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Clearwater Analytics Holdings, Inc.

NYSE•CWAN
CEO: Mr. Sandeep Sahai
Sector: Technology
Industry: Software - Application
Listing Date: 2021-09-24
Clearwater Analytics Holdings, Inc. develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally. It offers investment accounting and reporting, performance measurement, compliance monitoring, and risk analytics solutions. The company's Clearwater Prism SaaS-based data and reporting platform for investment data delivers a range of product modules, including Prism reporting and statements, Prism connectors, Prism data ops, and Prism managed services. It also provides Clearwater JUMP that provides a modular front, middle and back office solution to investment managers, private banks, and insurer, as well as portfolio management and order management, unit-linked funds, tri-partite templates, and full trade life cycle solutions. In addition, the company offers Clearwater LPx, a full-service solution for private funds that delivers complete, timely, accurate, and consumable data for limited partnerships; and Clearwater MLx, a comprehensive mortgage loan investment solution that provides investors to drive growth and make informed decisions, oversight, and reporting capabilities for mortgage loan investments, as well as enhances risk reporting, servicer tracking, oversight, and accounting capabilities. The company was founded in 2004 and is headquartered in Boise, Idaho.
Contact Information
777 W. Main Street, Suite 900, Boise, ID, 83702, United States
208-433-1200
clearwateranalytics.com
Market Cap
$7.19B
P/E (TTM)
-180.2
28
Dividend Yield
--
52W High
$25.07
52W Low
$15.74
52W Range
91%
Rank41Top 44.9%
4.0
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Average • 4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2020-2025

Financial Dashboard

Q4 2025 Data

Revenue

$217.46M+0.00%
4-Quarter Trend

EPS

-$0.04+0.00%
4-Quarter Trend

FCF

$52.29M+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Growth 62% Revenue increased $279.6M, or 62%, in 2025 compared to 2024, reaching $731.4M total.
ARR Reached $841.0M Annualized Recurring Revenue reached $841.0M by Q4 2025, showing strong growth from $474.9M end of 2024.
Strong Client Retention Rates Net revenue retention reached 109% in Q4 2025; gross retention consistently remained at least 98%.
Merger Announced $8.4B Entered definitive Merger Agreement in December 2025 to be acquired for approximately $8.4B cash per share.

Risk Factors

Merger Closing Uncertainty Proposed $8.4B Merger closing in Q2 2026 faces regulatory approvals and other closing conditions that may cause delays.
Fee Revenue Volatility Risk Results highly dependent on asset value fluctuations; downturns in market conditions reduce fee-based revenue and earnings.
Intense Competitive Landscape Highly competitive market pressures pricing and requires continuous innovation against larger, better-resourced rivals.
Talent Acquisition Challenges Continued growth depends on attracting and retaining top talent; failure to manage personnel impacts operational capacity.

Outlook

Accelerate International Growth International revenue is 25% of total, targeting expansion where global TAM represents 51% of addressable market.
Deepen Product Offerings Plan to introduce new modules like CWAN Private Credit, CWAN Private Funds, and Clearwater for Stable Value solutions.
Leverage AI Technology Adoption Continue heavy investment in GenAI and AI Agents to drive efficiency, automate workflows, and enhance platform capabilities.
Focus on Merger Integration Focus shifts to successfully integrating Enfusion and Beacon acquisitions while preparing for the proposed 2026 acquisition close.

Peer Comparison

Revenue (TTM)

WEX stock ticker logoWEX
$2.70B
+3.3%
ACIW stock ticker logoACIW
$1.76B
+10.4%
BILL stock ticker logoBILL
$1.55B
+11.8%

Gross Margin (Latest Quarter)

WK stock ticker logoWK
80.7%
+2.8pp
BILL stock ticker logoBILL
79.8%
-1.4pp
FROG stock ticker logoFROG
77.6%
+3.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
CWAN$7.19B-180.2-2.2%29.1%
FROG$6.04B-82.5-8.5%1.4%
WEX$5.24B16.827.0%34.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
19.7%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Deep Research

Next earnings:May 7, 2026
|
EPS:$0.16
|
Revenue:$214.09M
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement
LTM
No Data