CLARIVATE PLC

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 6, 2024

CLVT$2.39+0.8%Stored close · as of Nov 10, 2026

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Contents

Item 1. Financial Statements (Unaudited)

Condensed Consolidated Balance Sheets (Unaudited)

(In millions)	June 30, 2024	December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents, including restricted cash	$376.4	$370.7
Accounts receivable, net	796.3	908.3
Prepaid expenses	87.1	88.5
Other current assets	75.0	68.0
Assets held for sale	—	26.7
Total current assets	1,334.8	1,462.2
Property and equipment, net	46.0	51.6
Other intangible assets, net	8,771.3	9,006.6
Goodwill	1,736.5	2,023.7
Other non-current assets	91.6	60.8
Deferred income taxes	49.3	46.7
Operating lease right-of-use assets	48.2	55.2
Total assets	$12,077.7	$12,706.8
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable	$128.1	$144.1
Accrued compensation	107.2	126.5
Accrued expenses and other current liabilities	314.1	315.2
Current portion of deferred revenues	912.4	983.1
Current portion of operating lease liability	23.3	24.4
Liabilities held for sale	—	6.7
Total current liabilities	1,485.1	1,600.0
Long-term debt	4,635.3	4,721.1
Non-current portion of deferred revenues	23.9	38.7
Other non-current liabilities	49.9	41.9
Deferred income taxes	229.0	249.6
Operating lease liabilities	49.9	63.2
Total liabilities	6,473.1	6,714.5
Commitments and contingencies (Note 14)
Shareholders' equity:
Preferred Shares, no par value; 14.4 shares authorized; 5.25% Mandatory Convertible Preferred Shares, Series A, zero and 14.4 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	—	1,392.6
Ordinary Shares, no par value; unlimited shares authorized; 724.1 and 666.1 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	13,157.7	11,740.5
Accumulated other comprehensive loss	(497.0)	(495.3)
Accumulated deficit	(7,056.1)	(6,645.5)
Total shareholders' equity	5,604.6	5,992.3
Total liabilities and shareholders' equity	$12,077.7	$12,706.8

Condensed Consolidated Statements of Operations (Unaudited)

	Three Months Ended June 30,		Six Months Ended June 30,
(In millions, except per share data)	2024	2023	2024	2023
Revenues	$650.3	$668.8	$1,271.5	$1,297.9
Operating expenses:
Cost of revenues	213.6	224.2	431.4	453.9
Selling, general and administrative costs	185.2	192.9	377.1	387.7
Depreciation and amortization	184.4	178.1	363.8	350.7
Goodwill and intangible asset impairments	302.8	135.2	302.8	135.2
Restructuring and other impairments	0.7	12.2	10.2	21.6
Other operating expense (income), net	3.6	14.5	21.2	(17.5)
Total operating expenses	890.3	757.1	1,506.5	1,331.6
Income (loss) from operations	(240.0)	(88.3)	(235.0)	(33.7)
Fair value adjustment of warrants	—	(2.9)	(5.2)	(1.8)
Interest expense, net	71.1	73.0	141.3	146.6
Income (loss) before income taxes	(311.1)	(158.4)	(371.1)	(178.5)
Provision (benefit) for income taxes	(6.8)	(35.3)	8.2	(98.9)
Net income (loss)	(304.3)	(123.1)	(379.3)	(79.6)
Dividends on preferred shares	12.5	18.6	31.3	37.4
Net income (loss) attributable to ordinary shares	$(316.8)	$(141.7)	$(410.6)	$(117.0)
Per share:
Basic	$(0.46)	$(0.21)	$(0.61)	$(0.17)
Diluted	$(0.46)	$(0.21)	$(0.61)	$(0.17)
Weighted average shares used to compute earnings per share:
Basic	685.6	675.9	676.2	675.4
Diluted	685.6	675.9	676.2	675.4

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.