Clearwater Analytics Holdings, Inc.CWANNYSE

Revenue (LTM)

$731M

+61.9% YoY

Net Income (LTM)

$-39M

-109.1% YoY

Free Cash Flow

$164M

Revenue CAGR (5Y)

+29.2%

—Marginsstable

FCF$0.2B

Now unprofitable

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	252	303↑20.4%	368↑21.3%	452↑22.7%	731↑61.9%
Gross Profit	184	216↑17.1%	261↑21.1%	329↑26.0%	492↑49.7%
Operating Income	28	5↓82.0%	-17↓427.2%	12↑173.1%	28↑129.6%
Net Income	-8	-8↑3.0%	-22↓171.5%	424↑2062.3%	-39↓109.1%
EBITDA	32	10↓67.9%	-7↓166.5%	24↑458.2%	114↑365.4%
EPS Diluted	-0.05	-0.04↑20.7%	-0.11↓204.7%	1.68↑1627.3%	-0.14↓108.3%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	255	251↓1.5%	222↓11.6%	177↓20.0%	91↓48.6%
Total Current Assets	321	356↑10.9%	416↑16.7%	385↓7.5%	296↓23.2%
Total Assets	344	482↑40.0%	559↑15.9%	1,170↑109.3%	3,032↑159.2%
Total Current Liabilities	31	66↑111.6%	81↑22.4%	77↓4.6%	161↑109.4%
Total Liabilities	82	144↑74.0%	149↑3.9%	139↓6.5%	1,001↑618.3%
Total Equity	197	270↑36.9%	354↑31.5%	1,008↑184.6%	2,022↑100.5%
Total Debt	54	77↑42.1%	72↓5.9%	72↓0.2%	883↑1127.6%
Net Debt	-201	-174↑13.2%	-150↑14.0%	-105↑29.6%	792↑850.9%

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	3	58↑1627.4%	85↑45.9%	74↓12.2%	176↑136.7%
Capital Expenditure	-5	-8↓54.4%	-6↑27.5%	-5↑6.5%	-12↓119.7%
Free Cash Flow	-2	50↑3114.2%	79↑57.2%	69↓12.6%	164↑138.0%
Stock-Based Comp	37	66↑79.0%	104↑59.0%	103↓1.2%	128↑23.9%
Net Change in Cash	194	-4↓102.0%	-29↓647.7%	-44↓53.4%	-86↓93.9%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

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