Clearwater Analytics Holdings, Inc. CWAN

The most recent public trail for Clearwater Analytics Holdings, Inc. (CWAN) is not a product launch but a cluster of insider filing trail: Form 4 statements filed on 9, 16 and 17 June 2026 and Form 144 notices of proposed sale on 8 and 15 June 2026, all lodged on SEC EDGAR. These document insider transactions and intentions to sell restricted stock; they prove activity, not price or motive.

Clearwater runs a software platform that asset managers use to account for, report on, and analyse their investment portfolios. Its filed pricing rests on the scale and complexity of assets managed on the platform, the number of users, data connections, market data, and managed services. On 30 April 2025 it completed its acquisition of Beacon Platform Inc., described in the 10-Q as a cross-asset modeling and risk analytics provider for derivatives, private credit and debt, and structured products, extending the firm beyond straightforward bond accounting.

The numbers come from the 10-Q for the period ending 31 March 2026. Revenue from contracts with customers was $221.2m. Operating income was $9.0m, yet net loss attributable to the parent was $2.8m, leaving diluted earnings per share at minus one cent across 295.0m diluted shares. Research and development expense was $57.0m. Net cash provided by operating activities was $17.7m against $6.4m of property and equipment purchases. The balance sheet showed $3.03bn of assets, $972.3m of liabilities, $2.05bn of stockholders' equity, $81.5m of cash and equivalents, and no short-term investments.

No chart route is supplied in this evidence pack, so there are no price levels to cite here. The market mechanism that matters for this business is simpler than a candle chart: fees scale with the value and complexity of client assets sitting on the platform, which the company tracks through a net revenue retention rate that measures spend from existing clients over twelve months. The 10-Q defines that metric but the supplied facts do not contain its value.

What changed in the latest window is mostly disclosure and ownership housekeeping: a Q1 2026 results press release filed via 8-K on 7 May 2026, followed by the June run of insider Form 4 and Form 144 filings. What remains unproven from this rail is the quality of growth: the net revenue retention figure, the contribution of Beacon since the April 2025 close, and the below-the-operating-line costs that turned a $9.0m operating profit into a net loss. Segment detail and the retention number from a future filing would deepen the file.