Clearwater Analytics Holdings, Inc. (CWAN) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 221.23M | 217.46M | 205.11M | 181.94M | 126.86M | 126.47M | 115.83M | 106.79M | 102.72M | 99.02M | 94.66M | 89.88M | 84.61M | 82.69M | 76.55M | 73.41M | 70.78M | 69.76M | 64.49M | 60.88M |
| Revenue Growth % | 74.38% | 71.95% | 77.08% | 70.37% | 23.51% | 27.72% | 22.36% | 18.82% | 21.41% | 19.75% | 23.66% | 22.44% | 19.54% | 18.53% | 18.71% | 20.59% | 24.4% | 27.4% | - | - |
| Cost of Goods Sold | 75.68M | 71.24M | 70.64M | 63.42M | 33.92M | 33.56M | 31.36M | 29.89M | 28.18M | 28.83M | 27.01M | 26.95M | 24.82M | 22.97M | 22.72M | 20.92M | 21.17M | 20.18M | 17.79M | 15.58M |
| COGS % of Revenue | 34.21% | 32.76% | 34.44% | 34.86% | 26.74% | 26.54% | 27.07% | 27.99% | 27.43% | 29.11% | 28.54% | 29.99% | 29.34% | 27.78% | 29.68% | 28.5% | 29.91% | 28.93% | 27.58% | 25.59% |
| Gross Profit | 145.55M | 146.22M | 134.47M | 118.51M | 92.94M | 92.9M | 84.47M | 76.9M | 74.54M | 70.19M | 67.65M | 62.92M | 59.78M | 59.71M | 53.83M | 52.49M | 49.61M | 49.58M | 46.7M | 45.3M |
| Gross Margin % | 65.79% | 67.24% | 65.56% | 65.14% | 73.26% | 73.46% | 72.93% | 72.01% | 72.57% | 70.89% | 71.46% | 70.01% | 70.66% | 72.22% | 70.32% | 71.5% | 70.09% | 71.07% | 72.42% | 74.41% |
| Gross Profit Growth % | 56.6% | 57.39% | 59.19% | 54.11% | 24.68% | 32.36% | 24.86% | 22.21% | 24.69% | 17.55% | 25.67% | 19.88% | 20.51% | 20.43% | 15.26% | 15.87% | 16.52% | 21.79% | - | - |
| Operating Expenses | 130.51M | 135.45M | 127.92M | 133.09M | 85.86M | 91.69M | 77.13M | 73.06M | 74.71M | 67.6M | 73.54M | 70.05M | 66.1M | 55.84M | 55M | 51.36M | 48.33M | 48.93M | 39.44M | 36.74M |
| OpEx % of Revenue | 58.99% | 62.29% | 62.37% | 73.15% | 67.68% | 72.5% | 66.59% | 68.41% | 72.73% | 68.27% | 77.68% | 77.94% | 78.13% | 67.53% | 71.84% | 69.97% | 68.28% | 70.13% | 61.16% | 60.35% |
| Selling, General & Admin | 73.46M | 78.44M | 75.85M | 83.34M | 48.46M | 50.78M | 40.52M | 37.7M | 37.03M | 34.37M | 41.29M | 40.2M | 38M | 27.75M | 29.56M | 28.53M | 27.03M | 27.23M | 21.03M | 20M |
| SG&A % of Revenue | 33.2% | 36.07% | 36.98% | 45.81% | 38.2% | 40.16% | 34.98% | 35.3% | 36.05% | 34.71% | 43.62% | 44.73% | 44.92% | 33.57% | 38.61% | 38.86% | 38.19% | 39.03% | 32.6% | 32.85% |
| Research & Development | 57.05M | 57.01M | 52.06M | 49.76M | 37.4M | 40.9M | 36.62M | 35.36M | 37.68M | 33.47M | 32.25M | 29.85M | 28.1M | 24.55M | 25.44M | 22.84M | 21.29M | 21.7M | 18.41M | 16.74M |
| R&D % of Revenue | 25.79% | 26.22% | 25.38% | 27.35% | 29.48% | 32.34% | 31.61% | 33.11% | 36.68% | 33.8% | 34.07% | 33.21% | 33.21% | 29.69% | 33.23% | 31.11% | 30.09% | 31.1% | 28.56% | 27.5% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -234K | 0 | 0 | 0 | 1000K | 1 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 15.04M | 10.77M | 6.55M | -14.58M | 7.08M | 1.22M | 7.34M | 3.84M | -166K | 2.59M | -5.89M | -7.13M | -6.32M | 3.88M | -1.16M | 1.13M | 1.28M | 654K | 7.26M | 8.56M |
| Operating Margin % | 6.8% | 4.95% | 3.2% | -8.01% | 5.58% | 0.96% | 6.34% | 3.6% | -0.16% | 2.62% | -6.22% | -7.93% | -7.47% | 4.69% | -1.52% | 1.54% | 1.81% | 0.94% | 11.26% | 14.06% |
| Operating Income Growth % | 112.38% | 783.99% | -10.68% | -479.29% | 4366.27% | -52.97% | 224.65% | 153.95% | 97.37% | -33.16% | -405.76% | -732.21% | -594.37% | 492.51% | -116.03% | -86.84% | -89.33% | 101.06% | - | - |
| EBITDA | 44.6M | 40.26M | 35.85M | 9.03M | 10.23M | 4.67M | 10.58M | 6.79M | 2.38M | 5.18M | -3.41M | -4.71M | -3.87M | 5.42M | 217K | 2.29M | 2.24M | 1.94M | 8.05M | 9.3M |
| EBITDA Margin % | 20.16% | 18.51% | 17.48% | 4.96% | 8.06% | 3.69% | 9.13% | 6.35% | 2.32% | 5.23% | -3.6% | -5.24% | -4.58% | 6.55% | 0.28% | 3.11% | 3.16% | 2.79% | 12.49% | 15.27% |
| EBITDA Growth % | 336.04% | 762.2% | 238.98% | 33.03% | 329.03% | -9.92% | 410.09% | 243.93% | 161.54% | -4.28% | -1671.89% | -306.21% | -273.1% | 178.69% | -97.31% | -75.41% | -82.32% | 103.19% | - | - |
| D&A (Non-Cash Add-back) | 29.56M | 29.49M | 29.3M | 23.61M | 3.15M | 3.45M | 3.24M | 2.94M | 2.55M | 2.59M | 2.48M | 2.41M | 2.45M | 1.54M | 1.38M | 1.16M | 959K | 1.29M | 792K | 735K |
| EBIT | 15.04M | 10.77M | 6.12M | -13.03M | 7.08M | 1.22M | 7.34M | 3.84M | -166K | 2.59M | -5.89M | -7.13M | -6.32M | 7.51M | -1.16M | 1.13M | 1.28M | -9.73M | 7.26M | 8.57M |
| Net Interest Income | -12.65M | -15.16M | -16.12M | -13.46M | 1.69M | 2.43M | 2.29M | 1.84M | 2.06M | 1.98M | 1.73M | 1.33M | 1.36M | 1.28M | 693K | -403K | -429K | -421K | -8.3M | -8.51M |
| Interest Income | 0 | 0 | 0 | 0 | 1.69M | 2.43M | 2.29M | 1.84M | 2.06M | 1.98M | 1.73M | 1.33M | 1.36M | 1.28M | 693K | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 12.65M | 15.16M | 16.12M | 13.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 403K | 429K | 421K | 8.3M | 8.51M |
| Other Income/Expense | -18.65M | -32.42M | -16.56M | -11.92M | 1.4M | -38.06M | -3.06M | -3.49M | 2.3M | -5.64M | 3.27M | -4.92M | 1.17M | -5.44M | -1.44M | -3.06M | -514K | -569K | -18.48M | -8.5M |
| Pretax Income | -3.6M | -21.66M | -10M | -26.5M | 8.49M | -36.84M | 4.28M | 355K | 2.14M | -3.05M | -2.62M | -12.05M | -5.15M | -1.57M | -2.6M | -1.93M | 765K | 85K | -11.21M | 65K |
| Pretax Margin % | -1.63% | -9.96% | -4.88% | -14.56% | 6.69% | -29.13% | 3.7% | 0.33% | 2.08% | -3.08% | -2.76% | -13.41% | -6.09% | -1.89% | -3.4% | -2.63% | 1.08% | 0.12% | -17.39% | 0.11% |
| Income Tax | -809K | -9.13M | 510K | -2.35M | 1.55M | -457.14M | -486K | 79K | -98K | 401K | -274K | -174K | 264K | 401K | 424K | 298K | 237K | -49K | 216K | 276K |
| Effective Tax Rate % | 22.44% | 42.16% | -5.1% | 8.86% | 18.27% | 1240.95% | -11.35% | 22.25% | -4.58% | -13.16% | 10.47% | 1.44% | -5.12% | -25.61% | -16.3% | -15.42% | 30.98% | -57.65% | -1.93% | 424.62% |
| Net Income | -2.78M | -11.76M | -10.34M | -23.23M | 6.51M | 419.28M | 3.63M | -430K | 1.9M | -4.19M | -1.89M | -10.92M | -4.38M | -2.96M | -2.97M | -2.43M | 398K | 101K | -8.31M | -211K |
| Net Margin % | -1.25% | -5.41% | -5.04% | -12.77% | 5.13% | 331.54% | 3.13% | -0.4% | 1.85% | -4.23% | -2% | -12.15% | -5.18% | -3.58% | -3.88% | -3.31% | 0.56% | 0.14% | -12.89% | -0.35% |
| Net Income Growth % | -142.64% | -102.8% | -384.79% | -5301.16% | 242.99% | 10116.29% | 292.11% | 96.06% | 143.29% | -41.32% | 36.48% | -349.79% | -1201.51% | -3032.67% | 64.23% | -1050.71% | -88.33% | 100.15% | - | - |
| Net Income (Continuing) | -2.8M | -12.53M | -10.51M | -24.15M | 6.94M | 420.31M | 4.77M | 276K | 2.24M | -3.45M | -2.34M | -11.88M | -5.42M | -1.97M | -3.03M | -2.23M | 528K | 134K | -11.43M | -211K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 5.06M | 9.36M | 20M | 20.39M | 26.78M | 21.98M | 50.37M | 48.06M | 45.55M | 55.33M | 65.81M | 62.7M | 64.44M | 68.86M | 63.91M | 63.07M | 62.08M | 65M | 60.11M | 0 |
| 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 |
| EPS Growth % | -135.61% | -102.45% | -328.66% | - | - | 7681.4% | - | 97.1% | 126.33% | -106.73% | 26.77% | - | - | - | 63.92% | - | -91.88% | 100.1% | - | - |
| 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 |
| Diluted Shares Outstanding | 294.99M | 288.61M | 287.98M | 270.63M | 246.21M | 258.13M | 231.47M | 218.35M | 255.46M | 206.19M | 201.58M | 158.41M | 192.99M | 190.02M | 237.87M | 237.55M | 246.92M | 252.3M | 235.98M | 172.95M |
| Basic Shares Outstanding | 294.99M | 288.61M | 287.98M | 270.63M | 237.32M | 226.57M | 219.01M | 218.35M | 213.26M | 206.19M | 201.58M | 158.41M | 192.99M | 190.02M | 237.87M | 237.55M | 246.92M | 177.7M | 177.45M | 172.95M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |