Q1 2025 Clarivate PLC Earnings Call Transcript
Key Points
- Clarivate PLC (CLVT) reported an increase in organic revenue for the first time in over a year, with recurring organic revenue growing nearly 1%.
- The company achieved a 200 basis point improvement in the mix of recurring revenue to total revenue, now at 83%.
- Free cash flow remained strong, generating $110 million in the first quarter.
- Clarivate PLC (CLVT) secured significant new deals, including a strategic SaaS agreement with the British Library and a multi-year contract with the Brazilian Academic consortium.
- The company is making progress with its value creation plan, focusing on subscription-centric models and product innovation, including AI-powered features.
- Clarivate PLC (CLVT) experienced a net loss of $104 million in the first quarter, attributed to higher restructuring expenses.
- The company faces potential risks from US government funding cuts, although it believes the impact is contained within its guidance range.
- Transactional revenue is expected to remain down for the full year, with a conservative outlook due to the current macroeconomic environment.
- The company is undergoing strategic disposals, which are expected to lower revenue by approximately $140 million this year.
- Clarivate PLC (CLVT) continues to face foreign exchange translation headwinds, impacting both top and bottom lines.
Thank you for joining ladies and gentlemen. My name is Karen. I'll be your conference operator. At this time, I'd like to welcome you to the Clarivate Q1 2025 earnings conference call (Operator Instructions) Thank you, I would like to now turn the call over to Mark Donohue, VP investor relations.
Thank you, Karen. Good morning, everyone and thank you for joining us. The Clarivate's first quarter of 2025 earnings conference call. As a reminder, this conference call is being recorded and webcast and copyrighted property of Clarivate, and the rebroadcast of this information or in part without prior rating of clarity is prohibited. Company earnings call presentation is available in the investor resection of the company's website.
During our call, we may make certain forward-looking statements within the meaning of the applicable securities laws. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or
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