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

Clearwater Analytics Holdings has reported Operating Expenses for 7 years, with the latest figure 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.
• The five-year high for Operating Expenses was $153.0 million in Q4 2025, with the low at $48.3 million in Q1 2022.
• Historically, Operating Expenses has averaged $84.8 million across 5 years, with a median of $73.5 million in 2023.
• Annual changes were most pronounced in 2024 — Operating Expenses increased 4.29% — and 2025, when it surged 82.18%.
• Clearwater Analytics Holdings' Operating Expenses stood at $55.8 million in 2022, then rose by 21.95% to $68.1 million in 2023, then soared by 34.65% to $91.7 million in 2024, then surged by 66.83% to $153.0 million in 2025, then slipped 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.