Clearwater Analytics Holdings, Inc.

Listed Company

CWANCIK 0001866368NYSELarge AcceleratedServices-Prepackaged SoftwareDelawareFY ends Dec 31

Period

FY 2025

Revenue

$731.37M

Net Income

$-38.81M

Total Assets

$3.03B

Equity

$2.02B

Shares Out

Op. Cash Flow

$175.90M

CWAN$24.56+9.89% · past yearDBEQ Basic

Daily closing prices

Business

Clearwater Analytics Holdings, Inc. provides a cloud-native, single-instance multi-tenant software platform delivering investment accounting, portfolio and order management, performance measurement, compliance monitoring, and risk analytics to institutional asset owners and managers. The company's unified platform aggregates and reconciles data from thousands of daily data feeds covering global invested assets across a large client base spanning insurers, asset managers, hedge funds, banks, corporations, and government entities. CWAN serves clients globally with regional sales and engineering operations in the Americas, Asia-Pacific, and EMEA.

Summary from 10-K filed 2026-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	731	452	368	303	252
Cost of revenue	239	123	107	88	68
Gross profit	492	329	261	216	184
Research and development	196	151	124	94	73
Sales and marketing	149	67	60	53	39
General and administrative	154	99	93	64	44
Total operating expenses	500	317	278	211	156
Income (loss) from operations	−8	12	−17	5	28
Interest expense	46	4	5	−1	—
Tax receivable agreement expense	0	53	14	12	—
Other income, net	−4	−15	−13	−50,000	83,000
Loss before income taxes	−50	−30	−23	−5	−8
Provision for (benefit from) income taxes	−9	−458	217,000	1	487,000
Net income (loss)	−40	428	−23	−7	−8
Less: Net income (loss) attributable to non-controlling interests	−1	3	−1	1	119,000
Net income (loss) attributable to Clearwater Analytics Holdings, Inc.	−39	424	−22	−8	−8
Basic (in USD per share)	−0.14	1.93	−0.11	−0.04	−0.05
Diluted (in USD per share)	−0.14	1.68	−0.11	−0.04	−0.05
Basic (in shares)	271	219	200	186	178
Diluted (in shares)	271	254	200	186	178

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	91	177	222	251	255
Short-term investments	0	78	74	5	—
Accounts receivable, net	167	106	92	73	50
Prepaid expenses and other current assets	37	23	28	28	17
Total current assets	296	385	416	356	321
Property, equipment and software, net	27	15	15	15	11
Operating lease right-of-use assets, net	34	25	23	24	0
Deferred contract costs, non-current	13	7	6	7	6
Debt issuance costs - line of credit	3	339,000	533,000	728,000	922,000
Deferred tax assets, net	696	603	1	—	—
Other non-current assets	5	3	4	6	6
Intangible assets, net	688	31	26	29	—
Goodwill	1,270	71	45	44	—
Long-term investments	0	30	21	0	—
Total assets	3,032	1,170	559	482	344
Accounts payable	4	3	3	3	1
Accrued expenses and other current liabilities	112	56	50	42	27
Deferred revenue	22	7	—	—	—
Notes payable, current portion	8	3	3	3	3
Operating lease liability, current portion	15	8	7	6	0
Tax receivable agreement liability	0	35,000	—	—	—
Total current liabilities	161	77	81	66	31
Notes payable, less current maturities and unamortized debt issuance costs	815	43	46	48	51
Operating lease liability, less current portion	23	18	17	20	0
Other long-term liabilities	2	1	6	10	132,000
Total liabilities	1,001	139	149	144	82
Commitments and contingencies (Note 11)	—	—	—	—	—
Additional paid-in-capital	1,754	725	533	455	389
Accumulated other comprehensive (loss) income	7	−1	3	609,000	−34,000
Retained earnings	260	284	−181	−187	−192
Total stockholders' equity attributable to Clearwater Analytics Holdings, Inc.	2,022	1,008	354	—	—
Non-controlling interests	9	22	55	69	65
Total stockholders' equity	2,031	1,030	410	338	262
Total liabilities and stockholders' equity	3,032	1,170	559	482	344

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	86	12	10	5	3
Noncash operating lease cost	17	9	8	6	0
Equity-based compensation	128	103	104	66	37
Amortization of deferred contract acquisition costs	11	5	5	4	3
Amortization of debt issuance costs, included in interest expense	3	280,000	280,000	279,000	2
Debt extinguishment costs	419,000	0	0	—	—
Provision for bad debt	2	0	0	—	—
Deferred tax benefit	−13	−460	−2	−803,000	−675,000
Accretion of discount on investments	−284,000	−2	−1	0	0
Realized gain on investments	−112,000	−35,000	−89,000	0	0
Accounts receivable, net	−11	−14	−19	−19	−17
Prepaid expenses and other assets	−11	6	1	−5	−13
Deferred contract acquisition costs	−17	−6	−5	—	—
Accounts payable	−1	269,000	−115,000	2	361,000
Accrued expenses and other liabilities	22	12	1	207,000	−8
Tax receivable agreement liability	−35,000	−19	6	12	0
Other long-term liabilities	463,000	0	0	—	—
Net cash provided by operating activities	176	74	85	58	3
Purchases of property, equipment and software	−12	−5	−6	−8	−5
Purchases of intangible assets	−10	0	0	—	—
Purchase of held to maturity investments	−5	−3	−3	−3	0
Purchase of available-for-sale investments	0	−115	−124	0	0
Proceeds from sale of available-for-sale investments	89	0	6	0	0
Proceeds from maturities of investments	24	107	32	0	0
Acquisition of business, net of cash acquired	−1,075	−40	0	−66	0
Payment of initial direct costs for operating lease	−89,000	−104,000	0	0	—
Net cash used in investing activities	−988	−56	−95	−77	−5
Proceeds from exercise of options	168,000	248,000	5	18	3
Taxes paid related to net share settlement of equity awards	−34	−55	−21	−3	−2
Repurchase of common stock	−18	0	0	0	−626,000
Proceeds from borrowings, net of payment of debt issuance costs	924	0	0	—	—
Repayments of borrowings	−154	−3	−3	−3	−435
Proceeds from employee stock purchase plan	7	5	5	—	—
Payment of tax distributions	0	−4	−2	—	—
Payment of business acquisition holdback liability	0	−5	−3	0	0
Net cash provided by (used in) financing activities	725	−62	−19	16	195
Effect of exchange rate changes on cash and cash equivalents	713,000	−1	785,000	−2	−112,000
Change in cash and cash equivalents during the period	−86	−44	−29	−4	194
Cash paid for interest	31	3	3	1	26
Cash paid for income taxes	3	2	2	2	802,000
Purchase of property and equipment included in accounts payable and accrued expense	210,000	38,000	435,000	350,000	322,000
Acquisition of Bistro intangible assets paid in common stock	103	0	0	—	—
Tax distributions payable to Continuing Equity Owners included in accrued expenses	3,000	23,000	3	0	793,000

Filings

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Frequently asked questions

What is Clearwater Analytics Holdings, Inc.'s CIK number?

Clearwater Analytics Holdings, Inc.'s SEC CIK number is 0001866368 (1866368). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Clearwater Analytics Holdings, Inc.'s SEC filings?

All of Clearwater Analytics Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Clearwater Analytics Holdings, Inc. last report earnings?

Clearwater Analytics Holdings, Inc. (CWAN) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001866368-26-000017). This is Clearwater Analytics Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Clearwater Analytics Holdings, Inc.'s most recent earnings 8-K?

Clearwater Analytics Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001866368-26-000017. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Clearwater Analytics Holdings, Inc.'s latest earnings 8-K →
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