Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026)

Clearwater Analytics Holdings (CWAN) has reported Gross Margin for 7 consecutive years, with 65.79% the latest figure, recorded 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 eased to 65.79% in Q1 2026 per CWAN's latest filing, 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.
• Historically, Gross Margin has averaged 70.33% across 5 years, with a median of 71.38% in 2023.
• The sharpest annual moves came in 2024 and 2026: Gross Margin jumped 208 bps in 2024, then plunged 747 bps in 2026.
• Over 5 years, 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.
• According to Business Quant data, Gross Margin over the past three periods registered 65.79%, 67.24%, and 65.56% for Q1 2026, Q4 2025, and Q3 2025 respectively.