Revenue growth remains elusive with a 1.4% year-over-year decline in 2026Q1, while operating margins remain constrained at 5.2% despite a stable 67.2% gross margin profile.
| Sales/Revenue | 2.45B | 2.46B | 2.56B | 2.63B | 2.66B | 1.88B | 1.25B | 974.35M | 968.47M | 917.63M |
| Revenue Growth % | -3.25% | -3.97% | -2.74% | -1.17% | 41.71% | 49.66% | 28.71% | 0.61% | 5.54% | - |
| Cost of Goods Sold | 818.7M | 833.6M | 869.2M | 906.4M | 954M | 626.1M | 438.8M | 352M | 396.5M | 394.21M |
| COGS % of Revenue | - | 33.95% | 34% | 34.48% | 35.87% | 33.36% | 34.99% | 36.13% | 40.94% | 42.96% |
| Gross Profit | 1.63B | 1.62B | 1.69B | 1.72B | 1.71B | 1.25B | 815.3M | 622.35M | 571.97M | 523.42M |
| Gross Margin % | 66.54% | 66.05% | 66% | 65.52% | 64.13% | 66.64% | 65.01% | 63.87% | 59.06% | 57.04% |
| Gross Profit Growth % | - | -3.91% | -2.03% | 0.97% | 36.38% | 53.42% | 31% | 8.81% | 9.28% | - |
| Operating Expenses | 1.51B | 1.55B | 1.96B | 2.46B | 5.63B | 1.34B | 851.6M | 704.83M | 613.94M | 589.51M |
| OpEx % of Revenue | - | 63.14% | 76.78% | 93.47% | 211.72% | 71.28% | 67.91% | 72.34% | 63.39% | 64.24% |
| Selling, General & Admin | 706.5M | 708.6M | 727.6M | 739.7M | 729.9M | 643M | 544.7M | 475.01M | 383.09M | 360.81M |
| SG&A % of Revenue | - | 28.86% | 28.46% | 28.14% | 27.44% | 34.26% | 43.43% | 48.75% | 39.56% | 39.32% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 841.5M | 1.24B | 1.72B | 4.9B | 694.8M | 306.9M | 229.82M | 230.85M | 0 |
| Operating Income | 122.5M | 71.5M | -275.6M | -734.7M | -3.93B | -87M | -36.3M | -82.49M | -105.71M | -147.03M |
| Operating Margin % | 5.01% | 2.91% | -10.78% | -27.95% | -147.59% | -4.64% | -2.89% | -8.47% | -10.91% | -16.02% |
| Operating Income Growth % | - | 125.94% | 62.49% | 81.28% | -4412.18% | -139.67% | 55.99% | 21.97% | 28.1% | - |
| EBITDA | 878.3M | 828.7M | 451.4M | -26.4M | -3.22B | 450.8M | 266.9M | 118.06M | 131.52M | 81.44M |
| EBITDA Margin % | 35.89% | 33.75% | 17.66% | -1% | -120.88% | 24.02% | 21.28% | 12.12% | 13.58% | 8.87% |
| EBITDA Growth % | 103.5% | 83.58% | 1809.85% | 99.18% | -813.2% | 68.9% | 126.08% | -10.24% | 61.5% | - |
| D&A (Non-Cash Add-back) | 755.8M | 757.2M | 727M | 708.3M | 710.5M | 537.8M | 303.2M | 200.54M | 237.22M | 228.46M |
| EBIT | 122.5M | 71.5M | -270.4M | -718.8M | -3.72B | -5.7M | -241.4M | -90.74M | -105.71M | -147.03M |
| Net Interest Income | -260.1M | -265.4M | -283.4M | -293.7M | -270.3M | -252.5M | -111.9M | -157.69M | -130.81M | -138.2M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 260.1M | 265.4M | 283.4M | 293.7M | 270.3M | 252.5M | 111.9M | 157.69M | 130.81M | 138.2M |
| Other Income/Expense | -260.1M | -265.4M | -278.2M | -277.8M | -63.5M | -171.2M | -317M | -165.95M | -130.81M | -138.2M |
| Pretax Income | -137.6M | -193.9M | -553.8M | -1.01B | -3.99B | -258.2M | -353.3M | -248.43M | -236.51M | -285.22M |
| Pretax Margin % | -5.62% | -7.9% | -21.66% | -38.52% | -149.98% | -13.76% | -28.17% | -25.5% | -24.42% | -31.08% |
| Income Tax | -200K | 7.2M | 82.9M | -101.3M | -28.9M | 12.3M | -2.7M | 10.2M | 5.65M | -21.29M |
| Effective Tax Rate % | 0.15% | -3.71% | -14.97% | 10% | 0.72% | -4.76% | 0.76% | -4.11% | -2.39% | 7.47% |
| Net Income | -137.4M | -201.1M | -636.7M | -911.2M | -3.96B | -270.5M | -350.6M | -258.63M | -242.16M | -263.93M |
| Net Margin % | -5.62% | -8.19% | -24.9% | -34.66% | -148.89% | -14.41% | -27.96% | -26.54% | -25% | -28.76% |
| Net Income Growth % | 79.36% | 68.42% | 30.13% | 76.99% | -1364.03% | 22.85% | -35.56% | -6.8% | 8.25% | - |
| Net Income (Continuing) | -137.4M | -201.1M | -636.7M | -911.2M | -3.96B | -270.5M | -350.6M | -258.63M | -242.16M | -263.93M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.21 | -0.30 | -0.96 | -1.47 | -6.24 | -0.61 | -0.63 | -0.39 | -0.79 | -0.86 |
| EPS Growth % | 78.35% | 68.75% | 34.69% | 76.44% | -922.95% | 3.17% | -61.54% | 50.63% | 8.14% | - |
| EPS (Basic) | - | -0.30 | -0.96 | -1.47 | -6.26 | -0.62 | -0.63 | -0.39 | -0.79 | -0.86 |
| Diluted Shares Outstanding | 640.7M | 673.3M | 693.6M | 671.6M | 678.6M | 640.77M | 428.6M | 273.88M | 305.25M | 305.25M |
| Basic Shares Outstanding | 640.7M | 673.3M | 693.6M | 671.6M | 676.1M | 630.98M | 428.6M | 273.88M | 305.25M | 305.25M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Persistent organic revenue contraction
As reported in recent financial filings, Clarivate's revenue has exhibited a persistent downward trend, with the most recent quarter showing a 1.4% year-over-year decline to $585.5 million, reflecting ongoing challenges in achieving organic growth across its core academic and intellectual property information service segments.
The consistent negative revenue growth suggests that the company is struggling to offset the churn of legacy contracts with new business wins. Investors should monitor whether this contraction is a structural issue related to market saturation or a temporary byproduct of post-merger portfolio rationalization.
Based on the provided income statement data, Clarivate maintains a relatively stable gross margin profile, averaging approximately 66% over the last ten quarters, which underscores the inherent scalability of its proprietary digital citation and patent database assets despite broader top-line revenue pressures.
This high gross margin indicates that the company possesses significant pricing power and low marginal costs for data delivery. However, the inability to translate this gross profitability into consistent operating income suggests that the cost of maintaining these data architectures remains a significant burden.
According to the latest quarterly results, Clarivate's operating margin of 2.91% highlights a significant disconnect between its gross profit generation and bottom-line performance, suggesting that high SG&A expenses and integration costs continue to dilute the operational efficiency of the consolidated business model.
The company appears to be struggling to achieve the operating leverage typically expected from information services firms. This lack of scalability may indicate that the integration of large-scale acquisitions is more resource-intensive than management initially anticipated, warranting further investigation into long-term cost-cutting initiatives.
As evidenced by the reported financial statements, Clarivate has struggled to achieve consistent profitability, with net margins frequently dipping into negative territory, including a -6.9% net margin in 2026Q1, largely driven by non-operating expenses and the ongoing impact of purchase accounting adjustments.
The recurring net losses suggest that the company's capital structure and acquisition-related amortization are significantly weighing on shareholder value. Analysts should be cautious of the discrepancy between adjusted metrics and GAAP net income, as the latter reflects the true cost of the company's aggressive M&A strategy.
Based on the provided data, skeptics may point to the company's inability to generate positive net income despite high gross margins as evidence that the conglomerate strategy is failing to produce the intended cross-selling synergies between its academic and corporate data assets.
The market may be overestimating the value of the combined platform if the company cannot demonstrate a clear path to organic growth. Investors should monitor whether the current revenue contraction is a sign of long-term competitive erosion in the face of evolving open-access mandates.
Quick answers to the most common questions about buying CLVT stock.
For fiscal year 2025, Clarivate Plc (CLVT) reported total revenue of $2.46B. This represents a 167.6% increase compared to $917.6M in 2017.
Clarivate Plc (CLVT) reported a net loss of $201.1M for the fiscal year ending 2025.
Clarivate Plc (CLVT) reported an operating income of $71.5M, resulting in an operating profit margin of 2.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Clarivate Plc (CLVT) generated $1.62B in gross profit for the year, representing a gross profit margin of 66.0%. This demonstrates the company's core pricing power and production efficiency.