Enfusion (ENFN) Q4 2024 earnings summary

Executive summary

• Reported Q4 2024 revenue of $52.9M, up 13.9% year-over-year; full-year revenue reached $201.6M, up 15.5% year-over-year.

• Net income for Q4 was $0.2M (0.3% margin); full-year net income was $3.9M (1.9% margin), down from 5.3% margin in 2023.

• Announced definitive agreement to be acquired by Clearwater Analytics, expected to close in Q2 2025.

Financial highlights

• Q4 gross profit was $36.5M (69.0% margin); adjusted gross profit was $36.9M (69.6% margin).

• Q4 adjusted EBITDA was $12.3M, up 25.3% year-over-year; adjusted EBITDA margin reached 23.2%.

• Full-year adjusted EBITDA margin improved to 21.2% from 18.1% in 2023.

• Operating cash flow for Q4 was $9.7M; adjusted free cash flow was $7.7M with a 62.7% conversion rate.

• Annual recurring revenue (ARR) at year-end was $210.4M, up 13.6% year-over-year.

Outlook and guidance

• No financial guidance for fiscal 2025 due to pending acquisition by Clearwater Analytics.