Quick Answer
Clearwater Analytics Holdings, Inc. reported R&D Expense of $196.23 million for fiscal year 2025.
Clearwater Analytics Holdings, Inc. R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $196.23M | +30.3% |
| 2024 | $150.56M | +21.5% |
| 2023 | $123.92M | +31.7% |
| 2022 | $94.12M | +29.5% |
| 2021 | $72.69M | +31.5% |
| 2020 | $55.26M | +40.7% |
| 2019 | $39.27M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $52.06M | +42.2% | +4.6% |
| June 30, 2025 | $49.76M | +40.7% | +33.0% |
| March 31, 2025 | $37.40M | -0.7% | +2.1% |
| September 30, 2024 | $36.62M | +13.5% | +3.6% |
| June 30, 2024 | $35.36M | +18.5% | -6.1% |
| March 31, 2024 | $37.68M | +34.1% | +16.8% |
| September 30, 2023 | $32.25M | +26.8% | +8.0% |
| June 30, 2023 | $29.85M | +30.7% | +6.2% |
- Clearwater Analytics Holdings, Inc. showed an increase of +30.3% in R&D Expense compared to the prior fiscal year.
- Over the 2019–2025 period, Clearwater Analytics Holdings, Inc.’s r&d expense has grown by 399.6% (from $39.27 million to $196.23 million).
- The most recent figure is from Clearwater Analytics Holdings, Inc.’s fiscal year 2025 report (Form 10-K), filed with the SEC on February 18, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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