clarivate reports fourth quarter and full year 2023 results
— provides 2024 outlook — london , feb. 27, 2024 /prnewswire/ -- clarivate plc (nyse: clvt) (the "company" or "clarivate"), a leading global provider of transformative intelligence, today reported results for the fourth quarter and full year ended december 31, 2023. fourth quarter 2023 financial highlights revenues of $683.7 million increased 1.2%, and decreased 0.6% at constant currency(2) organic revenues increased 0.1% as increases in subscription revenues of 2.6% and re-occurring revenues of 3.8% were offset by a decline in transactional and other revenues of 8.3% net loss attributable to ordinary shares of $863.0 million due to the $844.7 non-cash impairment of goodwill and intangible assets; net loss per diluted share of $1.30 adjusted net income(1) of $163.4 million decreased 0.4%; adjusted diluted eps(1) of $0.23 increased 4.5% or $0.01 adjusted ebitda(1) of $298.2 million decreased 2.0%; adjusted ebitda margin(1) of 43.6% decreased 150 basis points net cash provided by operating activities increased $54.0 million to $190.9 million; free cash flow(1) increased $36.5 million to $127.0 million full year 2023 financial highlights revenues of $2,628.8 million decreased 1.2%, and 2.1% 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 increases in subscription revenues of 2.4% and re-occurring revenues of 0.2% were offset by a decline in transactional and other revenues of 5.4% net loss attributable to ordinary shares of $986.6 million improved from a loss of $4,035.6 million for the full year 2022 due to a $3,469.2 million reduction of non-cash impairment charges of goodwill and intangible assets; net loss per diluted share of $1.47 improved by $4.77 adjusted net income(1) of $599.1 million decreased 4.6%; adjusted diluted eps(1) of $0.82 decreased 3.5% or $0.03 adjusted ebitda(1) of $1,117.2 million increased 0.4% and adjusted ebitda margin(1) of 42.5% increased 70 basis points net cash provided by operating activities increased $234.9 million to $744.2 million; free cash flow(1) increased $195.3 million to $501.7 million "in 2023, we delivered subscription revenue growth and navigated through market headwinds.
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