CWAN at a glance
Clearwater Analytics Holdings, Inc. (CWAN, SEC CIK 1866368) filed its latest 10-K annual report on February 18, 2026, a 10-Q quarterly report on May 7, 2026, an 8-K current report on June 25, 2026 and Form 4 insider filings as recently as June 25, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Clearwater Analytics Holdings, Inc. (CWAN) reported revenue of $731.4 million (up 61.9% from FY2024) and a net loss of $38.8 million. Diluted EPS was -$0.14.
- As of March 31, 2026, 34 institutional investment managers tracked by SignalX reported holding Clearwater Analytics Holdings, Inc. (CWAN) shares worth $2.8 billion in 13F-HR filings.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $731.4M
- +61.9% vs prior year
- Insiders · 90 days
- 0 buys · 0 sells
- No open-market trades
- 13F holders
- 34 funds
- $2.8B · +4 vs prior quarter
- Latest 8-K
- Jun 25, 2026
- Item 1.01 · Item 3.03 · Item 2.01 · Item 1.02 · Item 2.03 · Item 5.03 · Item 7.01 · Item 5.02 · Item 5.01 · Item 2.04
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Cloud-based investment accounting and analytics platform for institutional investors
- New focus: Agreement to be acquired for $8.4 billion by investor group including Permira, Warburg Pincus, Temasek, Francisco Partners
- Strategic shift: Transition from public company to private ownership expected Q2 2026 post-merger
- Notable metric: Merger consideration of $24.55 cash per Class A common share offered to stockholders
- Unusual fact: Early HSR antitrust waiting period termination granted February 13, 2026, accelerating merger timeline
Risk Factors
- Regulatory risk from TRA Settlement Payments of $72.5 million gross plus $6.5 million third-party expenses in 2024
- Geopolitical/macroeconomic exposure via acquired entities increasing accounts receivable by $11.1 million in 2025
- Operational vulnerability due to $1,074.8 million acquisitions of Enfusion and Beacon in 2025 increasing capital outlay
- Competitive risk from acquisitions of Wilshire Technology (2024) and Enfusion/Beacon (2025) signaling market consolidation moves
- Financial risk from $924.5 million borrowings in 2025 partially offset by $154.1 million debt repayment, indicating high leverage
Management Discussion & Analysis
- Revenue not explicitly stated, no YoY change or dollar amounts disclosed in MD&A
- No profitability or margin percentages provided in the discussion
- No cash flow, buybacks, dividends, or capex details mentioned
- Merger announced valued at ~$8.4B, $24.55/share cash consideration, expected close Q2 2026, pending regulatory and stockholder approvals
AI summary of the CWAN 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Mar 31, 2026
Management Discussion & Analysis
- Proposed merger agreement signed December 20, 2025 with Investor Group
- Platform assets exceeding $10 trillion across more than 2,500 clients as of December 31, 2025
- Gross revenue retention at least 98% in 27 of the last 29 quarters
Risk Factors
- No material changes to Annual Report risk factors
- Non-GAAP reporting accuracy risk, potentially undermining investor confidence and Class A stock price
- Merger agreement dated December 20, 2025, introduces transaction-execution exposure
- Credit Agreement dated April 21, 2025, represents ongoing financing exposure
AI summary of the CWAN 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 1.01: Entry into a Material Definitive Agreement
- Existing credit agreement debt fully repaid on June 25, 2026, in connection with the merger
- All borrowing commitments under the agreement terminated
Item 3.03: Material Modification to Rights of Security Holders
- Merger completed, triggering a change of control and making Clearwater Analytics a wholly owned subsidiary of Parent
- Equityholders received approximately $7.4 billion in total cash consideration
Item 2.01: Completion of Acquisition or Disposition of Assets
- No Item 2.01 acquisition or disposition details provided in the excerpt
- Text instead references Item 2.03 financial obligations and the Introductory Note
Item 1.02: Termination of a Material Definitive Agreement
- Clearwater Analytics completed its acquisition by Parent and became a wholly owned subsidiary
- Shareholders received $24.55 cash per Class A share, excluding holders exercising appraisal rights
Item 2.03: Creation of a Direct Financial Obligation
- Item 2.03 references the Introductory Note for details on an event affecting Clearwater Analytics’ direct financial obligations
- Investors should review the Introductory Note to determine the obligation’s amount, terms, and potential balance-sheet impact
Item 5.03: Amendments to Articles of Incorporation or Bylaws
- Joint press release announced consummation of Clearwater Analytics’ merger with the Consortium
- Merger completion marks a transition from announced transaction to closed ownership event
Item 7.01: Regulation FD Disclosure
- Item 7.01 contains only standard Regulation FD filing-status language
- No substantive business, financial, or investor-relevant disclosure appears in the provided text
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Merger closing triggered complete restatement of CWAN’s certificate of incorporation and bylaws effective June 25, 2026
- Updated governing documents may alter shareholder rights, board governance, and merger-related corporate procedures
Item 5.01: Changes in Control of Registrant
- Merger completion triggered wholesale Board turnover, indicating Clearwater is now under new ownership control
- Former directors resigned; Peter Flynn and Thomas Lafrance joined the Board from Merger Sub
Item 2.04: Triggering Events That Accelerate or Increase a Direct Financial Obligation
- Merger completed June 25, 2026, triggering suspension and removal of Clearwater Class A shares from NYSE trading
- NYSE Form 25 requested to delist and deregister Class A common stock under Exchange Act Section 12(b)
Item EX-99.1: Item EX-99.1
- $8.4B take-private acquisition completed by Permira and Warburg Pincus, supported by Francisco Partners and Temasek
- Stockholders received $24.55 per share in cash, approximately 47% above the November 10, 2025 undisturbed price
Item 7.01: Regulation FD Disclosure
- Disclosure contains no new operating or financial metrics; primarily a legal safe-harbor notice
- Proposed Transaction remains subject to timing, closing conditions, termination rights and potential termination fees
Item 2.02: Results of Operations and Financial Condition
- Q1 2026 results for quarter ended March 31, 2026 released May 7, 2026
- Detailed financial results and outlook contained in Exhibit 99.1 press release
AI summaries of CWAN 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for CWAN
Don't miss the next CWAN filing
- Alerts as it files. A push when CWAN files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut CWAN, by share count.
- Ask anything. An AI agent that reads every CWAN filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| AIGRAIN JACQUES | D | Jun 25, 2026 | 15,339 | $24.55 |
| AIGRAIN JACQUES | D | Jun 25, 2026 | 48,387 | $12.15 |
| Aghi Mukesh | D | Jun 25, 2026 | 15,339 | $24.55 |
| Hooper Christopher | M | Jun 25, 2026 | 136,573 | - |
| AIGRAIN JACQUES | D | Jun 25, 2026 | 20,481 | $24.55 |
| NieuweWeme Bas | D | Jun 25, 2026 | 16,713 | $24.55 |
| Lee Eric J. | M | Jun 25, 2026 | 220,137 | - |
| Lee Eric J. | M | Jun 25, 2026 | 220,137 | - |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $451.8M | $731.4M |
| Gross Profit | - | $328.8M | $492.1M |
| Operating Income | - | $12.2M | -$7.7M |
| Net Income | - | $424.4M | -$38.8M |
| Gross Margin | - | 72.8% | 67.3% |
| Op. Margin | - | 2.7% | -1.1% |
| Net Margin | - | 93.9% | -5.3% |
| Balance Sheet | |||
| Total Assets | $558.7M | $1.2B | $3.0B |
| Equity | - | $1.0B | $2.0B |
| ROE | - | 42.1% | -1.9% |
| Per Share | |||
| EPS | - | $1.68 | $-0.14 |
| Cash Flow | |||
| Operating CF | - | $74.3M | $175.9M |
| CapEx | $5.6M | $5.3M | $11.6M |
Source: XBRL data in Clearwater Analytics Holdings, Inc. (CWAN)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q1 2026Aggregate CWAN share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q1 2026 | 34 | $2.78B |
| Q4 2025 | 30 | $3.14B |
| Q3 2025 | 31 | $2.15B |
| Q2 2025 | 34 | $2.39B |
| Q1 2025 | 30 | $1.85B |
| Q4 2024 | 25 | $1.30B |
| Q3 2024 | 21 | $341.4M |
- Millennium Management+6.91M (+291%)
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- BlackRock+2.04M (+8%)
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- FMR LLC (Fidelity)+722.7K (+4220%)
- T. Rowe Price Group−13.37M (-97%)
- Morgan Stanley−5.31M (-68%)
- Starboard Value LP−4.50M (-45%)
- Principal Financial Group−2.51M (-99%)
- Raymond James Financial−1.90M (-97%)
- Vanguard Portfolio Management LLC+18.29M
- Vanguard Capital Management LLC+13.10M
- Franklin Resources+500.1K
- Mangrove Partners+85.0K
- Allstate+63.4K
- Vanguard Group Inc−33.31M
Source: 13F-HR filings on SEC EDGAR (aggregated from 205 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
CWAN filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
8-K current reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| SC 13G | Jul 1, 2026 | - | - | |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 4 | Jun 25, 2026 | - | - | - |
| 8-K | Jun 25, 2026 | - | Analysis | - |
| 4 | Jun 25, 2026 | - | - | - |
| 8-K | Jun 22, 2026 | - | Analysis | - |
| 4 | Jun 17, 2026 | - | - | - |
| 4 | Jun 16, 2026 | - | - | - |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 1, 2026 | - | - | |
| 4 | May 11, 2026 | - | - | |
| 8-K | May 7, 2026 | - | Analysis | |
| 10-Q | May 7, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | May 7, 2026 | - | Analysis | |
| SC 13G | Apr 29, 2026 | - | - | |
| SC 13G | Apr 29, 2026 | - | - | |
| 4 | Apr 16, 2026 | - | - | - |
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CWAN SEC filings: frequently asked questions
Which institutions hold CWAN stock?
As of March 31, 2026, the largest Clearwater Analytics Holdings, Inc. (CWAN) holders among the 13F filers tracked by SignalX were BlackRock ($668.6 million), Vanguard Portfolio Management LLC ($432.6 million), Vanguard Capital Management LLC ($309.8 million), Millennium Management ($219.8 million), Citadel Advisors LLC ($199.6 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was CWAN's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Clearwater Analytics Holdings, Inc. (CWAN) reported revenue of $731.4 million (up 61.9% from FY2024) and a net loss of $38.8 million. Diluted EPS was -$0.14. The figures come from the XBRL data in the 10-K.
What are the main risks in CWAN's latest 10-K?
In the 10-K filed February 18, 2026, Clearwater Analytics Holdings, Inc. (CWAN) flagged: Regulatory risk from TRA Settlement Payments of $72.5 million gross plus $6.5 million third-party expenses in 2024. Geopolitical/macroeconomic exposure via acquired entities increasing accounts receivable by $11.1 million in 2025. (AI summary of the Risk Factors section.)
What did CWAN report in its latest 8-K?
Clearwater Analytics Holdings, Inc. (CWAN) filed an 8-K on June 25, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 3.03 (Material Modification to Rights of Security Holders), Item 2.01 (Completion of Acquisition or Disposition of Assets), Item 1.02 (Termination of a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item 5.03 (Amendments to Articles of Incorporation or Bylaws), Item 7.01 (Regulation FD Disclosure), Item 5.02 (Departure/Appointment of Directors or Principal Officers), Item 5.01 (Changes in Control of Registrant) and Item 2.04 (Triggering Events That Accelerate or Increase a Direct Financial Obligation). Existing credit agreement debt fully repaid on June 25, 2026, in connection with the merger.
What are the latest CWAN SEC filings?
Clearwater Analytics Holdings, Inc. (CWAN) filed its latest 10-K annual report on February 18, 2026, a 10-Q quarterly report on May 7, 2026, an 8-K current report on June 25, 2026 and a Form 4 insider filing on June 25, 2026.
What is CWAN's SEC CIK number?
Clearwater Analytics Holdings, Inc. (CWAN)'s SEC Central Index Key (CIK) is 1866368. EDGAR lists every CWAN filing under that number.
Ask anything about CWAN
The research agent reads CWAN's filings, financials, insider trades and 13F holders, then answers with sources.