Company / R&D Expense
Clearwater Analytics Holdings, Inc. R&D Expense History
FY2019-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$196.2M
FY2025
5-year range
$72.7M / $196.2M
FY2021-FY2025
Trend
+30.3%
vs FY2024
Sector context
#122 of 262
Information Technology
What the data says
At $196M, Clearwater Analytics Holdings, Inc.'s r&d expense ranks #122 of 262 in the Information Technology sector. R&D Expense has increased for 6 consecutive years, from $39M in FY2019 to $196M in FY2025.
Based on SEC 10-K filings.
$196M in FY2025 with a 5-year CAGR of +28.8%.
Improved from $124M to $196M over the past 2 years.
Information Technology sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- +27.7%
- 5-Year CAGR
- +28.8%
- 10-Year CAGR
- -
Sector benchmark
#122 of 262 in Information TechnologyTop 47% of 262This company $196.2M Sector average $927.8M
▼
-78.9% below sector average
Key checks
Key Insights
- Clearwater Analytics Holdings, Inc.'s r&d expense has grown for 6 consecutive years.
- 5-year CAGR of +28.8%, indicating consistent growth.
- In FY2025, r&d expense increased 30.3% year-over-year.
- Ranks #122 out of 262 companies in the Information Technology sector.
Company context
Key Data Points
- Low Piotroski F-Score: 2/9 (multiple financial health concerns)
- Altman Z-Score 1.18 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $196.2M | +30.3% |
| FY2024 | $150.6M | +21.5% |
| FY2023 | $123.9M | +31.7% |
| FY2022 | $94.1M | +29.5% |
| FY2021 | $72.7M | +31.5% |
| FY2020 | $55.3M | +40.7% |
| FY2019 | $39.3M | - |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026