Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026)
Clearwater Analytics Holdings (CWAN) reported Gross Margin of 65.79% for Q1 2026, down 747.0% on a YoY basis from 10.17% in Q1 2025, and down 2.16% quarter-over-quarter from 67.24% in Q4 2025.
Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026) Analysis & Trends
Clearwater Analytics Holdings has reported Gross Margin for 7 years, with the latest figure 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.
- The five-year high for Gross Margin was 73.46% in Q4 2024, with the low at 65.14% in Q2 2025.
- Historically, Gross Margin has averaged 70.33% across 5 years, with a median of 71.38% in 2023.
- Annual changes were most pronounced in 2024 — Gross Margin soared 208 bps — and 2026, when it tumbled 747 bps.
- Clearwater Analytics Holdings' Gross Margin stood at 72.22% in 2022, then dropped by 1 bps to 71.38% in 2023, then increased by 3 bps to 73.46% in 2024, then declined by 8 bps to 67.24% in 2025, then fell 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Clearwater Analytics Holdings | 7.15 Bn | 7.07 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% |