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

Clearwater Analytics Holdings' Cost of Revenue history runs 7 years deep, the most recent figure standing at $75.7 million for Q1 2026.

• Quarterly Cost of Revenue rose 123.09% year-over-year to $75.7 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $281.0 million (up 118.27% YoY) and the FY2025 annual result came in at $239.2 million, up 94.51% from the prior year.
• Cost of Revenue was $75.7 million for Q1 2026 at Clearwater Analytics Holdings, up from $71.2 million in the prior quarter.
• Across five years, Cost of Revenue topped out at $75.7 million in Q1 2026 and bottomed at $20.9 million in Q2 2022.
• A 5-year average of $37.2 million and a median of $28.3 million in 2023 frame the typical range for Cost of Revenue.
• Annual changes were most pronounced in 2024 — Cost of Revenue increased 10.89% — and 2025, when it soared 125.27%.
• Clearwater Analytics Holdings' Cost of Revenue stood at $23.0 million in 2022, then grew by 23.34% to $28.3 million in 2023, then increased by 18.44% to $33.6 million in 2024, then jumped by 112.26% to $71.2 million in 2025, then advanced by 6.24% to $75.7 million in 2026.
• Business Quant data shows CWAN's Cost of Revenue at $75.7 million in Q1 2026, $71.2 million in Q4 2025, and $70.6 million in Q3 2025.