Clarivate releases 2021 annual report
In March of 2022, Clarivate released its financial statements for the fiscal year ending on December 31st, 2021. The company reported revenues of $1.9 billion, representing a 49.7% increase year-over-year. The company reported an estimated $560.7 million in fourth quarter revenue alone, representing a 23.1% increase over 2020's $455.6 million during the same period. Executive Vice President and CFO Jonathan Collins has stated, “[Clarivate’s] 2022 financial outlook reflects significant growth driven by the acquisition of ProQuest and an increase in organic revenue.”
New Activity|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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