Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Q2 2022 Earnings Conference Call August 3, 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

Peter Heckmann - D.A. Davidson

Michael Berg - Wells Fargo

Brian Schwartz - Oppenheimer

Rishi Jaluria - RBC

Kamil Mielczarek - William Blair

James Faucette - Morgan Stanley

Gabriela Borges - Goldman Sachs

Noah Herman - JPMorgan

Yun Kim - Loop Capital

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the Clearwater Analytics Second Quarter 2022 Financial Results Conference Call. [Operator Instructions] 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 Second 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. Expressions 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 had a strong Q2. Revenue grew to $73.4 million in the quarter, which constitutes a robust 21% year-on-year growth and a strong sequential growth from $70.8 million in quarter 1. Booking in Q2 was the highest ever Q2 booking in the company's history, which provides us with a solid foundation for sustained growth.