Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Q3 2022 Earnings Conference Call November 2, 2022 5:00 PM ET
Company Participants
Joon Park - Head of Investor Relations
Sandeep Sahai - Chief Executive Officer
James Cox - Chief Financial Officer
Conference Call Participants
Michael Infante - Morgan Stanley
Peter Heckmann - D.A. Davidson
Rishi Jaluria - RBC
Kamil Mielczarek - William Blair
Ella Smith - JPMorgan Chase
Michael Turrin - Wells Fargo
Brian Schwartz - Oppenheimer
Operator
Ladies and gentlemen, thank you for standing by and welcome to the Clearwater Analytics' Third Quarter 2022 Financial Results Conference Call. At this time, all participants are in listen-only mode. After the speaker presentation, there will be a question-and-answer session.
And now I would like to welcome Joon Park, Head of Investor Relations, to begin the conference.
Joon Park
Thank you, and welcome, everyone to Clearwater Analytics third quarter 2022 financial results conference call. Joining me on the call today are Sandeep Sahai, Chief Executive Officer; and Jim Cox, Chief Financial Officer. After their remarks, we will open the call to a question-and-answer session.
I would like to remind all participants that during this conference call, any forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Expectation of future goals, including business outlook, expectations for future financial performance and similar items, including, without limitation, expressions using the terminology may, will, can, expect and believe, and expressions which reflect something other than historical facts are intended to identify forward-looking statements.
Forward-looking statements involve a number of risks and uncertainties, including those discussed in the Risk Factors section of our filings with the SEC. Actual results may differ materially from any forward-looking statements. The company undertakes no obligation to revise or update any forward-looking statements in order to reflect events that may arise after this conference call, except as required by law. For more information, please refer to the cautionary statement included in our earnings press release.
Lastly, all metrics discussed on this call are non-GAAP, unless otherwise noted. A reconciliation can be found in the earnings press release that we have posted to our Investor Relations website.
With that, I'll turn the call over to our Chief Executive Officer, Sandeep Sahai.
Sandeep Sahai
Thank you, Joon, and welcome everyone. We continue to execute effectively and demonstrate momentum with a strong Q3. Revenue grew to $76.6 million in the quarter, which constitutes some 19% year-on-year growth, beating the upper end of our revenue guidance by 2%. As significantly, we showed strong sequential growth of 4% from Q2 to Q3. We are very happy to announce significant new wins where we are displacing legacy competitors.