Clearwater Analytics Holdings (CWAN) Operating Expenses (2020 - 2026)

Clearwater Analytics Holdings (CWAN) has 7 years of Operating Expenses data on file, last reported at $136.6 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses rose 59.05% year-over-year to $136.6 million; the trailing twelve-month figure through Mar 2026 stood at $550.5 million (up 67.98% YoY), and the FY2025 full-year result was $499.8 million, up 57.88% from the prior year.
• Operating Expenses for Q1 2026 stood at $136.6 million, down from $153.0 million in the prior quarter.
• Across five years, Operating Expenses topped out at $153.0 million in Q4 2025 and bottomed at $48.3 million in Q1 2022.
• The 5-year median for Operating Expenses is $73.5 million (2023), against an average of $84.8 million.
• The widest annual swing landed in 2024, when Operating Expenses increased 4.29%; it then surged 82.18% in 2025.
• A 5-year view of Operating Expenses shows it stood at $55.8 million in 2022, then gained by 21.95% to $68.1 million in 2023, then jumped by 34.65% to $91.7 million in 2024, then soared by 66.83% to $153.0 million in 2025, then dropped by 10.73% to $136.6 million in 2026.
• The last three Operating Expenses figures came in at $136.6 million (Q1 2026), $153.0 million (Q4 2025), and $127.9 million (Q3 2025), per Business Quant data.

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