Clearwater Analytics Holdings, Inc. (NYSE: CWAN) reported record financial results for the fourth quarter and full year of 2024, driven by strong revenue growth and expanding margins.

For the fourth quarter, revenue reached $126.5 million, a 28% increase year-over-year, with an annualized recurring revenue (ARR) of $474.9 million, reflecting a 25% growth. The company achieved a net revenue retention rate of 116%, demonstrating strong client engagement and expansion. Net income for the quarter was $420.3 million, while adjusted EBITDA grew 39% year-over-year to $41.7 million, with an adjusted EBITDA margin of 33%.

For the full year 2024, revenue totaled $451.8 million, growing 23% from 2023. Net income came in at $427.6 million, with an adjusted EBITDA of $145.7 million, representing a margin of 32.2%.

CEO Sandeep Sahai emphasized the company's strong execution, which allowed it to surpass its financial targets ahead of schedule. He highlighted continued investments in R&D, including Generative AI, and significant growth opportunities in North America, Europe, and Asia. He also noted that Clearwater Analytics' recently announced acquisition of Enfusion would expand its product offerings, enabling the company to provide a comprehensive front-to-back investment management platform.

The company remains focused on scaling operations while delivering value to clients, employees, and shareholders.