Clearwater Analytics Holdings (CWAN) Research & Development (2020 - 2026)
Clearwater Analytics Holdings' (CWAN) quarterly Research & Development came in at $46.2 million in Q1 2026, up 23.64% YoY from $37.4 million in Q1 2025, and up 0.84% on a QoQ basis from $45.9 million in Q4 2025.
Clearwater Analytics Holdings (CWAN) Research & Development (2020 - 2026) Analysis & Trends
Clearwater Analytics Holdings (CWAN) has 7 years of Research & Development data on file, last reported at $46.2 million in Q1 2026.
- Quarterly Research & Development rose 23.64% year-over-year to $46.2 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $175.8 million (up 64.18% YoY) and the FY2025 annual result came in at $149.2 million, up 121.82% from the prior year.
- Research & Development climbed to $46.2 million in Q1 2026, from $45.9 million in the prior quarter.
- In the past five years, Research & Development ranged from a high of $79.9 million in Q4 2023 to a low of $14.3 million in Q2 2023.
- A 5-year average of $35.3 million and a median of $36.6 million in 2024 frame the typical range for Research & Development.
- Annual changes were most pronounced in 2022 — Research & Development soared 195.3% — and 2024, when it plunged 77.61%.
- Tracing CWAN's Research & Development over 5 years: stood at $55.9 million in 2022, then soared by 42.98% to $79.9 million in 2023, then sank by 77.61% to $17.9 million in 2024, then soared by 156.4% to $45.9 million in 2025, then rose by 0.84% to $46.2 million in 2026.
- The last three Research & Development figures came in at $46.2 million (Q1 2026), $45.9 million (Q4 2025), and $44.5 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | -4.12 Bn |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 498.00 Mn |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 3.77 Bn |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 1.52 Bn |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 1.37 Bn |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 588.95 Mn |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 265.90 Mn |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 1.88 Bn |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 1.79 Bn |
| 10 | Clearwater Analytics Holdings | 7.30 Bn | 7.22 Bn | 145.55 Mn | 46.24 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 46.24 Mn |
| Dec 31, 2025 | 45.86 Mn |
| Sep 30, 2025 | 44.47 Mn |
| Jun 30, 2025 | 39.22 Mn |
| Mar 31, 2025 | 37.40 Mn |
| Dec 31, 2024 | 17.89 Mn |
| Sep 30, 2024 | 36.62 Mn |
| Jun 30, 2024 | 15.17 Mn |
| Mar 31, 2024 | 37.68 Mn |
| Dec 31, 2023 | 79.88 Mn |
| Sep 30, 2023 | 32.25 Mn |
| Jun 30, 2023 | 14.33 Mn |
| Mar 31, 2023 | 28.10 Mn |
| Dec 31, 2022 | 55.87 Mn |
| Sep 30, 2022 | 25.44 Mn |
| Jun 30, 2022 | 22.84 Mn |
| Mar 31, 2022 | 21.29 Mn |
| Dec 31, 2021 | 46.54 Mn |
| Sep 30, 2021 | 10.13 Mn |
| Jun 30, 2021 | 16.74 Mn |