Equity Profile

CWAN

Clearwater Analytics Holdings, Inc.

Information TechnologyApplication Software$7.3B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Clearwater Analytics Holdings, Inc. (CWAN) provides cloud-based investment accounting and analytics solutions, helping organizations manage their investment portfolios effectively....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, showing how much profit is attributed to each share.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its business and capture market share, which is crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CWAN Q2-2026 Earnings Preview

Context

Company Snapshot

Clearwater Analytics Holdings, Inc. (CWAN) provides cloud-based investment accounting and analytics solutions, helping organizations manage their investment portfolios effectively. As part of the Information Technology sector, the company is positioned to benefit from trends in digital transformation and data analytics.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+217.07%

Avg Stock Reaction

+0.43%

Last Quarter Recap

In Q1-2026, Clearwater Analytics reported an EPS of $0.16, significantly exceeding expectations of $0.08, marking a 110.53% surprise. The stock reacted positively, gaining 0.12% the following day.

Management Promises & Guidance

Focus on enhancing product features to improve customer experience.
Commitment to expanding market reach through strategic partnerships.
Plans to invest in technology to drive operational efficiencies.

Expectations

Wall Street Expectations

Overall, expectations are mixed as Clearwater has consistently beaten EPS estimates in the past, but there are no specific analyst estimates for this quarter. Investors will be watching closely for any signs of revenue growth and customer retention.

Bull Case

If Clearwater continues its trend of beating EPS estimates, it could signal strong operational performance and growth potential, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could raise concerns about its growth trajectory and lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given the company's history of beating EPS estimates, this figure will be crucial in determining market sentiment and investor confidence.

How has customer retention changed this quarter?

Customer retention is vital for a subscription-based model, and any decline could signal potential revenue issues moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Clearwater's ability to sustain its growth trajectory despite economic headwinds, particularly given its strong historical performance.

Supporting Evidence

Clearwater has consistently beaten EPS estimates, indicating strong operational execution.

The options market is pricing a 5.96% move, suggesting that traders expect significant volatility, which may not align with the company's stable growth narrative.

The high customer retention rates reported in previous quarters may not be fully factored into current expectations.

Key Risk

If customer retention rates show a significant increase, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Clearwater can maintain its strong earnings performance amid competitive pressures and economic conditions.

Bull Confirmed If

An EPS of $0.20 or higher would confirm strong operational performance and growth potential.

Bear Confirmed If

An EPS below $0.10 would raise concerns about profitability and growth sustainability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.96%

Historical Avg

±1.4%

Pricing rich

The options market is pricing in a significant move of nearly 6%, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±6.0% while CWAN has averaged ±1.4% over the last 8 prints — setup is pricing rich.

Detail

30d HV

2.4%

Calls (1K)P/C Ratio: 1.74Puts (9K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Information Technology

n=30

Fade rate: 4 of 9 (44%)

This setup has occurred 30 times across Information Technology in the last 2 years. 4 of 9 faded and 5 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.4%, with a raw directional average of -0.5% (modestly negative historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Clearwater beats expectations, history suggests a positive stock reaction of around +0.43%, confirming the company's growth trajectory.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a negative reaction, with historical patterns suggesting a potential decline of around -0.35%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product features or enhancements.
2Insights into customer acquisition and retention strategies.
3Comments on market conditions and competitive landscape.
4Guidance on revenue expectations for the upcoming quarters.
5Discussion of any strategic partnerships or collaborations.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

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Company Snapshot

Clearwater Analytics Holdings, Inc. (CWAN) provides cloud-based investment accounting and analytics solutions, helping organizations manage their investment portfolios effectively....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, showing how much profit is attributed to each share.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its business and capture market share, which is crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

CWAN Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+217.07%

Avg Stock Reaction

+0.43%

Last Quarter Recap

In Q1-2026, Clearwater Analytics reported an EPS of $0.16, significantly exceeding expectations of $0.08, marking a 110.53% surprise. The stock reacted positively, gaining 0.12% the following day.

Management Promises & Guidance

Focus on enhancing product features to improve customer experience.
Commitment to expanding market reach through strategic partnerships.
Plans to invest in technology to drive operational efficiencies.

Expectations

Wall Street Expectations

Bull Case

If Clearwater continues its trend of beating EPS estimates, it could signal strong operational performance and growth potential, leading to a positive stock reaction.

Bear Case

Conversely, if the company fails to meet expectations or provides weak guidance, it could raise concerns about its growth trajectory and lead to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given the company's history of beating EPS estimates, this figure will be crucial in determining market sentiment and investor confidence.

How has customer retention changed this quarter?

Customer retention is vital for a subscription-based model, and any decline could signal potential revenue issues moving forward.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating Clearwater's ability to sustain its growth trajectory despite economic headwinds, particularly given its strong historical performance.

Supporting Evidence

Clearwater has consistently beaten EPS estimates, indicating strong operational execution.

The options market is pricing a 5.96% move, suggesting that traders expect significant volatility, which may not align with the company's stable growth narrative.

The high customer retention rates reported in previous quarters may not be fully factored into current expectations.

Key Risk

If customer retention rates show a significant increase, it could challenge the current cautious consensus.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The market is debating whether Clearwater can maintain its strong earnings performance amid competitive pressures and economic conditions.

Bull Confirmed If

An EPS of $0.20 or higher would confirm strong operational performance and growth potential.

Bear Confirmed If

An EPS below $0.10 would raise concerns about profitability and growth sustainability.

Pre-Earnings Positioning

Options Market

Implied Move

±5.96%

Historical Avg

±1.4%

Pricing rich

The options market is pricing in a significant move of nearly 6%, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±6.0% while CWAN has averaged ±1.4% over the last 8 prints — setup is pricing rich.

Detail

30d HV

2.4%

Calls (1K)P/C Ratio: 1.74Puts (9K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Information Technology

n=30

Fade rate: 4 of 9 (44%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Clearwater beats expectations, history suggests a positive stock reaction of around +0.43%, confirming the company's growth trajectory.

In-Line / Cautious

If results are in line with expectations, the stock may experience muted movement as investors await further guidance.

Miss

A miss could lead to a negative reaction, with historical patterns suggesting a potential decline of around -0.35%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new product features or enhancements.
2Insights into customer acquisition and retention strategies.
3Comments on market conditions and competitive landscape.
4Guidance on revenue expectations for the upcoming quarters.
5Discussion of any strategic partnerships or collaborations.