Clearwater Analytics Holdings (CWAN) Cost of Revenue (2020 - 2026)

Clearwater Analytics Holdings (CWAN) has 7 years of Cost of Revenue data on file, last reported at $75.7 million in Q1 2026.

• For the quarter ending Q1 2026, Cost of Revenue rose 285.52% year-over-year to $75.7 million; the trailing twelve-month figure through Mar 2026 stood at $164.8 million (up 66.83% YoY), and the FY2025 full-year result was $149.2 million, up 121.82% from the prior year.
• Cost of Revenue for Q1 2026 stood at $75.7 million, up from -$18.8 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $75.7 million in Q1 2026 and bottomed at -$18.8 million in Q4 2025.
• The 5-year median for Cost of Revenue is $27.0 million (2023), against an average of $29.7 million.
• The widest annual swing landed in 2025, when Cost of Revenue tumbled 205.14%; it then soared 285.52% in 2026.
• A 5-year view of Cost of Revenue shows it stood at $23.0 million in 2022, then surged by 174.57% to $63.1 million in 2023, then tumbled by 71.65% to $17.9 million in 2024, then sank by 205.14% to -$18.8 million in 2025, then soared by 502.47% to $75.7 million in 2026.
• The last three Cost of Revenue figures came in at $75.7 million (Q1 2026), -$18.8 million (Q4 2025), and $44.5 million (Q3 2025), per Business Quant data.

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