---
title: "Clearwater Analytics | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 221.23 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285617524.md"
datetime: "2026-05-07T20:52:58.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285617524.md)
  - [en](https://longbridge.com/en/news/285617524.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285617524.md)
---

# Clearwater Analytics | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 221.23 M

Revenue: As of FY2026 Q1, the actual value is USD 221.23 M, beating the estimate of USD 216.35 M.

EPS: As of FY2026 Q1, the actual value is USD -0.01, beating the estimate of USD -0.0269.

#### Revenue

Clearwater Analytics Holdings, Inc. reported total revenue of $221.2 million for the first quarter of 2026, which is a 74% increase from $126.9 million in the first quarter of 2025.

#### Gross Profit and Margin

GAAP gross profit for the first quarter of 2026 increased to $145.5 million, representing a 65.8% GAAP gross margin, compared to $92.9 million and a 73.3% GAAP gross margin in the first quarter of 2025.Non-GAAP gross profit for the first quarter of 2026 was $172.7 million, a 73% year-over-year increase, equating to a 78.1% non-GAAP gross margin, compared to $100.1 million and a 78.9% non-GAAP gross margin in the first quarter of 2025.

#### Net Income/(Loss)

Clearwater Analytics Holdings, Inc. reported a GAAP net loss of -$2.8 million for the first quarter of 2026, compared with a net income of $6.5 million in the first quarter of 2025.Non-GAAP net income for the first quarter of 2026 increased to $48.6 million, a 39.5% increase from $34.9 million in the first quarter of 2025.

#### Adjusted EBITDA

Adjusted EBITDA for the first quarter of 2026 was $77.4 million, a 72% increase from $45.1 million in the first quarter of 2025. The Adjusted EBITDA margin for the first quarter of 2026 was 35.0%.

#### Operating Expenses

Research and development expenses were $57.1 million in Q1 2026, up from $37.4 million in Q1 2025.Sales and marketing expenses were $46.2 million in Q1 2026, up from $19.6 million in Q1 2025.General and administrative expenses were $33.3 million in Q1 2026, up from $28.8 million in Q1 2025.Total operating expenses for Q1 2026 were $136.6 million, compared to $85.9 million in Q1 2025.

#### Operating Profit

Income from operations was $9.0 million in Q1 2026, compared to $7.1 million in Q1 2025.

#### Cash Flow

Operating cash flows for the first quarter of 2026 were $17.7 million, compared to $24.5 million in Q1 2025.Free cash flows for the first quarter of 2026 were $11.2 million, compared to $23.0 million in Q1 2025.

#### Key Financial Position Metrics

As of March 31, 2026, cash and cash equivalents were $81.5 million. Total debt, net of debt issuance cost, was $806.4 million.

#### Unique Operational Metrics

Annualized Recurring Revenue (ARR) reached $872 million as of March 31, 2026, an increase of 77% from $494 million as of March 31, 2025.The gross revenue retention rate was 97% as of March 31, 2026.The net revenue retention rate was 108% as of March 31, 2026.

#### Outlook / Guidance

Clearwater Analytics Holdings, Inc. will not host an earnings conference call or webcast to discuss its first quarter 2026 financial results. The company will also not provide forward-looking guidance due to the definitive agreement for its acquisition by an investor group.

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