CLARIVATE PLC (CLVT) Business

Item 1. Business.

Clarivate Plc is a public limited company incorporated on January 7, 2019 under the laws of Jersey, Channel Islands. Our

principal business offices are located at 70 St. Mary Axe, London EC3A 8BE, United Kingdom, and our main telephone

number is +44 207 433 4000. We maintain a registered office at 4th Floor, St Paul’s Gate, 22-24 New Street, St. Helier,

Jersey JE14TR. We became a public company in May 2019, and our ordinary shares are traded on the New York Stock

Exchange under the symbol “CLVT.”

Overview

We are a leading global provider of transformative intelligence. We support the entire innovation lifecycle, from cultivating

curiosity to protecting the world’s critical intellectual property assets. Our aim is to fuel the world’s greatest breakthroughs

by harnessing the power of human ingenuity. From research and learning to commercialization, we offer intelligence

solutions, workflow solutions, and tech-enabled services to customers in the Academia & Government, Intellectual Property,

and Life Sciences & Healthcare end markets.

•Intelligence solutions. Continuously enriched, up-to-date knowledge assets, combining expert-curated data,

structured taxonomies, and analytical models that transform complex information into actionable insights powered

by a unique combination of AI-enabled software and human expertise.

•Workflow solutions. Automated, flexible software complemented by our enriched data sets and expert analysis

tailored to meet specific needs.

•Tech-enabled services. We are home to industry specialists, consultants, and data scientists with deep subject-

matter expertise and global experience.

Our highly curated, proprietary suite of branded information and insights solutions – developed through our sourcing,

aggregation, verification, translation, classification, and standardization processes – combined with AI and other advanced

technologies, positions us to deliver amplified intelligence in the age of AI. We have developed and continue to develop AI

research assistants and agents to enhance customer adoption and retention, unlock new revenue streams, and extend platform

reach. Our AI research assistants enable customers to find, synthesize, and validate trusted insights more efficiently through

query-specific, source-backed outputs, while our AI agents automate complex workflows, such as literature reviews, by

executing and validating multi-step tasks across our proprietary solutions.

We serve more than 45,000 customers worldwide, including academic institutions and libraries, research organizations,

corporations, law firms, government entities, and companies across the pharmaceutical, biotechnology, and medical device

industries, providing a trusted foundation and quality user experience resulting in our strong and consistent annual customer

renewal rates exceeding 90 percent.

We provide solutions to our customers primarily through subscription arrangements and re-occurring contracts, which

provide us with stable revenues and predictable cash flows. We also provide transactional offerings that are typically quoted

on a product, data set, or project basis.

•Subscription-based revenues. Recurring revenues that we typically earn under annual contracts, pursuant to which

we license the right to use our products to our customers or provide maintenance services over a contract term.

•Re-occurring revenues. Derived from our patent and trademark renewal services. Our services help customers

maintain and protect their patents and trademarks in multiple jurisdictions around the world. Because of the re-

occurring nature of the patent and trademark lifecycle, our customers engage us on a regular basis to ensure their

intellectual property rights remain protected.

•Transactional revenues. Earned for specific deliverables that are typically quoted on a product, data set, or project

basis. Transactional revenues include content sales (including single-document and aggregated collection sales),

consulting engagements, and other professional services such as software implementation services.

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The following charts present our revenues for the year ended December 31, 2025, by segment, type, and geography:

We are not dependent on any single customer or group of customers, and no significant portion of our business is subject to

renegotiation of profits or termination of contracts or subcontracts at the election of the government.

In all of our endeavors, we aim to provide a best-in-class experience for our customers and deliver exceptional outcomes for

our colleagues, communities, and shareholders. To drive focus, growth, and innovation, we plan to continue executing our

Value Creation Plan with the following key focus areas in 2026:

•Accelerate AI innovation at scale. Continue the deployment of generative and agentic AI, build on existing

momentum to release new AI-native solutions in existing and adjacent markets, and extend AI-powered capabilities

across our flagship product portfolio.

•Strengthen commercial execution. Accelerate organic annualized contract value (“ACV”) and recurring revenue

growth through focused sales execution, deepen customer engagement to drive sustainable account growth, and

enhance sales productivity through AI-powered insights and enablement.

•Drive efficiency and margin expansion. Utilize agentic AI to drive operational efficiency and margin expansion

and continue organization-wide AI adoption to drive operational excellence and cost efficiencies.

•Streamline business model and market focus. Complete product group wind-downs started in 2025 within the

A&G and LS&H segments, further transitioning from transactional sales to subscriptions. As part of our efforts, in

2024 we divested our ScholarOne and Valipat businesses.

Our Business Segments

We have organized our business into the following three segments: Academia & Government (“A&G”), Intellectual Property

(“IP”), and Life Sciences & Healthcare (“LS&H”), based on the different products and services we offer and the markets we

serve.

Academia & Government

Our A&G segment connects trusted content, responsible technology, and editorial expertise to fuel academic success and

advance national outcomes for thousands of institutions and millions of users around the world:

•99% of the top 400 universities use our solutions to accelerate research and education

•More than 26,000 academic libraries benefit from our content and solutions

•60+ years of service to government institutions

•75% of national and regional research assessments are powered by our data

Building on this foundation, Clarivate Academic AI provides a centralized, secure infrastructure that powers our suite of AI-

enabled research and learning assistants integrated across our portfolio of solutions. By combining large language model

(“LLM”) technology with our trusted collection of curated, scholarly content, the platform provides retrieval-augmented

generation, multilingual support, and emerging purpose-built agentic AI, enabling users to achieve more with greater

efficiency and precision while ensuring academic values remain central.

Within the A&G segment, we offer solutions in the following areas:

•Scientific and academic research. We connect trusted, expertly curated data, solutions, and expertise to support

research institutions across the full research lifecycle. Universities, funders, and organizations rely on our Web of

Science product family to uncover, evaluate, and make evidence-based decisions using our citation network that

underpins the research ecosystem. Building on this foundation, our Academic AI capabilities are designed to

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simplify complex research tasks without compromising academic integrity, enabling users to work more efficiently

while remaining grounded in trusted sources. Web of Science Research Intelligence, an AI-native solution,

accelerates insight generation and supports institutions in measuring and demonstrating impact, informing strategy,

and strengthening funding and investment decisions.

•Content solutions. Our ProQuest solutions provide access to multidisciplinary curated content across a variety of

formats including databases, dissertations, news, primary sources, books, and video. This wealth of trusted, curated

content, integrated into scholarly workflows, provides a strong foundation for Academic AI, supporting research

excellence and student success while maintaining academic standards.

•Library software. We help libraries advance their mission to support research and learning excellence and serve as

stewards of institutional knowledge. We provide library software and services that help users of academic,

government, public, and specialty libraries discover, evaluate, and use trusted information effectively in accordance

with academic standards. Academic AI capabilities are embedded across core operations to help libraries improve

productivity and support institutional goals. For academic libraries, Alma provides a proven, flexible, and unified

library services platform to manage resources and unique materials. Vega and Polaris provide similar benefits for

public libraries.

Intellectual Property

Our IP segment provides intellectual property data, software, and expertise to help companies drive innovation, law firms

achieve practice excellence, and organizations worldwide effectively manage and protect critical intellectual property assets.

We empower customers to meet their unique goals with industry-leading data and human expertise trusted by the world’s

most innovative companies:

•More than 40 patent offices use the Derwent World Patent Index for their prior art examination

•Nine out of 10 of the most valuable brands trust us with their trademark needs

•More than 1,600 corporations and law firms use our intellectual property management software

•We employ more than 2,000 IP service professionals, the largest pool of intellectual property experts in the industry

Within the IP segment, we offer solutions in the following areas:

•Patent services. We provide patent maintenance and administrative services that deliver expertise and flexibility at

scale to increase operational efficiency, decrease operational risks, and reduce the pressure on administrative

support.

•Patent intelligence. Our patent intelligence offerings assist customers in creating, protecting, and commercializing

innovation. With the addition of AI-powered search in Derwent Innovation, leveraging our Derwent World

Patents Index, users can apply advanced language models to identify related concepts in patent publications and

navigate new or unfamiliar technology categories with greater speed and precision – transforming patent research

from uncertain guesswork into strategic competitive intelligence.

•Brand IP solutions. Our innovative brand IP solutions cover the entire brand lifecycle, featuring CompuMark

trademark search and watch solutions, a suite of other managed services like IP Recordals, and RiskMark – an AI-

powered tool that sets a new standard for evaluating trademark risk and argument drafting support.

•IP management software. Our IP management software elevates operational performance and simplifies the

process of managing valuable patent and brand asset portfolios. Our IPfolio management platform allows companies

to efficiently and effectively secure, manage, and protect their intellectual property assets through advanced

workflow automation technology, superior data and analytics, and unparalleled industry expertise and support. Our

FoundationIP solution provides similar benefits to law firms seeking to provide renewal and validation of

intellectual property rights on behalf of their customers.

Life Sciences & Healthcare

Our LS&H segment empowers life sciences and healthcare organizations with the contextual intelligence needed to deliver

safe, effective, and commercially successful treatments and solutions to patients faster. Our customers can make smart,

patient-centric decisions and navigate roadblocks with the help of our AI-powered intelligence platforms that are fueled by

extensive and specialized therapeutic area data and contextualized insights. We work with more than 3,000 customers

worldwide across the life sciences and healthcare value chain, including many of the top pharmaceutical, medical device, and

biotech companies.

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Within the LS&H segment, we offer solutions in the following areas:

•Research and development. Our Cortellis suite of products equip our customers with the intelligence needed to

make decisions spanning the entire drug development lifecycle, including decisions related to assessing the market,

analyzing competitors, regulatory compliance, and drug safety. Within Cortellis, our AI-powered Regulatory

Intelligence platform is designed to help regulatory professionals navigate complex and evolving global

requirements with greater ease, speed, and confidence.

•Commercial. Our products and services provide our clients with access to comprehensive, diverse data and

advanced analytics, including insights on global disease landscape and patient journeys, to inform access strategies,

support successful product launches, and maximize market uptake.

•Medtech. We provide clients with insights to boost portfolio value and growth, accelerate path to market, maximize

commercial success, and improve patient outcomes.

Our Competition

We believe the principal competitive factors in our business include the depth, breadth, timeliness, and accuracy of database

content and analysis, the ease of use related to content delivery platforms and management software, and value for price. We

believe we compete favorably with respect to each of these factors. Although we face competition in specific markets and

with respect to specific offerings, including related to developing and implementing AI, we do not believe that we have a

direct competitor across all of the markets we serve due to the depth and breadth of our offerings.

Our AI Governance Framework

We have developed general AI principles that serve as a benchmark for responsible AI development and deployment across

Clarivate and guide our business as we incorporate generative AI into product offerings, seeking to enhance value and

innovation. We have incorporated generative AI governance into our contract terms and conditions, helping to ensure

appropriate usage for customers and vendors.

Our Intellectual Property

We own and generate a significant amount of intellectual property, including registered trademarks, trademark applications,

domain names, patents (both granted and pending), copyrights, and expertly curated, interconnected data assets. We also own

certain proprietary software, including AI-powered products and services. In addition, we are licensed to use certain third-

party software and we obtain significant content and data through third-party licensing arrangements with content providers.

We consider our trademarks, service marks, data assets, software, and other intellectual property to be proprietary, and we

rely on a combination of statutory (e.g., copyright, trademark, trade secret, and patent), contractual, and technical safeguards

to protect our intellectual property rights. We believe that the intellectual property we own and license is sufficient to permit

us to carry on our business as presently conducted.

Our agreements with our customers and business partners place certain restrictions on the use of our intellectual property. As

a general practice, employees, contractors, and other parties with access to our proprietary information sign agreements that

prohibit the unauthorized use or disclosure of our intellectual property and confidential information.

Our People

At Clarivate, we have prioritized enhancing our colleague experience and creating a work environment that attracts and

retains top talent from around the world. Our overarching goal is to create a strong foundation on which we can build for the

future to ensure we have career pathways and development opportunities for our talented workforce. We continue to promote

a work environment where we can be our authentic selves – respecting and celebrating our differences.

We foster a values-led culture that begins with our vision to fuel the world’s greatest breakthroughs by harnessing the power

of human ingenuity. Our mission is to advance the success of people and organizations through transformative intelligence

and trusted partnership. Our values help us achieve our goals with ambition (“We aim for greatness”), integrity (“We own our

actions”), and respect for the people around us (“We value every voice”). We provide a variety of colleague-oriented

programs and benefits to attract, retain, and develop a productive and engaged workforce.

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As of December 31, 2025, we had more than 12,000 employees located in over 40 countries around the world. The following

charts present our employees by segment and by geography:

Colleague Engagement

Treating one another with fairness, dignity, and respect are fundamental to our purpose and mission. We believe that people

coming together from different cultures and backgrounds, with different life experiences, is essential to sparking new ideas

and accelerating our progress. We know that colleagues who feel engaged will be the most proactive and productive. Our

goal is to weave these principles into the fabric of our culture to become a recognized global employer of choice.

Some of our corporate initiatives include promoting colleague resource group activities and participation and supporting our

communities. We host seven unique and active colleague resource groups designed for ongoing promotion of social

responsibility and belonging.

Attraction, Development, and Retention

We have a dedicated talent acquisition team whose priority is to attract the best, most suitable candidates using such channels

as proactive sourcing, connecting through universities, ad campaigns, and referrals. Their goal is to identify a diverse,

qualified candidate pool and to provide a positive candidate experience throughout the interview and hiring process. Current

colleagues also are a key source of talent, and we have a number of opportunities enabling colleagues to thrive and advance

their careers. We approach our internal mobility process with the goal of making it easier for our colleagues to grow their

career internally rather than seeking an opportunity with another employer.

Our learning and development philosophy is about bringing our values, culture, and opportunities to life. It’s about

empowering each colleague to bring their best self to work every day and providing a range of opportunities to help them

develop the knowledge and skills they need to be successful. We encourage colleagues to take advantage of the more than

30,000 self-paced eLearning resources available on our Learning Management System platform as well as the many live and

virtual training sessions we offer regularly throughout the year. We align our training offerings to our competency model,

building a foundation for career development and advancement. We provide targeted leadership programming relevant to

increasing levels of responsibility for the organization.

We conduct a colleague engagement survey twice a year to assess overall satisfaction and gather feedback on what colleagues

feel is working well and where there are opportunities for improvement. We are committed to listening, learning, and acting

on the feedback we receive to make Clarivate an even better place for colleagues to work and succeed. Our latest 2025 survey

reflected continued engagement and stability, consistent with the past two years, with colleagues providing more than 20,000

comments sharing their experiences and perspectives. We believe these steady results reflect our ongoing commitment to

actively address colleague feedback to strengthen our workforce and improve our workplace.

We have invested in a robust health and well-being strategy to encourage healthier and happier colleagues. Our global

Employee Assistance Program provides confidential emotional support, legal guidance, financial resources, and online

support. In addition, our well-being platform offers a personalized experience to help colleagues build healthy habits, such as

reducing stress, eating healthier, tracking sleep, and exercising regularly with personal and team challenge incentives.

We strive to offer equitable pay and competitive salaries and wages, and we offer a comprehensive benefits and rewards

package, including healthcare, insurance benefits, retirement savings plans, and more. We also provide paid volunteer time

off to each of our colleagues in support of the United Nations Sustainable Development Goals.

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Available Information

Our internet address is clarivate.com and our investor relations website is ir.clarivate.com. On or through our investor

relations website, we make available, free of charge, printable copies of our annual reports on Form 10-K, quarterly reports

on Form 10-Q, current reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or

15(d) of the Exchange Act as soon as reasonably practicable after we electronically file such material with, or furnish it to,

the SEC. On our website, we also make available printable copies of our Code of Conduct, Amended and Restated

Memorandum of Association, Corporate Governance Guidelines, Audit Committee Charter, Nominating and Governance

Committee Charter, Human Resources and Compensation Committee Charter, Finance Committee Charter, and other

corporate policies.