Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026)
Clearwater Analytics Holdings' (CWAN) quarterly Gross Margin came in at 65.79% in Q1 2026, down 747.0% YoY from 10.17% in Q1 2025, and down 2.16% on a QoQ basis from 67.24% in Q4 2025.
Clearwater Analytics Holdings (CWAN) Gross Margin (2020 - 2026) Analysis & Trends
Clearwater Analytics Holdings (CWAN) has 7 years of Gross Margin data on file, last reported at 65.79% in 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 fell to 65.79% in Q1 2026, from 67.24% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 73.46% in Q4 2024 to a low of 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 tumbled 747 bps.
- Tracing CWAN's Gross Margin over 5 years: 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 | 255.48 Bn | 234.41 Bn | 16.51 Bn | 73.08% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 47.67% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 76.92% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 44.93% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 70.68% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 66.61% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 45.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 89.20% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 84.61% |
| 10 | Clearwater Analytics Holdings | 7.30 Bn | 7.22 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% |