CLARIVATE (CLVT) financial statements
CLARIVATE reported revenue of $2.5B in fiscal 2025, up 13.1% a year over 8 years.
Net income was -$201M and the operating margin 2.9%, against -16.0% in 2017.
Free cash flow was $365M.
The diluted share count rose 210% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from CLARIVATE's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $918M | $968M | $974M | $1.3B | $1.9B | $2.7B | $2.6B | $2.6B | $2.5B |
| Cost of revenue | — | $430M | $352M | $439M | $626M | $954M | $906M | $869M | $834M |
| Gross profit | — | $538M | $622M | $815M | $1.3B | $1.7B | $1.7B | $1.7B | $1.6B |
| Research and development | $18M | $14M | — | — | — | — | — | — | — |
| Selling, general and admin | $343M | $413M | $475M | $545M | $643M | $730M | $740M | $728M | $709M |
| Operating income | -$147M | -$106M | -$82M | -$36M | -$87M | -$3.9B | -$735M | -$276M | $72M |
| Interest expense | $138M | $131M | $158M | $112M | $252M | $270M | $294M | — | — |
| Pre-tax income | -$285M | -$237M | -$248M | -$353M | -$258M | -$4.0B | -$1.0B | -$554M | -$194M |
| Income tax | -$21M | $6M | $10M | -$3M | $12M | -$29M | -$101M | $83M | $7M |
| Net income | -$264M | -$242M | -$259M | -$351M | -$270M | -$4.0B | -$911M | -$637M | -$201M |
| EPS (diluted) | -$1.22 | -$1.11 | -$0.94 | -$0.82 | -$0.61 | -$6.24 | -$1.47 | -$0.96 | -$0.30 |
| Diluted shares | 217M | 217M | 274M | 427M | 641M | 679M | 672M | 694M | 673M |
| Gross margin | — | 55.6% | 63.9% | 65.0% | 66.6% | 64.1% | 65.5% | 66.0% | 66.0% |
| Operating margin | -16.0% | -10.9% | -8.5% | -2.9% | -4.6% | -147.6% | -27.9% | -10.8% | 2.9% |
| Net margin | -28.8% | -25.0% | -26.5% | -28.0% | -14.4% | -148.9% | -34.7% | -24.9% | -8.2% |
Balance sheet
Fiscal years, from CLARIVATE's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $53M | $26M | $76M | $258M | $431M | $357M | $371M | $295M | $329M |
| Receivables | $318M | $331M | $334M | $738M | $906M | $872M | $908M | $798M | $822M |
| Total current assets | $444M | $409M | $493M | $1.1B | $1.6B | $1.4B | $1.5B | $1.2B | $1.3B |
| Property, plant and equipment | $23M | $21M | $18M | $36M | $84M | $54M | $52M | $54M | $53M |
| Goodwill | $1.3B | $1.3B | $1.3B | $6.0B | $7.9B | $2.9B | $2.0B | $1.6B | $1.6B |
| Total assets | $4.0B | $3.7B | $3.8B | $14.8B | $20.2B | $13.9B | $12.7B | $11.5B | $11.1B |
| Total current liabilities | $661M | $644M | $651M | $1.4B | $1.9B | $1.6B | $1.6B | $1.4B | $1.6B |
| Long-term debt | $2.0B | $1.9B | $1.6B | $3.5B | $5.5B | $5.0B | $4.7B | $4.5B | $4.3B |
| Total liabilities | $2.7B | $2.7B | $2.5B | $5.8B | $8.3B | $7.1B | $6.7B | $6.4B | $6.2B |
| Shareholders' equity | $1.3B | $1.1B | $1.2B | $9.0B | $11.9B | $6.8B | $6.0B | $5.1B | $4.8B |
| Net debt | $2.0B | $2.0B | $1.6B | $3.2B | $5.1B | $4.6B | $4.4B | $4.2B | $4.0B |
Cash flow
Fiscal years, from CLARIVATE's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7M | -$26M | $118M | $264M | $324M | $509M | $744M | $647M | $628M |
| Capital spending | $38M | $45M | $70M | $108M | $118M | $203M | $242M | $289M | $263M |
| Free cash flow | -$31M | -$72M | $48M | $156M | $205M | $306M | $502M | $358M | $365M |
| Stock-based compensation | $18M | $14M | $51M | $34M | $33M | $94M | $109M | $60M | $63M |
| Dividends paid | — | — | — | $0 | $19M | $75M | $76M | $38M | $0 |
| Net borrowing | $15M | -$2M | $1.6B | $2.0B | $1.8B | -$322M | -$300M | -$198M | -$100M |
| Free cash flow margin | -3.4% | -7.4% | 4.9% | 12.4% | 10.9% | 11.5% | 19.1% | 14.0% | 14.9% |
| Dividends per share | — | — | — | — | $0.03 | $0.11 | $0.11 | $0.05 | — |
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Open CLVT in InvestinglyQuestions
What was CLARIVATE's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does CLARIVATE generate?
$365M in fiscal 2025 (operating cash flow minus capital spending).
From CLARIVATE's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.