Clearwater Analytics Holdings, Inc. logo CWAN - Clearwater Analytics Holdings, Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 3
HOLD 9
SELL 1
STRONG
SELL
0
| PRICE TARGET: $24.96 DETAILS
HIGH: $27.00
LOW: $24.55
MEDIAN: $24.55
CONSENSUS: $24.96
UPSIDE: 2.63%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Revenue
Revenue 221.2 217.5 205.1 181.9 126.9 126.5 115.8 106.8 102.7 99.0 94.7 89.9 84.6 82.7 76.6 73.4 70.8 69.8 64.5 60.9 56.9 54.8 53.4 48.6 46.5
Cost of Revenue 75.7 71.2 70.6 63.4 33.9 33.6 31.4 29.9 28.2 28.8 27.0 27.0 24.8 23.0 22.7 20.9 21.2 20.2 17.8 15.6 14.3 14.0 12.3 13.1 13.8
Gross Profit 145.5 146.2 134.5 118.5 92.9 92.9 84.5 76.9 74.5 70.2 67.7 62.9 59.8 59.7 53.8 52.5 49.6 49.6 46.7 45.3 42.6 40.7 41.0 35.6 32.7
Operating Expenses
R&D Expenses 57.0 57.0 52.1 49.8 37.4 40.9 36.6 35.4 37.7 33.5 32.2 29.8 28.1 24.6 25.4 22.8 21.3 21.7 18.4 16.7 15.8 16.4 14.8 12.3 11.8
SG&A Expenses 79.5 96.0 75.9 83.3 48.5 50.8 40.5 37.7 37.0 34.4 41.3 40.2 38.0 27.8 29.6 28.5 27.0 27.2 21.0 20.0 14.8 36.8 9.8 8.9 10.7
Other Expenses 0 0 0 0 0 0 0 0 0 (0.2) 0 0 0 3.5 0.0 0 0 0 0 0 0 49.0 0 0 0
Operating Expenses 136.6 153.0 127.9 133.1 85.9 91.7 77.1 73.1 74.7 67.6 73.5 70.0 66.1 55.8 55.0 51.4 48.3 48.9 39.4 36.7 30.6 102.2 24.5 21.1 22.5
Operating Income
Operating Income 9.0 (6.7) 6.6 (14.6) 7.1 1.2 7.3 3.8 (0.2) 2.6 (5.9) (7.1) (6.3) 3.9 (1.2) 1.1 1.3 0.7 7.3 8.6 12.0 (61.5) 16.5 14.4 10.2
Interest Expense 12.6 15.2 16.1 13.5 0 0 0 0 0 0 0 0 0 0 0 0.4 0.4 0.4 8.3 8.5 8.4 7.5 4.8 5.6 5.2
Interest Income 0 0 0 0 1.7 2.4 2.3 1.8 2.1 2.0 1.7 1.3 1.4 1.3 0.7 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA 38.6 23.0 35.4 10.6 10.2 4.7 10.6 6.8 2.4 5.2 (3.4) (4.7) (3.9) 9.0 0.2 2.3 2.2 (8.4) 8.1 9.3 12.6 (60.8) 17.1 14.4 10.2
EBIT 9.0 (6.5) 6.1 (13.0) 7.1 1.2 7.3 3.8 (0.2) 2.6 (5.9) (7.1) (6.3) 7.5 (1.2) 1.1 1.3 (9.7) 7.3 8.6 11.9 (61.5) 16.5 14.4 10.2
Income Before Tax (3.6) (21.7) (10.0) (26.5) 8.5 (36.8) 4.3 0.4 2.1 (3.0) (2.6) (12.1) (5.2) (1.6) (2.6) (1.9) 0.8 0.1 (11.2) 0.1 3.5 (68.8) 11.6 8.9 5.0
Income Tax Expense (0.8) (9.1) 0.5 (2.3) 1.6 (457.1) (0.5) 0.1 (0.1) 0.4 (0.3) (0.2) 0.3 0.4 0.4 0.3 0.2 (0.0) 0.2 0.3 0.0 0.6 0.1 0.0 0.2
Net Income (2.8) (11.8) (10.3) (23.2) 6.5 419.3 3.6 (0.4) 1.9 (4.2) (1.9) (10.9) (4.4) (3.0) (3.0) (2.4) 0.4 0.1 (8.3) (0.2) 3.4 (69.4) 11.5 8.8 4.8
Per Share Data
EPS (Basic) -0.01 -0.04 -0.04 -0.09 0.03 1.85 0.02 -0.00 0.01 -0.02 -0.01 -0.07 -0.03 -0.01 -0.01 -0.01 0.00 0.00 -0.05 -0.00 0.02 -0.40 0.07 0.03 0.03
EPS (Diluted) -0.01 -0.04 -0.04 -0.09 0.03 1.63 0.02 -0.00 0.01 -0.02 -0.01 -0.07 -0.03 -0.01 -0.01 -0.01 0.00 0.00 -0.04 -0.00 0.02 -0.40 0.07 0.03 0.03
Shares Outstanding 295.0 288.6 288.0 270.6 237.3 226.6 219.0 218.3 213.3 206.2 201.6 158.4 193.0 190.0 237.9 237.5 246.9 177.7 177.4 172.9 172.9 172.9 172.9 204.5 220.2
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4
Current Assets
Cash & Cash Equivalents 81.5 91.2 60.8 68.4 275.2 177.3 228.7 190.1 189.6 221.8 205.7 190.2 220.8 250.7 288.5 278.6 263.7 254.6 245.1 41.0 0 61.1
Short-Term Investments 0 0 3.4 3.5 7.7 78.1 77.1 67.8 77.9 74.5 79.6 63.3 19.2 4.9 3 3 0 0 0 0 0 0
Net Receivables 169.6 171.9 156.8 153.7 114.5 110.2 108.2 104.8 106.7 100.9 98.1 89.3 81.4 79.2 65.2 55.6 53.2 50.2 49.0 45.1 0 32.9
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 43.1 32.4 8.8 8.7 6.3 6.2 6.0 5.4 5.4 5.6 7.3 8.2 10.7 6.5 2.3 2.0 4.9 4.8 3.9 1.0 0 3.4
Total Current Assets 294.2 295.6 250.8 257.6 422.1 384.6 430.8 382.7 395.8 416.0 401.2 365.4 349.0 356.3 369.3 350.7 334.6 321.3 305.2 95.6 0 101.5
Non-Current Assets
Property, Plant & Equipment 82.1 60.9 66.6 68.2 37.9 39.6 41.0 43.2 42.8 37.9 37.7 40.3 41.7 39.2 34.9 34.2 35.0 10.7 10.0 9.3 0 8.8
Goodwill 1,268.4 1,270.1 1,267.1 1,267.3 72.6 71.0 74.2 72.2 44.3 45.3 42.6 43.6 43.8 43.8 0 0 0 0 0 0 0 0
Intangible Assets 660.6 687.6 714.1 740.5 142.9 30.9 34.0 34.6 24.5 26.1 26.0 27.7 28.9 29.5 0 0 0 0 0 0 0 0
Long-Term Investments 0 0.2 0 0 0 30.3 30.9 39.7 28.9 21.5 17.6 24.3 16.7 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 19.1 21.7 20.1 18.0 9.3 10.7 12.5 12.6 11.5 10.5 10.3 10.4 11.3 11.6 15.5 15.7 12.0 11.6 11.4 15.6 0 5.2
Total Non-Current Assets 2,732.6 2,736.4 2,739.7 2,763.6 863.3 784.9 192.6 202.4 152.1 142.7 134.3 146.3 142.4 125.6 50.4 49.9 47.0 23.0 21.4 24.9 0 14.0
Total Assets 3,026.9 3,031.9 2,990.5 3,021.2 1,285.3 1,169.6 623.5 585.1 547.8 558.7 535.5 511.7 491.4 481.9 419.7 400.6 381.6 344.4 326.6 120.5 0 115.6
Current Liabilities
Account Payables 1.6 4.1 3.3 6.1 2.0 2.9 4.2 3.0 2.7 3.1 2.9 2.8 2.7 3.1 1.7 0.9 1.0 1.4 1.5 5.8 0 1.3
Short-Term Debt 22.2 23.1 8 6 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 8.1 7.9 2.8 2.8 2.8 3.1 0 3.1
Deferred Revenue 28.0 21.9 17.2 20.8 9.1 7.3 12.0 10.8 5.9 2.8 3.5 2.8 0 1.2 1.3 1.1 0 0.8 0 2.2 0 0
Other Current Liabilities 78.6 110.7 30.9 38.2 37.8 25.7 21.5 18.9 20.9 20.6 16.9 13.7 28.0 18.3 9.6 8.9 4.1 8.4 10.1 11.4 0 10.2
Total Current Liabilities 130.5 161.3 127.6 127.7 83.0 77.1 92.4 80.0 70.8 80.8 63.1 58.1 59.4 66.0 35.6 29.7 27.8 31.2 32.3 28.4 0 38.2
Non-Current Liabilities
Long-Term Debt 838.6 837.2 830.9 872.1 42.5 43.2 43.8 45.2 45.2 45.8 46.5 47.2 47.8 48.5 49.2 49.8 50.5 51.2 51.8 421.2 0 421.8
Deferred Tax Liabilities 0 0.8 1.1 1.2 0.7 1.3 2.4 3.3 4.0 5.4 4.8 5.3 0 5.9 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 3.2 (21.0) 0.9 1.0 0.9 0.2 12.1 6.7 0.5 0.2 12.0 10.8 9.6 3.6 7.3 4.1 0.1 0.1 0.1 0.1 0 0.1
Total Non-Current Liabilities 841.8 839.5 861.3 905.6 59.8 62.3 77.4 76.5 70.8 68.3 80.9 82.8 78.5 77.5 73.9 71.7 70.0 51.3 52.0 421.4 0 422.0
Total Liabilities 972.3 1,000.8 989.0 1,033.3 142.7 139.3 169.8 156.5 141.6 149.1 144.1 140.9 137.9 143.6 109.5 101.4 97.8 82.5 84.2 449.7 0 460.2
Stockholders' Equity
Common Stock 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0 0 (245.8)
Retained Earnings 261.6 260.0 261.0 270.7 286.2 283.9 (166.0) (170.1) (169.6) (181.3) (190.6) (189.1) (183.3) (186.6) (184.6) (183.2) (183.2) (191.9) (191.2) (242.6) 0 0
Accumulated Other Comprehensive Income 2.8 7.1 7.4 8.3 2.0 (1.1) 4.6 0.8 1.3 2.9 (0.5) 1.5 1.7 0.6 (1.9) (1.0) (0.3) (0.0) (0.0) 0.1 0 (98.8)
Total Stockholders' Equity 2,049.5 2,021.7 1,981.5 1,967.6 1,115.8 1,008.3 403.2 380.6 360.7 354.3 325.6 308.0 289.0 269.5 246.3 236.2 221.7 196.9 182.3 (329.2) 0 (344.6)
Total Liabilities & Equity 3,026.9 3,031.9 2,990.5 3,021.2 1,285.3 1,169.6 623.5 585.1 547.8 558.7 535.5 511.7 491.4 481.9 419.7 400.6 381.6 344.4 326.6 120.5 0 115.6
Debt Metrics
Total Debt 860.8 882.9 882.9 924.9 69.5 71.9 73.5 76.9 76.7 72.1 73.3 75.9 78.1 76.6 74.7 75.5 77.9 53.9 54.6 424.3 0 424.9
Net Debt 779.3 791.6 822.1 856.5 (205.6) (105.4) (155.2) (113.2) (113.0) (149.7) (132.3) (114.3) (142.7) (174.1) (213.9) (203.1) (185.7) (200.7) (190.5) 383.3 0 363.8
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Operating Activities
Net Income (2.8) (12.1) (10.5) (24.2) 6.9 419.5 4.8 (0.4) 1.9 (4.2) (2.3) (11.9) (5.4) (2.0) (3.0) (2.2) 0.5 0.1 (11.4) (0.2) 3.4 (69.4) 11.5 6.8 6.8
Depreciation & Amortization 29.6 29.5 29.3 23.6 3.1 3.5 3.2 2.9 2.5 2.6 2.5 2.4 2.4 1.6 1.4 1.2 1.0 1.3 0.8 0.7 0.7 0.7 0.6 0.5 0.5
Stock-Based Compensation 28.6 0 33.5 37.5 23.7 28.1 26.0 24.9 24.2 22.3 30.4 28.6 23.2 16.9 16.7 16.2 15.9 17.5 7.7 6.7 4.9 17.9 1.7 2.5 2.5
Change in Working Capital (44.0) 3.2 (11.3) 4.3 (13.9) (27.8) 13.6 13.8 (20.9) 7.2 (0.6) (0.5) (15.3) (6.6) (6.0) (2.4) (13.0) (6.8) (1.4) (6.5) (28.5) 16.9 (0.4) (5.0) (5.0)
Other Non-Cash Items 8.3 44.6 10.3 7.6 3.4 4.5 3.0 3.7 3.3 (2.7) 2.7 2.7 3.0 1.9 3.1 3.0 2.6 0.4 11.7 1.3 1.2 1.3 1.2 0.9 0.9
Operating Cash Flow 17.7 55.3 49.0 47.1 24.5 (29.2) 49.6 43.9 10.0 24.1 31.7 21.1 7.9 18.2 14.7 18.3 6.9 12.4 7.3 2.0 (18.4) (32.5) 14.5 5.8 5.8
Investing Activities
Capital Expenditure (6.4) (3.0) (4.1) (3.0) (1.5) (0.8) (1.5) (1.5) (1.4) (1.6) (0.8) (1.6) (1.7) (1.9) (1.9) (1.7) (2.2) (1.5) (1.3) (0.9) (1.3) (0.7) (0.8) (1.2) (1.2)
Acquisitions 0 0.0 0 (1,074.8) 0 0 0 (40.1) 0 (2.9) 9.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 (4.7) (20.6) (26.6) (38.5) (31.9) (16.2) (19.3) (57.5) (34.2) 0 0 (3) 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 3.3 0 4.2 105.7 20.6 27.0 38.3 21.5 18.3 10.3 6.0 3.2 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 10 (0.1) (10.3) 0 0 0 (0.1) 0 2.9 (9.1) 0 0 (65.8) 0 0 0 0 0 0 0 0 0 0 0
Investing Cash Flow (6.4) 0.3 (4.1) (1,083.9) 99.5 (0.9) (1.0) (41.9) (11.8) 0.6 (9.8) (53.1) (32.6) (67.7) (1.9) (4.7) (2.2) (1.5) (1.3) (0.9) (1.3) (0.7) (0.8) (1.2) (1.2)
Financing Activities
Net Debt Issuance (17) (17) (40) 828.1 (0.7) (0.7) (1.4) (0.0) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (0.7) (377.7) (0.8) (0.8) 201.9 (20.3) 0 0
Stock Repurchased 0 (9.6) 0 0 (24.4) 0 0 0 0 0 (6.4) 0 0 0 0 0 0 0 0 0 (0.6) 0 (0.6) 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (2.2) (1.5) (11.4) (2.8) (2.2) (20.4) (9.6) (4.3) (29.6) (10.9) 1.3 1.9 (4.6) 11.4 (1.0) 3.2 5.4 (2.3) (6.5) (0.1) (0.6) (129.9) 0.4 (0.3) (0.3)
Financing Cash Flow (19.2) (24.7) (51.4) 828.8 (27.2) (19.1) (10.9) (1.5) (30.1) (9.4) (5.9) 1.2 (5.3) 10.8 (1.7) 2.5 4.7 (1.4) 198.0 (0.9) (0.4) 72.0 (20.4) (0.3) (0.3)
Cash Position
Net Change in Cash (9.7) 30.5 (7.7) (206.8) 97.8 (51.3) 38.6 0.5 (32.1) 16.1 15.4 (30.6) (29.9) (37.8) 9.9 15.0 9.1 9.5 204.1 0.1 (20.1) 38.9 (6.6) 4.2 4.2
Cash at Beginning 91.2 60.8 68.4 275.2 177.3 228.7 190.1 189.6 221.8 205.7 190.2 220.8 250.7 288.5 278.6 263.7 254.6 245.1 41.0 40.9 61.1 22.1 28.7 24.5 0
Cash at End 81.5 91.2 60.8 68.4 275.2 177.3 228.7 190.1 189.6 221.8 205.7 190.2 220.8 250.7 288.5 278.6 263.7 254.6 245.1 41.0 40.9 61.1 22.1 28.7 4.2
Free Cash Flow 11.2 52.3 44.9 44.1 23.0 (30.0) 48.1 42.4 8.6 22.5 30.9 19.6 6.2 16.3 12.8 16.5 4.7 10.9 6.0 1.1 (19.7) (33.2) 13.7 4.6 4.6
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Income Statement
Revenue 221.2 217.5 205.1 181.9 126.9 126.5 115.8 106.8 102.7 99.0 94.7 89.9 84.6 82.7 76.6 73.4 70.8 69.8 64.5 60.9 56.9 54.8 53.4 48.6 46.5
Gross Profit 145.5 146.2 134.5 118.5 92.9 92.9 84.5 76.9 74.5 70.2 67.7 62.9 59.8 59.7 53.8 52.5 49.6 49.6 46.7 45.3 42.6 40.7 41.0 35.6 32.7
Operating Income 9.0 (6.7) 6.6 (14.6) 7.1 1.2 7.3 3.8 (0.2) 2.6 (5.9) (7.1) (6.3) 3.9 (1.2) 1.1 1.3 0.7 7.3 8.6 12.0 (61.5) 16.5 14.4 10.2
Net Income (2.8) (11.8) (10.3) (23.2) 6.5 419.3 3.6 (0.4) 1.9 (4.2) (1.9) (10.9) (4.4) (3.0) (3.0) (2.4) 0.4 0.1 (8.3) (0.2) 3.4 (69.4) 11.5 8.8 4.8
EPS (Diluted) -0.01 -0.04 -0.04 -0.09 0.03 1.63 0.02 -0.00 0.01 -0.02 -0.01 -0.07 -0.03 -0.01 -0.01 -0.01 0.00 0.00 -0.04 -0.00 0.02 -0.40 0.07 0.03 0.03
Balance Sheet
Cash & Equivalents 81.5 91.2 60.8 68.4 275.2 177.3 228.7 190.1 189.6 221.8 205.7 190.2 220.8 250.7 288.5 278.6 263.7 254.6 245.1 41.0 0 61.1
Total Assets 3,026.9 3,031.9 2,990.5 3,021.2 1,285.3 1,169.6 623.5 585.1 547.8 558.7 535.5 511.7 491.4 481.9 419.7 400.6 381.6 344.4 326.6 120.5 0 115.6
Total Debt 860.8 882.9 882.9 924.9 69.5 71.9 73.5 76.9 76.7 72.1 73.3 75.9 78.1 76.6 74.7 75.5 77.9 53.9 54.6 424.3 0 424.9
Stockholders' Equity 2,049.5 2,021.7 1,981.5 1,967.6 1,115.8 1,008.3 403.2 380.6 360.7 354.3 325.6 308.0 289.0 269.5 246.3 236.2 221.7 196.9 182.3 (329.2) 0 (344.6)
Cash Flow
Operating Cash Flow 17.7 55.3 49.0 47.1 24.5 (29.2) 49.6 43.9 10.0 24.1 31.7 21.1 7.9 18.2 14.7 18.3 6.9 12.4 7.3 2.0 (18.4) (32.5) 14.5 5.8 5.8
Capital Expenditure (6.4) (3.0) (4.1) (3.0) (1.5) (0.8) (1.5) (1.5) (1.4) (1.6) (0.8) (1.6) (1.7) (1.9) (1.9) (1.7) (2.2) (1.5) (1.3) (0.9) (1.3) (0.7) (0.8) (1.2) (1.2)
Free Cash Flow 11.2 52.3 44.9 44.1 23.0 (30.0) 48.1 42.4 8.6 22.5 30.9 19.6 6.2 16.3 12.8 16.5 4.7 10.9 6.0 1.1 (19.7) (33.2) 13.7 4.6 4.6