---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-006359"
form_type: "8-K"
ticker: "CWAN"
cik: "0001866368"
company_name: "Clearwater Analytics Holdings, Inc."
filed_at: "2025-02-19T23:59:59+00:00"
generated_at: "2026-05-26T12:30:25.516886+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Clearwater Q4 revenue $126.5M (+27.7% YoY); guides FY2025 rev $535.5-542M; $1.5B Enfusion deal noted

## Summary
- Q4 revenue $126.5M (+27.7% YoY); ARR $474.9M (+25.3% YoY); net income $420.3M includes $472M one-time tax benefit from DTA release.
- Q4 Adj EBITDA $41.7M (+39% YoY), margin 33.0% (+270 bps); FY2024 Adj EBITDA $145.7M, margin 32.2%.
- Net revenue retention rate 116% (vs 107% a year ago); clients 1,462, including 100 with >$1M ARR.
- Guidance: Q1 2025 rev ~$125M, Adj EBITDA ~$41.5M; FY2025 rev $535.5-542M (19-20% growth), Adj EBITDA $182-185M (~34% margin).
- Recent highlight: announced $1.5B acquisition of Enfusion on Jan 13, 2025, to create front-to-back investment management platform.

## SEC filing metadata
- accession: 0001628280-25-006359
- form_type: 8-K
- ticker: CWAN
- cik: 0001866368
- company_name: Clearwater Analytics Holdings, Inc.
- filed_at: 2025-02-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866368/000162828025006359/0001628280-25-006359-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866368/000162828025006359/cwan-20250219.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-006359
- JSON: https://secwatch.observer/filing/0001628280-25-006359.json
- Plain text: https://secwatch.observer/filing/0001628280-25-006359.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.