Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026)
Clearwater Analytics Holdings (CWAN) posted Gross Margin of 65.79% for Q1 2026, down 7.47 percentage points from 73.26% a year earlier and down 1.45 percentage points from the prior quarter.
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Analysis
Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026) Analysis & Trends
For the trailing twelve months through Mar 31, 2026, Gross Margin at Clearwater Analytics Holdings was 65.97%, down 6.98 percentage points year-over-year; for FY2025, it was 67.29%, down 5.49 percentage points from FY2024.
- Annual Gross Margin shows a five-year change of -6.50 percentage points (FY2020 to FY2025).
- In prior years, Clearwater Analytics Holdings' Gross Margin was 72.78% in FY2024 (+1.88 pp), 70.90% in FY2023 (-0.17 pp), 71.07% in FY2022 (-2.00 pp) and 73.07% in FY2021 (-0.72 pp).
- Quarterly Gross Margin has run from a low of 65.14% in Q2 2025 to a high of 74.41% in Q2 2021 over five years.
- On a year-over-year basis, Gross Margin has declined in each of the last four quarters, with an average year-over-year change of -2.71 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q4 2024, with a gain of 2.08 percentage points; the weakest was Q1 2026, with a drop of 7.47 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 67.24% (Q4 2025), 65.56% (Q3 2025) and 65.14% (Q2 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn | 84.66% |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - | - |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn | 73.17% |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn | 76.65% |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn | 70.68% |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn | 45.88% |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn | 79.10% |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - | - |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn | 66.64% |
| 10 | Clearwater Analytics Holdings | 7.30 Bn | 7.00 Bn | 145.55 Mn | 65.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Mar 31, 2026 | 65.79% |
| Dec 31, 2025 | 67.24% |
| Sep 30, 2025 | 65.56% |
| Jun 30, 2025 | 65.14% |
| Mar 31, 2025 | 73.26% |
| Dec 31, 2024 | 73.46% |
| Sep 30, 2024 | 72.93% |
| Jun 30, 2024 | 72.01% |
| Mar 31, 2024 | 72.57% |
| Dec 31, 2023 | 71.38% |
| Sep 30, 2023 | 71.46% |
| Jun 30, 2023 | 70.01% |
| Mar 31, 2023 | 70.66% |
| Dec 31, 2022 | 72.22% |
| Sep 30, 2022 | 70.32% |
| Jun 30, 2022 | 71.50% |
| Mar 31, 2022 | 70.09% |
| Dec 31, 2021 | 71.07% |
| Sep 30, 2021 | 72.42% |
| Jun 30, 2021 | 74.41% |
API Access
Clearwater Analytics Holdings Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=CWAN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CWAN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=CWAN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();