Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Clarivate PLC (NYSE:CLVT) reported second-quarter revenue growth of 61.4% year-over-year to $447 million (up 5% on an organic basis), beating the consensus of $435.24 million.
- Revenues from Subscription increased 12.5% Y/Y to $243.6 million, driven by the acquisition of CPA Global, Re-occurring revenues were $113.7 million, and Transactional increased 48.7% Y/Y to $89.8 million.
- Adjusted EPS of $0.17 (down from $0.18 in 2Q20) was in line with the consensus of $0.17.
- Adjusted EBITDA increased by 88.8% Y/Y to $189, and margin expanded by 613 bps to 42.3%.
- Clarivate generated an operating cash flow of $87.7 million, compared to $61.5 million a year ago, with an adjusted Free cash flow of $95.3 million.
- It held cash and cash equivalents of $2.6 billion at the end of the quarter. Total debt outstanding as of June 30, 2021, was $5.53 billion, increasing $1.99 billion compared to December 31, 2020.
- The company expects to exit 4Q21 with organic revenue growth towards the upper-end of 6% to 8% target.
- FY21 Outlook: Clarivate sees Adjusted Revenues of $1.80 billion to $1.84 billion (from $1.79 billion to $1.84 billion earlier )versus the consensus of 1.82 billion. It expects Adjusted EBITDA of $790 million to $825 million and a margin of 44% to 45%.
- It expects Adjusted EPS of $0.70 to $0.74 vs. a consensus estimate of $0.78 (down from prior $0.74 to $0.79).
- Price action: CLVT shares trading lower by 6.56% at $22.57 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!