Clearwater Analytics Holdings, Inc. (NYSE:CWAN) Q1 2022 Earnings Conference Call May 4, 2022 5:00 PM ET

Company Participants

Sandeep Sahai - Chief Executive Officer

Jim Cox - Chief Financial Officer

JR Ritchie - VP, Finance & Investor Relations

Conference Call Participants

Gabriela Borges - Goldman Sachs

James Faucette - Morgan Stanley

Rishi Jaluria - RBC Capital Markets

Pete Heckmann - D.A. Davidson

Kamil Mielczarek - William Blair

David Unger with - Fargo

Operator

Good afternoon. Thank you for attending today's Clearwater Analytics First Quarter Earnings Conference Call. My name is Tania and I will be your moderator for today's call. [Operator instructions]

I would now like to pass the conference over to our host, JR Ritchie, vice president of finance and investor relations. Please go ahead.

JR Ritchie

Thank you, and welcome, everyone, to Clearwater Analytics first 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 up to a question-and-answer session. I'd 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. Expression 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 statements 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 Sahi.

Sandeep Sahai

Thank you, Dan, and welcome, everyone. We had another strong quarter as we continue to deliver value to our clients, onboard new clients, and generate strong bookings to fuel further growth. More specifically, we have had consistent and durable revenue growth, high rates of revenue retention, and strong profitability. We're very happy to announce that revenue in the quarter grew 24% year over year to $70.8 million, a quarterly record.