Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026)
Clearwater Analytics Holdings posted quarterly Gross Margin of 65.79% for Q1 2026, down 747.0% year-on-year from 10.17% in Q1 2025, and down 2.16% on a QoQ basis from 67.24% in Q4 2025.
Clearwater Analytics Holdings (CWAN) has 7 years of Gross Margin data on file, last reported at 65.79% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 747.0% year-over-year to 65.79%; the trailing twelve-month figure through Mar 2026 stood at 65.97% (down 698.0% YoY), and the FY2025 full-year result was 67.29%, down 549.0% from the prior year.
- Gross Margin for Q1 2026 stood at 65.79%, down from 67.24% in the prior quarter.
- Across five years, Gross Margin topped out at 73.46% in Q4 2024 and bottomed at 65.14% in Q2 2025.
- The 5-year median for Gross Margin is 71.38% (2023), against an average of 70.33%.
- The widest annual swing landed in 2024, when Gross Margin soared 208 bps; it then sank 747 bps in 2026.
- A 5-year view of Gross Margin shows it stood at 72.22% in 2022, then declined by 1 bps to 71.38% in 2023, then rose by 3 bps to 73.46% in 2024, then fell by 8 bps to 67.24% in 2025, then retreated by 2 bps to 65.79% in 2026.
- The last three Gross Margin figures came in at 65.79% (Q1 2026), 67.24% (Q4 2025), and 65.56% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 72.98% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 77.61% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 48.77% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 75.07% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 85.65% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 89.62% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | 48.28% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 79.05% |
| 10 | Clearwater Analytics Holdings | 7.17 Bn | 7.10 Bn | 145.55 Mn | 65.79% |
Historic Data
Download 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% |
| Mar 31, 2021 | 74.83% |
| Dec 31, 2020 | 74.35% |
| Sep 30, 2020 | 76.90% |