Clearwater Analytics Holdings, Inc. financials
Source: EDGAR filings · Built 2026-06-02T02:46:49Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 164.34M | 69.06M | 78.98M | 50.25M | -1.67M | -10.29M |
| EBITDA | 77.86M | 24.41M | -6.82M | 10.26M | 31.95M | -18.15M |
| Working Capital | 134.23M | 307.59M | 335.20M | 290.33M | 290.14M | 63.31M |
| Net Debt | 769.09M | -105.28M | -149.45M | -171.06M | -197.53M | 363.82M |
| Gross Margin | 67.29% | 72.78% | 70.90% | 71.07% | 73.07% | 73.79% |
| Operating Margin | -1.05% | 2.71% | -4.55% | 1.69% | 11.29% | -10.05% |
| Net Margin | -5.31% | 93.93% | -5.87% | -2.63% | -3.26% | -21.76% |
| Return on Equity (ROE) | -1.92% | 42.09% | -6.10% | -2.35% | -3.14% | — |
| Return on Assets (ROA) | -1.28% | 36.28% | -3.87% | -1.65% | -2.38% | -38.27% |
| Current Ratio | 1.83× | 4.99× | 5.15× | 5.40× | 10.30× | 2.66× |
| Debt-to-Equity | 0.43× | 0.07× | 0.20× | 0.24× | 0.22× | — |
| Effective Tax Rate | 18.96% | 1522.30% | -0.95% | -25.49% | -6.40% | -2.08% |
| Cash Conversion Ratio | -4.53× | 0.18× | -3.91× | -7.28× | -0.41× | 0.15× |
| Accruals Ratio | -0.07× | 0.30× | -0.19× | -0.14× | -0.03× | -0.33× |
| SBC % of Revenue | 17.49% | 22.84% | 28.37% | 21.65% | 14.56% | 12.11% |
| CapEx Coverage | 15.22× | 14.13× | 15.04× | 7.48× | 0.67× | -1.70× |
| Free Cash Flow Per Share | $0.61 | $0.27 | $0.40 | $0.27 | $-0.01 | — |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | 16.38× | — | — | — | — |
| P/FCF | 39.82× | 101.36× | 50.64× | 69.24× | — | — |
| FCF Yield | 2.51% | 0.99% | 1.97% | 1.44% | — | — |
| EV / EBITDA | 93.94× | -4.31× | — | 322.56× | 121.60× | — |
| P/S | 8.95× | 0.00× | 10.86× | 11.47× | 16.20× | — |
| P/B | 3.24× | 0.00× | 11.29× | 10.28× | 15.59× | — |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 731.37M | 451.80M | 368.17M | 303.43M | 252.02M | 203.22M |
| Cost of Revenue | 239.22M | 122.99M | 107.13M | 87.78M | 67.86M | 53.26M |
| Gross Profit | 492.15M | 328.82M | 261.04M | 215.64M | 184.16M | 149.96M |
| Research and Development Expense | 196.23M | 150.56M | 123.92M | 94.12M | 72.69M | 55.26M |
| Operating Expenses | 499.83M | 316.58M | 277.79M | 210.53M | 155.70M | 170.38M |
| Operating Income (Loss) | -7.69M | 12.23M | -16.75M | 5.12M | 28.46M | -20.42M |
| Income Tax Expense (Benefit) | -9.42M | -457.65M | 217.00K | 1.36M | 487.00K | 902.00K |
| Net Income (Loss) Attributable to Parent | -38.81M | 424.38M | -21.63M | -7.97M | -8.21M | — |
| Earnings Per Share, Basic | $-0.14 | $1.93 | $-0.11 | $-0.04 | $-0.05 | — |
| Weighted Average Number of Shares Outstanding, Basic | 271.32M | 219.32M | 199.69M | 185.56M | 177.68M | — |
| Earnings Per Share, Diluted | $-0.14 | $1.68 | $-0.11 | $-0.04 | $-0.05 | — |
| Weighted Average Number of Shares Outstanding, Diluted | 271.32M | 254.36M | 199.69M | 185.56M | 177.68M | — |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 91.25M | 177.35M | 221.76M | 250.72M | 254.60M | 61.09M |
| Assets, Current | 295.57M | 384.65M | 416.00M | 356.35M | 321.34M | 101.52M |
| Assets | 3.03B | 1.17B | 558.74M | 481.94M | 344.36M | 115.56M |
| Long-term Debt | 822.64M | 43.31M | 46.06M | 51.56M | 54.31M | — |
| Liabilities, Current | 161.34M | 77.05M | 80.79M | 66.01M | 31.20M | 38.21M |
| Long-term Debt, Excluding Current Maturities | 814.64M | — | — | — | — | — |
| Liabilities | 1.00B | 139.34M | 149.09M | 143.56M | 82.49M | 460.17M |
| Stockholders' Equity Attributable to Parent | 2.02B | 1.01B | 354.33M | — | — | — |
| Common Stock, Shares, Outstanding | — | 0 | — | — | — | — |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 175.90M | 74.32M | 84.60M | 58.01M | 3.36M | -6.49M |
| Payments to Acquire Property, Plant, and Equipment | 11.55M | 5.26M | 5.62M | 7.76M | 5.03M | 3.81M |
| Net Cash Provided by (Used in) Investing Activities | -988.13M | -55.65M | -95.06M | -76.55M | -5.03M | -3.81M |
| Payments for Repurchase of Common Stock | 18.05M | 0 | 0 | 0 | 626.00K | 567.00K |
| Payments of Dividends | — | — | — | — | — | 163.26M |
| Net Cash Provided by (Used in) Financing Activities | 725.41M | -61.67M | -19.29M | 16.23M | 195.29M | 51.04M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | 11.23M | 52.29M | 112.05M | 67.13M | 23.03M | -30.02M |
| EBITDA | 38.55M | 22.75M | — | — | 10.23M | 4.67M |
| Working Capital | 163.77M | 134.23M | 123.19M | 129.94M | 339.11M | 307.59M |
| Net Debt | 779.33M | 769.09M | 822.10M | 856.47M | -205.61M | -105.28M |
| Gross Margin | 65.79% | 67.24% | 65.56% | 65.14% | 73.26% | 73.46% |
| Operating Margin | 4.06% | -3.10% | 3.20% | -8.01% | 5.58% | 0.96% |
| Net Margin | -1.25% | -5.55% | -5.04% | -12.77% | 5.13% | 331.54% |
| Return on Equity (ROE) | -0.14% | -0.60% | -0.52% | -1.18% | 0.58% | 41.58% |
| Return on Assets (ROA) | -0.09% | -0.40% | -0.35% | -0.77% | 0.51% | 35.85% |
| Current Ratio | 2.26× | 1.83× | 1.97× | 2.02× | 5.09× | 4.99× |
| Debt-to-Equity | 0.42× | 0.43× | 0.45× | 0.47× | 0.06× | 0.07× |
| Effective Tax Rate | 22.44% | 42.16% | -5.10% | 8.86% | 18.27% | 1240.95% |
| Cash Conversion Ratio | -6.37× | -4.59× | -11.67× | -3.08× | 3.76× | -0.07× |
| Accruals Ratio | -0.01× | -0.02× | -0.04× | -0.03× | -0.01× | 0.38× |
| SBC % of Revenue | 12.92% | 15.25% | 46.19% | 33.67% | 18.69% | 22.25% |
| CapEx Coverage | 2.74× | 18.19× | 14.16× | 16.07× | 16.69× | -35.52× |
| Free Cash Flow Per Share | $0.04 | $0.19 | $0.39 | $0.25 | $0.09 | $-0.12 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | 11.55× | 13.54× | 15.67× | 16.28× |
| P/S | 8.45× | 8.95× | 8.10× | 10.77× | 0.00× | 0.00× |
| P/B | 3.40× | 3.24× | 2.62× | 3.02× | 0.00× | 0.00× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 221.23M | 217.46M | 205.11M | 181.94M | 126.86M | 126.47M |
| Cost of Revenue | 75.68M | 71.24M | 70.64M | 63.42M | 33.92M | 33.56M |
| Gross Profit | 145.55M | 146.22M | 134.47M | 118.51M | 92.94M | 92.90M |
| Research and Development Expense | 57.05M | 57.01M | 52.06M | 49.76M | 37.40M | 40.90M |
| Operating Expenses | 136.56M | 152.96M | 127.92M | 133.09M | 85.86M | 91.69M |
| Operating Income (Loss) | 8.99M | -6.74M | 6.55M | -14.58M | 7.08M | 1.22M |
| Income Tax Expense (Benefit) | -809.00K | -9.13M | 510.00K | -2.35M | 1.55M | -457.14M |
| Net Income (Loss) Attributable to Parent | -2.78M | -12.07M | -10.34M | -23.23M | 6.51M | 419.28M |
| Earnings Per Share, Basic | $-0.01 | $-0.04 | $-0.04 | $-0.09 | $0.03 | $1.91 |
| Weighted Average Number of Shares Outstanding, Basic | 294.99M | 271.32M | 287.98M | 270.63M | 237.32M | 219.32M |
| Earnings Per Share, Diluted | $-0.01 | $-0.04 | $-0.04 | $-0.09 | $0.03 | $1.66 |
| Weighted Average Number of Shares Outstanding, Diluted | 294.99M | 271.32M | 287.98M | 270.63M | 246.21M | 254.36M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 81.51M | 91.25M | 60.75M | 68.40M | 275.16M | 177.35M |
| Assets, Current | 294.24M | 295.57M | 250.81M | 257.60M | 422.06M | 384.65M |
| Assets | 3.03B | 3.03B | 2.99B | 3.02B | 1.29B | 1.17B |
| Long-term Debt | 806.40M | 822.64M | 838.87M | 878.10M | — | 43.31M |
| Liabilities, Current | 130.47M | 161.34M | 127.61M | 127.65M | 82.95M | 77.05M |
| Long-term Debt, Excluding Current Maturities | 798.40M | 814.64M | 830.87M | 872.10M | — | — |
| Liabilities | 972.29M | 1.00B | 988.96M | 1.03B | 142.72M | 139.34M |
| Stockholders' Equity Attributable to Parent | 2.05B | 2.02B | 1.98B | 1.97B | 1.12B | 1.01B |
| Common Stock, Shares, Outstanding | — | — | — | — | 0 | 0 |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 17.68M | 55.33M | 120.56M | 71.58M | 24.50M | -29.20M |
| Payments to Acquire Property, Plant, and Equipment | 6.44M | 3.04M | 8.51M | 4.46M | 1.47M | 822.00K |
| Net Cash Provided by (Used in) Investing Activities | -6.44M | 328.00K | -988.46M | -984.34M | 99.53M | -876.00K |
| Payments for Repurchase of Common Stock | — | 9.55M | 8.50M | — | — | 0 |
| Net Cash Provided by (Used in) Financing Activities | -19.25M | -24.75M | 750.16M | 801.56M | -27.25M | -19.14M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (CWAN CIK 0001866368),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.