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Clarivate Reports Fourth Quarter and Full Year 2024 Results

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— Accelerates transition from transactional to subscription and re-occurring revenue —

— Launches new product innovation for Academia & Government and Life Sciences & Healthcare —

— Repurchased $200 million ordinary shares and pre-paid $198 million of debt in 2024 as part of balanced capital allocation strategy —

— Initiates review of strategic alternatives including potential divestitures —

— Provides 2025 Outlook —

LONDON, Feb. 19, 2025 /PRNewswire/ — Clarivate Plc (NYSE: CLVT) (the “Company” or “Clarivate”), a leading global provider of transformative intelligence, today reported results for the fourth quarter and full year ended December 31, 2024.

Total revenue for the fourth quarter of 2024 was $663.0 million, compared to total revenue of $683.7 million in the fourth quarter of 2023. Organic revenues for the fourth quarter of 2024 decreased 0.7%, as an increase in subscription and transactional revenues was offset by lower re-occurring revenues, compared to the fourth quarter of 2023.

Net loss for the fourth quarter of 2024 was $191.8 million, or $0.27 per diluted share, an improvement compared to a net loss of $843.9 million, or $1.30 per diluted share, in the fourth quarter of 2023. Adjusted net income for the fourth quarter of 2024 was $145.5 million, or $0.21 per diluted share, compared to $163.4 million, or $0.23 per diluted share, for the fourth quarter of 2023. Adjusted EBITDA was $285.3 million for the fourth quarter of 2024, compared to Adjusted EBITDA of $298.2 million for the fourth quarter of 2023.

Total revenue for the full year of 2024 was $2.56 billion, compared to total revenue of $2.63 billion for the full year of 2023. Organic revenues decreased 1.4%, as an increase in subscription revenues was offset by lower transactional and re-occurring revenues.

Net loss for the full year of 2024 was $636.7 million, or $0.96 per diluted share, an improvement compared to a net loss of $911.2 million, or $1.47 per diluted share, for the full year of 2023. Adjusted net income for the full year of 2024 was $525.3 million, or $0.73 per diluted share, compared to $599.1 million, or $0.82 per diluted share, for the full year of 2023. Adjusted EBITDA was $1,060.4 million for the full year of 2024, compared to Adjusted EBITDA of $1,117.2 million for the full year of 2023.

Clarivate generated $357.5 million of free cash flow for the full year of 2024 and repurchased $200.0 million of ordinary shares and pre-paid $198.1 million of term-loan debt. In December 2024, the Board of Directors authorized a new share repurchase program of up to $500.0 million of the Company’s outstanding ordinary shares through open-market purchases for a period of two years, from January 1, 2025 through December 31, 2026.

“We are committed to reinvigorating our business to deliver healthy organic growth and build for the future,” said Matti Shem Tov, Chief Executive Officer. “Last year we released a string of AI-powered product enhancements, and as part of our Value Creation Plan (VCP), we recently launched new subscription-based solutions including ProQuest e-Books, ProQuest Digital Collections and DRG Fusion. We are focused on driving subscription and re-occurring revenue growth and plan to discontinue sales of certain low-margin transactional products in 2025 and 2026, which will improve our revenue predictability.”

Mr. Shem Tov continued: “Under our VCP initiatives, we are improving our sales execution by enhancing key leadership roles, realigning account management models around specialist areas, and investing in customer success teams. We are harnessing the power of technology and AI to accelerate product innovation and drive development velocity through customer collaboration. We believe the steps we are taking will improve our financial performance and operational efficiency.”

Selected Financial Information

Three Months Ended
December 31,

Change

Year Ended

December 31,

Change

(in millions, except percentages and per
share data), (unaudited)

2024

2023

$

%

2024

2023

$

%

Revenues

$      663.0

$      683.7

$    (20.7)

(3.0) %

$   2,556.7

$   2,628.8

$   (72.1)

(2.7) %

Net income (loss)

$     (191.8)

$     (843.9)

$   652.1

77.3 %

$     (636.7)

$     (911.2)

$  274.5

30.1 %

Adjusted net income(1)

$      145.5

$      163.4

$    (17.9)

(11.0) %

$      525.3

$      599.1

$   (73.8)

(12.3) %

Adjusted EBITDA(1)

$      285.3

$      298.2

$    (12.9)

(4.3) %

$   1,060.4

$   1,117.2

$   (56.8)

(5.1) %

Diluted EPS

$       (0.27)

$       (1.30)

$     1.03

79.2 %

$       (0.96)

$       (1.47)

$    0.51

34.7 %

Adjusted diluted EPS(1)

$        0.21

$        0.23

$    (0.02)

(8.7) %

$        0.73

$        0.82

$   (0.09)

(11.0) %

Net cash provided by operating
activities

$      141.3

$      190.9

$    (49.6)

(26.0) %

$      646.6

$      744.2

$   (97.6)

(13.1) %

Free cash flow(1)

$        59.1

$      127.0

$    (67.9)

(53.5) %

$      357.5

$      501.7

$ (144.2)

(28.7) %

Fourth Quarter 2024 Commentary

Revenues for the fourth quarter decreased $20.7 million, or 3.0%, to $663.0 million, primarily due to IP and A&G product group divestitures completed in 2024. Organic revenues decreased $5.0 million or 0.7%.

Subscription revenues for the fourth quarter decreased $3.8 million, or 0.9%, to $407.0 million. Organic subscription revenues increased 0.1%.

Re-occurring revenues for the fourth quarter decreased $7.1 million, or 6.0%, to $112.0 million. Organic re-occurring revenues decreased 5.4%, primarily due to lower IP patent renewal volume.

Transactional revenues for the fourth quarter decreased $9.8 million, or 6.4%, to $144.0 million. Organic transactional revenues increased 0.6%, primarily due to higher A&G sales.

Full Year 2024 Commentary

Revenues for the full year 2024 decreased $72.1 million, or 2.7%, to $2,556.7 million, primarily due to lower transactional sales across all three segments and the IP product group divestiture. Organic revenues decreased $35.9 million, or 1.4%.

Subscription revenues for the full year 2024 increased $8.7 million, or 0.5%, to $1,626.8 million. Organic subscription revenues increased 0.9%, driven by price increases, partially offset by lower net volume in IP and LS&H.

Re-occurring revenues for the full year 2024 decreased $14.8 million, or 3.3%, to $429.8 million. Organic re-occurring revenues decreased 3.1%, primarily due to lower IP patent renewal volume.

Transactional revenues for the full year 2024 decreased $66.0 million, or 11.7%, to $500.1 million. Organic transactional revenues decreased 6.6%, primarily due to lower A&G and LS&H sales.

Balance Sheet and Cash Flow

As of December 31, 2024, cash and cash equivalents of $295.2 million decreased $75.5 million compared to December 31, 2023.

The Company’s total debt outstanding as of December 31, 2024 was $4,571.1 million, a decrease of $199.2 million compared to December 31, 2023, driven by accelerated debt repayments.

Net cash provided by operating activities of $646.6 million for the year ended December 31, 2024 decreased $97.6 million compared to the prior year period, primarily due to lower operating results and higher working capital requirements due to timing of payments. Free cash flow for the year ended December 31, 2024 was $357.5 million, a decrease of $144.2 million compared to the prior year period.

Review of Strategic Alternatives
Clarivate also announced that it has initiated the exploration of strategic alternatives including potential divestitures. The Company, in consultation with financial and legal advisors, will review and consider a full range of options focused on maximizing shareholder value, including divesting business units or an entire segment.

The Company intends to be diligent and thorough in reviewing its options and completing its review in a timely manner, but does not intend to comment until the process is concluded or it is otherwise determined that further disclosure is necessary or appropriate. There can be no assurance that the review process will result in any transaction or any other strategic change or outcome, or as to the timing of any of the foregoing.

Morgan Stanley & Co. LLC and Moelis & Company LLC are serving as financial advisors to the Company.

Outlook for 2025 (forward-looking statement)
“Our 2025 outlook includes the disposal of specific Academia & Government and Life Sciences & Healthcare transactional products, which are expected to be completed by the end of 2026,” said Jonathan Collins, Executive Vice President and Chief Financial Officer. “We currently expect recurring organic revenues (subscription and re-occurring revenues combined) to be flat, at the mid-point in 2025. We will continue to aggressively manage our cost structure and currently expect a balanced approach to capital allocation in 2025.”

The full year outlook presented below assumes no further acquisitions, divestitures, or unanticipated events.

2025 Outlook

Organic ACV

1.0% to 2.0%

Recurring Organic Revenue Growth

(1.0)% to 1.0%

Revenues

$2.28B to $2.40B

Adjusted EBITDA(1)

$940M to $1.00B

Adjusted EBITDA Margin(1)

40.5% to 42.5%

Adjusted Diluted EPS(1)(2)

$0.60 to $0.70

Free Cash Flow(1)

$300M to $380M

Notes to press release

(1) Non-GAAP measure. Please see “Reconciliations to Certain Non-GAAP Measures” in this release for important disclosures and reconciliations of these financial measures to the most directly comparable GAAP measure. These terms are defined elsewhere in this press release.

(2) Adjusted diluted EPS for 2025 is calculated based on approximately 696 million fully diluted adjusted weighted average ordinary shares outstanding.

Conference Call and Webcast

Clarivate will host a conference call and webcast today to review the results for the fourth quarter and full year at 9:00 a.m. Eastern Time. The webcast is open to all interested parties and may include forward-looking information.

The live webcast of the earnings call will be accessible through the investor relations section of the Company’s website. To join the webcast please visit https://events.q4inc.com/attendee/673591630.

Interested parties may access the live audio broadcast. U.S. participants may call 800-715-9871; international participants may call +1 646-307-1963 (long-distance charges will apply). The conference ID number is 8621261.

A replay of the webcast will also be available on https://ir.clarivate.com beginning two hours after the conclusion of the live call and will remain available for one year.

Use of Non-GAAP Financial Measures

Non-GAAP results are financial measures that are not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and are presented only as a supplement to our financial statements based on GAAP. Non-GAAP financial information is provided to enhance the reader’s understanding of our financial performance, but none of these non-GAAP financial measures are recognized terms under GAAP. They are not measures of financial condition or liquidity, and should not be considered as an alternative to profit or loss for the period determined in accordance with GAAP or operating cash flows determined in accordance with GAAP. As a result, you should not consider such measures in isolation from, or as a substitute for, financial measures or results of operations calculated or determined in accordance with GAAP.

We use non-GAAP measures in our operational and financial decision-making. We believe that such measures allow us to focus on what we deem to be a more reliable indicator of ongoing operating performance and our ability to generate cash flow from operations, and we also believe that investors may find these non-GAAP financial measures useful for the same reasons. Non-GAAP measures are frequently used by securities analysts, investors, and other interested parties in their evaluation of companies comparable to us, many of which present non-GAAP measures when reporting their results. These measures can be useful in evaluating our performance against our peer companies because we believe the measures provide users with valuable insight into key components of GAAP financial disclosures. However, non-GAAP measures have limitations as analytical tools and because not all companies use identical calculations, our presentation of non-GAAP financial measures may not be comparable to other similarly titled measures of other companies.

Definitions and reconciliations of non-GAAP measures, such as Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted diluted EPS, and Free cash flow to the most directly comparable GAAP measures are provided within the schedules attached to this release. Our presentation of non-GAAP measures should not be construed as an inference that our future results will be unaffected by any of the adjusted items, or that any projections and estimates will be realized in their entirety or at all.

Forward-Looking Statements

This communication includes statements that express our opinions, expectations, beliefs, plans, objectives, assumptions, or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements” within the meaning of the “safe harbor provisions” of the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “seeks,” “projects,” “intends,” “plans,” “may,” “will,” or “should” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts, and include statements regarding our intentions, beliefs, or current expectations concerning, among other things, anticipated cost savings, results of operations, financial condition, liquidity, prospects, growth, strategies, and the markets in which we operate. Such forward-looking statements are based on available current market material and management’s expectations, beliefs, and forecasts concerning future events impacting us. There can be no assurance that future developments affecting us will be those that we have anticipated. These forward-looking statements involve a number of risks and uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the caption “Risk Factors” in our annual report on Form 10-K, along with our other filings with the U.S. Securities and Exchange Commission (“SEC”). Should one or more of these risks or uncertainties materialize, or should any of the assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Please consult our public filings with the SEC or on our website at www.clarivate.com.

About Clarivate

Clarivate™ is a leading global provider of transformative intelligence. We offer enriched data, insights & analytics, workflow solutions and expert services in the areas of Academia & Government, Intellectual Property and Life Sciences & Healthcare. For more information, please visit www.clarivate.com.

Consolidated Balance Sheets (Unaudited)

As of December 31,

(In millions)

2024

2023

ASSETS

Current assets:

Cash and cash equivalents, including restricted cash

$                295.2

$                370.7

Accounts receivable, net

798.3

908.3

Prepaid expenses

85.9

88.5

Other current assets

65.2

68.0

Assets held for sale

26.7

Total current assets

1,244.6

1,462.2

Property and equipment, net

53.5

51.6

Other intangible assets, net

8,441.2

9,006.6

Goodwill

1,566.6

2,023.7

Other non-current assets

82.2

60.8

Deferred income taxes

48.5

46.7

Operating lease right-of-use assets

53.6

55.2

Total assets

$           11,490.2

$           12,706.8

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$                124.5

$                144.1

Accrued compensation

119.2

126.5

Accrued expenses and other current liabilities

310.1

315.2

Current portion of deferred revenues

859.1

983.1

Current portion of operating lease liability

20.6

24.4

Liabilities held for sale

6.7

Total current liabilities

1,433.5

1,600.0

Long-term debt

4,518.7

4,721.1

Non-current portion of deferred revenues

16.6

38.7

Other non-current liabilities

55.9

41.9

Deferred income taxes

273.3

249.6

Operating lease liabilities

53.2

63.2

Total liabilities

6,351.2

6,714.5

Commitments and contingencies

Shareholders’ equity:

Preferred Shares, no par value; 14.4 shares authorized; 5.25% Mandatory Convertible Preferred
Shares, Series A, zero and 14.4 shares issued and outstanding as of December 31, 2024 and
December 31, 2023, respectively

1,392.6

Ordinary Shares, no par value; unlimited shares authorized; 691.4 and 666.1 shares issued and
outstanding as of December 31, 2024 and December 31, 2023, respectively

12,978.8

11,740.5

Accumulated other comprehensive loss

(526.3)

(495.3)

Accumulated deficit

(7,313.5)

(6,645.5)

Total shareholders’ equity

5,139.0

5,992.3

Total liabilities and shareholders’ equity

$           11,490.2

$           12,706.8

 

Consolidated Statements of Operations (Unaudited)

Three Months Ended December 31,

Year Ended December 31,

(In millions, except per share data)

2024

2023

2024

2023

Revenues

$                      663.0

$                      683.7

$                 2,556.7

$                 2,628.8

Operating expenses:

Cost of revenues

227.7

231.6

869.2

906.4

Selling, general and administrative costs

180.8

180.4

727.6

739.7

Depreciation and amortization

186.0

180.8

727.0

708.3

Goodwill and intangible asset impairments

224.1

844.7

540.7

979.9

Restructuring and other impairments

5.4

14.7

19.6

40.0

Other operating expense (income), net

(98.7)

19.7

(51.8)

(10.8)

Total operating expenses

725.3

1,471.9

2,832.3

3,363.5

Income (loss) from operations

(62.3)

(788.2)

(275.6)

(734.7)

Fair value adjustment of warrants

(1.5)

(5.2)

(15.9)

Interest expense, net

69.9

75.2

283.4

293.7

Income (loss) before income taxes

(132.2)

(861.9)

(553.8)

(1,012.5)

Provision (benefit) for income taxes

59.6

(18.0)

82.9

(101.3)

Net income (loss)

(191.8)

(843.9)

(636.7)

(911.2)

Dividends on preferred shares

19.1

31.3

75.4

Net income (loss) attributable to ordinary shares

$                    (191.8)

$                    (863.0)

$                  (668.0)

$                  (986.6)

Per share:

Basic

$                      (0.27)

$                      (1.30)

$                    (0.96)

$                    (1.47)

Diluted

$                      (0.27)

$                      (1.30)

$                    (0.96)

$                    (1.47)

Weighted average shares used to compute earnings per
share:

Basic

702.8

665.0

693.6

671.6

Diluted

702.8

665.0

693.6

671.6

 

Consolidated Statements of Cash Flows (Unaudited)

Year Ended December 31,

(In millions)

2024

2023

Cash Flows From Operating Activities

  Net income (loss)

$                   (636.7)

$                   (911.2)

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

  Depreciation and amortization

727.0

708.3

  Share-based compensation

59.9

109.0

  Restructuring and other impairments, including goodwill

540.3

986.2

  Fair value adjustment of warrants

(5.2)

(15.9)

  Gain on sale from divestitures

(54.7)

  Gain on legal settlement

(49.4)

  Deferred income taxes

21.2

(78.4)

  Amortization of debt issuance costs

16.4

18.2

  Other operating activities

3.3

37.8

Changes in operating assets and liabilities:

  Accounts receivable

92.6

(25.5)

  Prepaid expenses

1.5

1.7

  Other assets

(0.8)

35.1

  Accounts payable

(15.0)

41.2

  Accrued expenses and other current liabilities

3.8

(44.4)

  Deferred revenues

(106.2)

20.3

  Operating leases, net

(9.6)

(8.0)

  Other liabilities

8.8

(80.8)

Net cash provided by operating activities

646.6

744.2

Cash Flows From Investing Activities

  Capital expenditures

(289.1)

(242.5)

  Payments for acquisitions, net of cash acquired

(32.0)

(5.4)

  Proceeds from divestitures, net of cash divested

84.4

10.5

Net cash provided by (used for) investing activities

(236.7)

(237.4)

Cash Flows From Financing Activities

  Principal payments on term loans

(198.1)

(300.0)

  Repayments of revolving credit facility

  Payment of debt issuance costs and discounts

(20.1)

0.1

  Repurchases of ordinary shares

(200.0)

(100.0)

  Cash dividends on preferred shares

(37.7)

(75.5)

  Payments related to tax withholding for share-based compensation

(15.6)

(20.6)

  Other financing activities

1.4

(0.5)

Net cash provided by (used for) financing activities

(470.1)

(496.5)

  Effects of exchange rates

(15.3)

3.6

Net change in cash and cash equivalents, including restricted cash

(75.5)

13.9

Cash and cash equivalents, including restricted cash, beginning of period

370.7

356.8

Cash and cash equivalents, including restricted cash, end of period

$                     295.2

$                     370.7

Supplemental Cash Flow Information:

Cash paid for interest

$                     265.3

$                     273.5

Cash paid for income tax

$                       52.9

$                       42.9

Supplemental Revenues Information

Annualized contract value (“ACV”), at any point in time, represents the annualized value of all active customer subscription-based license agreements for the next 12 months, assuming those coming up for renewal during the measurement period are renewed at their current price level. Our organic ACV grew 0.9% in 2024, compared to 2023, primarily driven by price increases. Our total ACV for 2024, compared to 2023, declined 1.1% primarily due to the ScholarOne divestiture in November 2024.

The following tables present our revenues by type and by segment for the periods indicated, as well as the drivers of the variances between periods, including as a percentage of such revenues.

Three Months Ended
December 31,

Change

% of Change

2024

2023

$

%

Acquisitions

Disposals

FX

Organic

Subscription

$        407.0

$       410.8

$          (3.8)

(0.9) %

0.2 %

(1.2) %

— %

0.1 %

Re-occurring

112.0

119.1

(7.1)

(6.0) %

— %

— %

(0.6) %

(5.4) %

Recurring revenues

$        519.0

$       529.9

$        (10.9)

(2.1) %

0.1 %

(0.9) %

(0.2) %

(1.1) %

Transactional

144.0

153.8

(9.8)

(6.4) %

0.3 %

(7.3) %

— %

0.6 %

Revenues

$        663.0

$       683.7

$        (20.7)

(3.0) %

0.2 %

(2.4) %

(0.1) %

(0.7) %

Year Ended

December 31,

Change

% of Change

2024

2023

$

%

Acquisitions

Disposals

FX

Organic

Subscription

$     1,626.8

$    1,618.1

$           8.7

0.5 %

0.1 %

(0.3) %

(0.2) %

0.9 %

Re-occurring

429.8

444.6

(14.8)

(3.3) %

— %

— %

(0.2) %

(3.1) %

Recurring revenues

$     2,056.6

$    2,062.7

$          (6.1)

(0.3) %

0.1 %

(0.2) %

(0.3) %

0.1 %

Transactional

500.1

566.1

(66.0)

(11.7) %

0.2 %

(5.3) %

— %

(6.6) %

Revenues

$     2,556.7

$    2,628.8

$        (72.1)

(2.7) %

0.1 %

(1.3) %

(0.1) %

(1.4) %

Three Months Ended
December 31,

Change

% of Change

2024

2023

$

%

Acquisitions

Disposals

FX

Organic

Academia & Government

$        342.9

$       339.4

$           3.5

1.0 %

— %

(1.4) %

0.1 %

2.3 %

Intellectual Property

209.1

225.6

(16.5)

(7.3) %

0.2 %

(4.5) %

(0.3) %

(2.7) %

Life Sciences & Healthcare

111.0

118.7

(7.7)

(6.5) %

0.7 %

(1.2) %

(0.2) %

(5.8) %

Revenues

$        663.0

$       683.7

$        (20.7)

(3.0) %

0.2 %

(2.4) %

(0.1) %

(0.7) %

Year Ended

December 31,

Change

% of Change

2024

2023

$

%

Acquisitions

Disposals

FX

Organic

Academia & Government

$     1,326.4

$    1,323.3

$           3.1

0.2 %

— %

(0.4) %

(0.1) %

0.7 %

Intellectual Property

811.4

862.7

(51.3)

(5.9) %

0.1 %

(3.1) %

(0.2) %

(2.7) %

Life Sciences & Healthcare

418.9

442.8

(23.9)

(5.4) %

0.6 %

(0.8) %

(0.4) %

(4.8) %

Revenues

$     2,556.7

$    2,628.8

$        (72.1)

(2.7) %

0.1 %

(1.3) %

(0.1) %

(1.4) %

Reconciliations to Certain Non-GAAP Measures

Adjusted EBITDA and Adjusted EBITDA Margin

Adjusted EBITDA represents Net income (loss) before the Provision (benefit) for income taxes, Depreciation and amortization, and Interest expense, net, adjusted to exclude share-based compensation, impairments, restructuring expenses, the impact of certain non-cash fair value adjustments on financial instruments, acquisition and/or disposal-related transaction costs, unrealized foreign currency gains/losses, legal settlements, and other items that are included in Net income (loss) for the period that we do not consider indicative of our ongoing operating performance. Net income (loss) margin is calculated by dividing Net income (loss) by Revenues. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by Revenues.

The following table presents our calculation of Adjusted EBITDA and Adjusted EBITDA margin for the fourth quarter and full year of 2024 and 2023, respectively, and reconciles these non-GAAP measures to our Net income (loss) and Net income (loss) margin for the same periods:

Three Months Ended
December 31,

Year Ended

December 31,

(In millions, except percentages); (unaudited)

2024

2023

2024

2023

Net income (loss)

$      (191.8)

$      (843.9)

$      (636.7)

$      (911.2)

Provision (benefit) for income taxes

59.6

(18.0)

82.9

(101.3)

Depreciation and amortization

186.0

180.8

727.0

708.3

Interest expense, net

69.9

75.2

283.4

293.7

Share-based compensation expense

10.9

11.8

60.6

108.9

Goodwill and intangible asset impairments

224.1

844.7

540.7

979.9

Restructuring and other impairments

5.4

14.7

19.6

40.0

Fair value adjustment of warrants

(1.5)

(5.2)

(15.9)

Transaction related costs

4.3

3.1

17.9

8.2

Other(1)

(83.1)

31.3

(29.8)

6.6

Adjusted EBITDA

$       285.3

$       298.2

$    1,060.4

$    1,117.2

Net income (loss) margin

(28.9) %

(123.4) %

(24.9) %

(34.7) %

Adjusted EBITDA margin

43.0 %

43.6 %

41.5 %

42.5 %

(1) Includes the net impact of unrealized foreign currency gains and losses and other items that do not reflect our ongoing operating performance. The fourth quarter and full year 2024 amount includes a gain of $69.5 and a net gain of $54.7, respectively, from the divestitures completed in 2024. The full year 2023 amount includes a gain of $49.4 related to a legal settlement.

Adjusted net income and Adjusted diluted EPS

Adjusted net income represents Net income (loss), adjusted to exclude amortization related to acquired intangible assets, share-based compensation, impairments, restructuring expenses, the impact of certain non-cash fair value adjustments on financial instruments, acquisition and/or disposal-related transaction costs, unrealized foreign currency gains/losses, legal settlements, and other items that are included in net income (loss) for the period that we do not consider indicative of our ongoing operating performance and the associated income tax impact of such adjustments.

Adjusted diluted EPS is calculated by dividing Adjusted net income by Adjusted diluted weighted average shares. The Adjusted diluted weighted average shares calculation assumes that all instruments in the calculation are dilutive.

The following tables present our calculation of Adjusted net income and Adjusted diluted EPS for the fourth quarter and full year of 2024 and 2023, respectively, and reconciles these non-GAAP measures to our Net income (loss) and Diluted EPS for the same periods:

Three Months Ended December 31,

2024

2023

(In millions, except per share amounts); (unaudited)

Amount

Per Share

Amount

Per Share

Net income (loss) and Diluted EPS

$             (191.8)

$               (0.27)

$             (843.9)

$               (1.27)

Amortization related to acquired intangible assets

137.2

0.20

134.5

0.20

Share-based compensation expense

10.9

0.02

11.8

0.02

Goodwill and intangible asset impairments

224.1

0.32

844.7

1.27

Restructuring and other impairments

5.4

0.01

14.7

0.02

Fair value adjustment of warrants

(1.5)

Transaction related costs

4.3

0.01

3.1

Other(1)

(83.1)

(0.13)

31.3

0.04

Income tax impact of related adjustments

38.5

0.05

(31.3)

(0.05)

Adjusted net income and Adjusted diluted EPS

$              145.5

$                0.21

$              163.4

$                0.23

Adjusted weighted average ordinary shares, diluted

707.7

724.4

(1) Includes the net impact of unrealized foreign currency gains and losses and other items that do not reflect our ongoing operating performance. The fourth quarter 2024 amount includes a gain of $69.5 from the ScholarOne divestiture.

 

Year Ended December 31,

2024

2023

(In millions, except per share amounts); (unaudited)

Amount

Per Share

Amount

Per Share

Net income (loss) and Diluted EPS

$             (636.7)

$               (0.92)

$             (911.2)

$               (1.36)

Amortization related to acquired intangible assets

554.1

0.80

564.3

0.84

Share-based compensation expense

60.6

0.09

108.9

0.16

Goodwill and intangible asset impairments

540.7

0.78

979.9

1.46

Restructuring and other impairments

19.6

0.03

40.0

0.06

Fair value adjustment of warrants

(5.2)

(0.01)

(15.9)

(0.02)

Transaction related costs

17.9

0.03

8.2

0.01

Other(1)

(29.8)

(0.08)

6.6

(0.06)

Income tax impact of related adjustments

4.1

0.01

(181.7)

(0.27)

Adjusted net income and Adjusted diluted EPS

$              525.3

$                0.73

$              599.1

$                0.82

Adjusted weighted average ordinary shares, diluted

721.5

731.3

(1) Includes the net impact of unrealized foreign currency gains and losses and other items that do not reflect our ongoing operating performance. The 2024 amount includes a net gain of $54.7 from divestitures and the 2023 amount includes a gain of $49.4 related to a legal settlement.

Free cash flow

Free cash flow represents Net cash provided by operating activities less Capital expenditures. The following table reconciles this non-GAAP measure to Net cash provided by operating activities for the same periods:

Three Months Ended December 31,

Year Ended December 31,

(In millions); (unaudited)

2024

2023

2024

2023

Net cash provided by operating activities

$                    141.3

$                    190.9

$                    646.6

$                    744.2

  Capital expenditures

(82.2)

(63.9)

(289.1)

(242.5)

Free cash flow

$                      59.1

$                    127.0

$                    357.5

$                    501.7

Reconciliations to Certain Non-GAAP Measures – 2025 Outlook

Adjusted EBITDA and Adjusted EBITDA Margin

The following table presents our calculation of Adjusted EBITDA and Adjusted EBITDA margin for the 2025 outlook and reconciles these non-GAAP measures to our Net income (loss) and Net income (loss) margin for the same period:

Year Ending December 31, 2025

(Forecasted)

(In millions, except percentages); (unaudited)

Low

High

Net income (loss)

$                  (203)

$                  (127)

Provision (benefit) for income taxes

55

59

Depreciation and amortization

697

687

Interest expense, net

262

252

Share-based compensation expense

84

84

Restructuring and other impairments(1)

30

30

Transaction related costs

10

10

Other

5

5

Adjusted EBITDA

$                   940

$                1,000

Net income (loss) margin

(8.9) %

(5.3) %

Adjusted EBITDA margin

40.5 %

42.5 %

(1) Reflects restructuring costs expected to be incurred in 2025 associated with the Value Creation Plan.

Adjusted diluted EPS

The following table presents our calculation of Adjusted diluted EPS for the 2025 outlook and reconciles this non-GAAP measure to our per share Net income (loss) for the same period:

Year Ending December 31, 2025

(Forecasted)

(Unaudited)

Low

High

Net income (loss)

(0.28)

(0.18)

Amortization related to acquired intangible assets

0.75

0.75

Share-based compensation expense

0.12

0.12

Restructuring and other impairments(1)

0.04

0.04

Transaction related costs

0.01

0.01

Other

0.01

0.01

Income tax impact of related adjustments

(0.05)

(0.05)

Adjusted diluted EPS

$                      0.60

$                      0.70

Adjusted weighted-average ordinary shares (diluted)(2)

696 million

(1) Reflects restructuring costs expected to be incurred in 2025 associated with the Value Creation Plan.

(2) For the purposes of calculating adjusted diluted EPS, we have assumed the “if-converted” method of share dilution on a full year basis.

Free cash flow

The following table presents our calculation of Free cash flow for the 2025 outlook and reconciles this non-GAAP measure to our Net cash provided by operating activities for the same period:

Year Ending December 31, 2025

(Forecasted)

(In millions); (unaudited)

Low

High

Net cash provided by operating activities

$                       555

$                       635

Capital expenditures

(255)

(255)

Free cash flow

$                       300

$                       380

 

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SOURCE Clarivate Plc

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BTQ Technologies’ QSSN Selected as Core Security Infrastructure for South Korea’s First Bank-Led KRW Stablecoin Proof-of-Concept

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BTQ provides strategic advisory support and QSSN as core PQC security infrastructure for the iM Bank initiative on the Kaia mainnet, advancing post-quantum migration across global financial infrastructure

BTQ has been selected as the core post-quantum cryptography security technology provider for South Korea’s first bank-led KRW stablecoin proof-of-concept, delivering its Quantum Secure Stablecoin Settlement Network (“QSSN”) for the initiative.
 BTQ is providing strategic advisory support and helping coordinate implementation across the partnership with iM Bank and Finger, supporting the integration of post-quantum protections into regulated digital money infrastructure.
 Built on the Kaia mainnet, the proof-of-concept is connected to the blockchain ecosystems originally developed by Kakao and LINE, linking the initiative to two of the largest messaging and digital platform ecosystems in Korea and Japan.

VANCOUVER, BC, May 6, 2026 /PRNewswire/ – BTQ Technologies Corp. (“BTQ” or the “Company”) (Nasdaq: BTQ) (CBOE CA: BTQ), a global quantum technology company focused on securing mission-critical networks, today announced that it it has been selected as the core PQC security technology provider through its Quantum Secure Stablecoin Settlement Network (“QSSN”) in a proof-of-concept with its Korean strategic partner, Finger Inc. (“Finger”), and iM Bank, a leading Korean commercial bank, for South Korea’s first bank-led Korean won stablecoin infrastructure incorporating post-quantum cryptography (“PQC”).

The proof-of-concept represents more than a technical pilot. It marks an important step in bringing next-generation quantum security into banking infrastructure within Korea’s regulated financial system. In addition to providing QSSN as the core PQC security framework, BTQ is contributing consulting and strategic coordination across the three-way partnership, helping align the project’s security architecture, implementation approach, and long-term post-quantum migration objectives.

“Post-quantum migration requires more than a cryptographic upgrade. It requires coordination across infrastructure, implementation, and institutional stakeholders,” said Olivier Roussy Newton, Chief Executive Officer of BTQ Technologies. “In this initiative, BTQ is providing both strategic advisory support and QSSN as the post-quantum security architecture, while helping lead coordination across the three-way partnership. We believe this proof-of-concept demonstrates how financial institutions can begin integrating quantum-resilient protections into digital money systems in a practical and operationally viable way.”

South Korea’s First Bank-Led PQC Stablecoin Infrastructure Initiative

BTQ is working alongside iM Bank and Finger on a three-way initiative to validate the issuance and distribution infrastructure for a Korean won stablecoin. In addition to supplying QSSN as the PQC security layer, BTQ is providing consulting support and helping to guide coordination across the partnership as the parties evaluate how to integrate post-quantum protections into bank-led digital asset infrastructure.

The proof-of-concept will validate several key components, including real-time reconciliation between bank reserves and blockchain-issued supply, a global-standard smart contract architecture, connectivity to global infrastructure for overseas distribution, and the integration of a PQC-based dual-signature security structure. By applying BTQ’s PQC signature architecture alongside the existing ECDSA cryptographic framework, the system is designed to preserve operational continuity for financial institutions while proactively addressing future quantum computing threats.

Built on Kaia Mainnet

A notable feature of the proof-of-concept is that it will be implemented on the Kaia mainnet, one of Korea’s leading Layer 1 blockchain networks. Kaia was created through the merger of Klaytn, the blockchain originally developed by Kakao, and Finschia, the blockchain associated with LINE. Kakao and LINE sit at the center of two of the largest messaging and digital platform ecosystems in Korea and Japan, respectively, making Kaia a significant piece of regional digital infrastructure.

Klaytn previously participated in the Bank of Korea’s CBDC pilot ecosystem, and the Bank of Korea has continued to advance CBDC testing through initiatives such as Project Hangang.

By combining BTQ’s PQC technology with blockchain infrastructure tied to the Kakao and LINE ecosystems, the proof-of-concept is intended to establish a model that aligns institutional-grade security, blockchain scalability, and evolving regulatory requirements for digital money infrastructure.

QSSN as the Security Layer

The PQC security foundation for the initiative is BTQ’s Quantum Secure Stablecoin Settlement Network, or QSSN, a quantum-secure network architecture designed for stablecoin, tokenized deposit, payment, and digital asset infrastructure. QSSN is designed to protect critical issuer functions, including stablecoin issuance, burning, transfer authority, upgrade control, and administrative permissions, by integrating PQC-based signatures while maintaining existing user experience and operational workflows.

BTQ has previously announced that QSSN was highlighted in the U.S. Post-Quantum Financial Infrastructure Framework (“PQFIF”) as a model architecture for post-quantum digital money infrastructure. The Company has also positioned QSSN as a standards-oriented initiative advanced through QuINSA and aligned with emerging post-quantum financial infrastructure requirements.

Addressing the Harvest-Now, Decrypt-Later Risk

The timing of the proof-of-concept reflects the growing urgency surrounding the “Harvest-Now, Decrypt-Later” risk, in which attackers may collect encrypted financial data today and decrypt it later once sufficiently advanced quantum capabilities emerge. Global institutions are already accelerating post-quantum migration. The U.S. National Institute of Standards and Technology (“NIST”) has finalized its first set of post-quantum cryptography standards, including ML-DSA, ML-KEM, and SLH-DSA, while major technology companies and financial institutions continue to define their own post-quantum transition timelines.

BTQ’s QSSN addresses this challenge through a dual-signature design that allows existing ECDSA-based infrastructure to operate in parallel with NIST-aligned PQC signatures such as ML-DSA. This approach enables banks and payment infrastructure providers to begin a phased transition toward quantum-safe security without disrupting existing systems.

Expanding BTQ’s Korean Ecosystem

BTQ continues to expand its Korean ecosystem across digital assets, payments, banking infrastructure, and hardware-based security. In October 2025, BTQ announced that Finger had joined Danal as an early participant in BTQ’s QSSN pilot program, with the initiative expected to progress from proof-of-concept toward commercialization under QuINSA-aligned guidelines and broader industry frameworks such as PQFIF.

The commencement of the iM Bank proof-of-concept represents an important commercial signal for BTQ, indicating that demand for post-quantum migration among Korean financial institutions is beginning to move from policy discussion toward infrastructure-level implementation. As Korea advances both quantum technology policy and stablecoin-related regulatory discussions, BTQ believes QSSN is well positioned at the intersection of regulated finance, digital asset infrastructure, and post-quantum security.

About iM Bank
iM Bank is a South Korean commercial bank and a subsidiary of DGB Financial Group. Headquartered in Daegu, iM Bank presents itself as a financial companion for customers and traces its roots to Daegu Bank, which was established in 1967 as Korea’s first regional bank. For more information, please visit https://www.imbank.co.kr/

About Finger Inc. Group
Finger supplies and develops financial IT solutions to provide optimized money management strategies for employees and corporate customers. Providing “Smartphone Financial Services”, “Corporate Cash Management Services” for businesses, “Private Wealth Management Services” for private consumers.

Since the year 2000, Finger has accumulated a number of awards and patents regarding its businesses. Based on its Mobile Enterprise Application Platform(MEAP) Orchestra and its funds management system using screen-scrapping technologies, Finger was the first company in Korea to deliver a smartphone banking banking-service. For more information, please visit http://www.finger.co.kr/

About BTQ
BTQ Technologies Corp. (Nasdaq: BTQ | Cboe CA: BTQ) is a quantum technology company focused on accelerating the transition from classical networks to the quantum internet. Backed by a broad patent portfolio and deep technical expertise, BTQ is advancing a full-stack, neutral-atom quantum computing platform spanning hardware, middleware, and post-quantum security solutions for finance, telecommunications, logistics, life sciences, and defense.

Connect with BTQ: Website | LinkedIn | X/Twitter

ON BEHALF OF THE BOARD OF DIRECTORS
Olivier Roussy Newton
CEO, Chairman
Neither Cboe Canada nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements herein contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the business plans of the Company, including with respect to its research partnerships, and anticipated markets in which the Company may be listing its common shares. Forward-looking statements or information often can be identified by the use of words such as “anticipate”, “intend”, “expect”, “plan” or “may” and the variations of these words are intended to identify forward-looking statements and information.

The Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the development of post-quantum algorithms and quantum vulnerabilities, and the quantum computing industry generally. The foregoing list of assumptions is not exhaustive.

Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information are based on assumptions and involve known and unknown risks which may cause actual results to be materially different from any future results, expressed or implied, by such forward-looking statements or information. These factors include risks relating to: the availability of financing for the Company; business and economic conditions in the post-quantum and encryption computing industries generally; the speculative nature of the Company’s research and development programs; the supply and demand for labour and technological post-quantum and encryption technology; unanticipated events related to regulatory and licensing matters and environmental matters; changes in general economic conditions or conditions in the financial markets; changes in laws (including regulations respecting blockchains); risks related to the direct and indirect impact of COVID-19 including, but not limited to, its impact on general economic conditions, the ability to obtain financing as required, and causing potential delays to research and development activities; and other risk factors as detailed from time to time. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE BTQ Technologies Corp.

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Zimmer Biomet to Present at the BofA Securities 2026 Health Care Conference

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WARSAW, Ind., May 6, 2026 /PRNewswire/ — Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global medical technology leader, today announced that members of the Zimmer Biomet management team will participate in the Bank of America Securities Health Care Conference on Wednesday, May 13, 2026, with a fireside chat at 8:40 a.m. PT (11:40 a.m. ET).

A live audio webcast can be accessed via Zimmer Biomet’s Investor Relations website at https://investor.zimmerbiomet.com. It will be available for replay following the fireside chat.

About Zimmer Biomet 
Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation. 

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.com or follow on LinkedIn at www.linkedin.com/company/zimmerbiomet or X at www.x.com/zimmerbiomet.

Contacts:

 

Media

Investors

Troy Kirkpatrick

David DeMartino

614-284-1926

646-531-6115

troy.kirkpatrick@zimmerbiomet.com

david.demartino@zimmerbiomet.com

Kirsten Fallon

Zach Weiner

781-779-5561

908-591-6955

kirsten.fallon@zimmerbiomet.com

zach.weiner@zimmerbiomet.com

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SOURCE Zimmer Biomet Holdings, Inc.

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NextLadder Ventures Announces Co-Founder Leadership Team, Investment Focus Areas For Over $1 Billion Initiative Empowering Americans with Personalized, Tech-Enabled Support Tools

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New senior hires from Google and The Collaborative Fund to lead product strategy and venture investing

Fund unveils first investment focus areas to catalyze new ‘Navigation Technology’ market, equipping Americans with cutting-edge tools to achieve economic security, opportunity and empowerment

ST. LOUIS, May 6, 2026 /PRNewswire/ — NextLadder Ventures, a new fund backed by more than $1 billion in capital, today announced its priority investment areas for building a new market for “Navigation Technology” (NavTech) — tools that provide Americans with personalized solutions to navigate life’s challenges and achieve greater economic mobility — and announced its co-founding team, including two new senior hires.

The fund’s active focus areas are based on extensive research identifying the key experiences and high-stakes decision points that have an outsized impact on American families’ economic mobility. Launched investment areas include financial health, career navigation, and benefits and social services access, with further exploration underway around housing, legal aid, justice and re-entry, and mental and physical health. 

The organization is also today welcoming two senior leaders: Lauren Loktev is joining NextLadder as Managing Director of Investments and Brigitte Hoyer Gosselink as Managing Director of Product. Loktev was most recently a partner at the Collaborative Fund, where she backed several breakout companies in early child development, education, and sustainability. Gosselink comes to NextLadder from Google, where she led the company’s AI and social impact portfolio. They join a growing team which has deep expertise at the intersection of economic mobility, technology, public policy, and philanthropy.

NextLadder’s Focus Areas for Investment

Today, the fund is kicking off a plan to deploy $1 billion over the next seven years to accelerate the design, development, and deployment of accessible NavTech tools that aim to help families more successfully navigate the major life experiences that determine whether they get ahead or fall behind. As NextLadder’s inaugural frontier AI lab partner, Anthropic is supporting the build-out of the organization’s AI-native capabilities and is offering technical assistance to NextLadder’s portfolio organizations. 

As an increasing proportion of Americans across income levels find themselves overextended and overwhelmed, NavTech tools are designed to help individuals and families understand their options, connect to information and resources, and take action to recover from a setback or take advantage of an opportunity and reclaim their economic futures.

“Life is getting harder, and too many Americans are stuck facing some of the most complex and consequential moments of their lives without much support,” said Ryan Rippel, CEO of NextLadder Ventures. “Every day, millions in this country face fork-in-the-road decisions that have major implications on whether they climb up the economic ladder or fall farther behind. AI has understandably intensified many Americans’ anxieties about their jobs and their security in the economy. But these technologies are now also making it possible to deliver highly personalized, affordable tools to meet the needs of tens of millions of Americans in a way that has never been practically achievable or financially viable before. With NavTech tools, built for the reality of families’ everyday experiences, we can empower Americans to overcome setbacks, navigate life’s toughest financial decisions, and build more secure futures.”

NavTech tools, built with the needs of individuals, families, and trusted community partners at the center of their design, have the potential to ease burdens most acutely faced by 90 million Americans who live in households that have difficulty in paying for usual home expenses, and turbocharge the capacity of the 1.6 million community workers in non-profit or local, state, and federal government roles who serve them. This growing category of digital technologies includes tools that help families access opportunities such as personalized financial advice and legal aid, get connected with available resources and programs, and manage unexpected hurdles like losing a job or facing an eviction – while freeing social workers and service providers to spend more time on people and less time on red tape and paperwork.

The fund’s active investment areas include:

Financial Health: Developing highly personalized, AI-powered financial health tools that can provide tailored, sustained counsel to help users build savings and protect and recover from financial shocks;
Career Navigation: Building tools to support career navigation, manage and support career transitions, and help workers, case managers, and employers identify pathways to living wage work — all designed to help people successfully find the right jobs for them.
Benefits & Social Services Access: Helping eligible Americans seamlessly identify and enroll in all the benefits and social services available to them, particularly those that support career navigation and transitions, help them navigate critical life moments, and achieve stability toward economic opportunity.

NextLadder is exploring additional focus areas, including housing, legal aid, justice and re-entry, caregiving, and mental and physical health. More on the organization’s vision of these focus areas is available HERE.

In addition to backing direct NavTech solutions, NextLadder is investing in the developers, partners, and standards required to build a durable, self-sustaining market. Across all focus areas, the fund is prioritizing efforts to ensure NavTech tools are reliable, protect users’ privacy, and are trusted by the families who depend on them.

NextLadder’s Co-Founder Leadership Team

NextLadder’s five co-founders will be CEO Ryan Rippel, Chief Strategy and Operations Officer Rhett Dornbach-Bender, Chief of Staff Callie Schwartz, and the two new senior hires: Managing Director of Investments Lauren Loktev and Managing Director of Product Brigitte Hoyer Gosselink, rounding out the fund’s expertise in investing, technology, and impact.

“We’re thrilled to welcome Lauren and Brigitte to the NextLadder team,” said Rippel. “Brigitte has spent her career proving that when applied purposefully, AI and technology can deliver meaningful benefits for communities, and she’ll set the bar for what NavTech tools can deliver for American families today and in the years to come. And with her deep experience backing mission-driven founders, Lauren is the perfect leader to build our venture practice from the ground up and accelerate the growth of the NavTech field. With this team in place, we’re positioned to make NavTech tools easier to build, fund, and access so they reach the people who need them most.”

Loktev brings 15 years of venture capital experience investing at the intersection of for-profit and for-good. Most recently at Collaborative Fund, she backed several companies to significant scale and launched Collab+Sesame, a first-of-its-kind thematic seed fund in partnership with Sesame Workshop focused on early childhood education. At NextLadder, she will build and lead the fund’s venture practice, sourcing and scaling investments in the founders building the next generation of NavTech tools.

“We have a once in a generation opportunity to help steer AI solutions toward those who need them most,” said Loktev. “Many amazing, accomplished founders see this too, and they are on a mission to build scalable, transformative businesses in the critical verticals that help people navigate life-changing moments. I couldn’t be more excited to join NextLadder and to support the most inspiring leaders building this market from the ground up. Thanks to our unique, long-term mandate, we can be creative and flexible in investing across stage and check size to partner with the entrepreneurs and leaders we believe will change the world.”

Prior to her role at NextLadder, Gosselink spent over a decade at Google in several roles including Director of AI and Social Impact, directing more than $500 million in funding for organizations applying AI to address challenges including crisis response, education, and economic opportunity. At NextLadder, she will lead AI and product strategy across the fund’s portfolio, backing solutions and setting market-wide standards for how NavTech tools are designed, evaluated, and improved over time.

“If we collectively harness the AI transformation strategically and purposefully, we can transform the way Americans are empowered to access greater economic mobility,” said Gosselink. “We believe that people-centered products, combined with shifts in the market and the services available to families, can fundamentally reshape how millions of Americans navigate critical moments and achieve prosperity on their own terms.”

To request interviews from the NextLadder Ventures leadership team, contact media@nextladder.com.

About NextLadder Ventures

NextLadder Ventures is a time-bound venture with one goal: empower millions of Americans to reach their potential by 2040. Backed by over $1 billion in capital, the organization invests in breakthrough technologies that remove barriers to economic success and put people in control of their futures. NextLadder Ventures is trailblazing a new market for tech-enabled Navigation Technology tools that help people access the resources they need to navigate pivotal moments — offering flexible, risk-tolerant capital to entrepreneurs building these transformative tools today, while creating a pipeline of tech, talent, and capital for the long run.

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SOURCE NextLadder Ventures

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