Clarivate Reports Third Quarter 2024 Results
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Clarivate Plc reported a decrease in revenues and net income for Q3 2024, with a net loss of $65.6 million. The company experienced a decline in organic revenues and adjusted EBITDA, while free cash flow increased due to working capital timing. CEO Matti Shem Tov highlighted the company's overdependency on low-margin transactional revenue.
November 06, 2024 | 11:15 am
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Clarivate Plc reported a 3.9% decrease in Q3 2024 revenues and a net loss of $65.6 million. The company faces challenges with declining organic revenues and adjusted EBITDA, while free cash flow increased due to working capital timing.
The reported decrease in revenues and net income, along with a net loss, indicates financial challenges for Clarivate. The CEO's comments on overdependency on low-margin transactional revenue suggest potential strategic issues. These factors are likely to negatively impact the stock price in the short term.
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