Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026)
Clearwater Analytics Holdings (CWAN) posted Gross Margin of 65.79% for Q1 2026, down 2.16% on a QoQ basis from 67.24% in Q4 2025, and down 747.0% year-over-year from 10.17% in Q1 2025.
Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026) Analysis & Trends
Clearwater Analytics Holdings' Gross Margin history runs 7 years deep, the most recent figure standing at 65.79% for Q1 2026.
- Quarterly Gross Margin fell 747.0% year-over-year to 65.79% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 65.97% (down 698.0% YoY) and the FY2025 annual result came in at 67.29%, down 549.0% from the prior year.
- Gross Margin was 65.79% for Q1 2026 at Clearwater Analytics Holdings, 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.
- A 5-year average of 70.33% and a median of 71.38% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2024 — Gross Margin soared 208 bps — and 2026, when it slumped 747 bps.
- Clearwater Analytics Holdings' Gross Margin stood at 72.22% in 2022, then fell by 1 bps to 71.38% in 2023, then gained by 3 bps to 73.46% in 2024, then retreated by 8 bps to 67.24% in 2025, then decreased by 2 bps to 65.79% in 2026.
- Business Quant data shows CWAN's Gross Margin at 65.79% in Q1 2026, 67.24% in Q4 2025, and 65.56% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 48.77% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 45.03% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 76.92% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 70.68% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 48.28% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | 66.61% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 95.85% |
| 10 | Clearwater Analytics Holdings | 7.24 Bn | 7.17 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% |