Clearwater Analytics Holdings, Inc. Class A ( (CWAN) ) has released its Q3 earnings. Here is a breakdown of the information Clearwater Analytics Holdings, Inc. Class A presented to its investors.
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Clearwater Analytics Holdings, Inc., operating in the investment management technology sector, offers a comprehensive cloud-native platform for institutional investors, integrating various investment processes into a unified system. In its third quarter of 2025, Clearwater Analytics reported a significant revenue increase of 77% year-over-year, reaching $205.1 million. The company also achieved an adjusted EBITDA of $70.7 million, marking an 84% increase from the previous year, and utilized strong operating cash flows to repay $40 million of debt.
Key financial metrics for the quarter include a gross profit of $134.5 million and a non-GAAP gross margin of 78.5%. Despite a net loss of $10.5 million, the company reported a non-GAAP net income of $40.6 million, reflecting a 31.2% increase. The annualized recurring revenue saw a 77% rise, reaching $807.5 million, with a gross revenue retention rate of 98% and a net revenue retention rate of 108%.
Strategically, Clearwater Analytics has expanded its capabilities, particularly in the private credit market, and secured notable partnerships, including with J.P. Morgan Asset Management and T. Rowe Price. The company also announced a $100 million share buyback program and highlighted its role in managing significant portfolios for various global clients.
Looking ahead, Clearwater Analytics projects continued growth, with fourth-quarter revenue expected to rise by 71% to 72% year-over-year. The company aims to maintain its momentum in leveraging AI-driven insights and expanding its platform’s reach across global markets.