Equity Profile

CWAN

Clearwater Analytics Holdings, Inc.

Information TechnologyApplication Software$7.2B

Aug5Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Clearwater Analytics Holdings, Inc. (CWAN) operates in the Information Technology sector, focusing on application software that helps businesses manage their investment portfolios....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well Clearwater is managing its costs and revenue.

N/A

Revenue Growth

Revenue growth will indicate how well Clearwater is expanding its customer base and market share in a competitive environment.

N/A

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) operates in the Information Technology sector, focusing on application software that helps businesses manage their investment portfolios. As companies increasingly rely on data analytics and cloud-based solutions, Clearwater's services are becoming more essential for effective financial management.

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 reported an EPS of $0.16, significantly beating expectations by 110.53%. The stock saw a slight increase of 0.12% the following day, reflecting positive market sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for Clearwater's upcoming earnings are cautious, given the lack of analyst estimates and management guidance. Investors will be closely watching for any signs of continued profitability and growth.

Bull Case

If Clearwater continues its trend of beating EPS estimates, it could signal strong operational efficiency and market demand, leading to a positive stock reaction.

Bear Case

On the other hand, any signs of slowing revenue growth or missed expectations could lead to a negative reaction, especially given the lack of recent guidance.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given Clearwater's history of beating EPS estimates, this will be a critical factor in determining market sentiment post-earnings.

How is revenue growth trending compared to previous quarters?

Investors will be looking for indications of whether Clearwater can maintain its growth trajectory in a competitive landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

The market may be underestimating Clearwater's ability to maintain its growth trajectory despite economic headwinds. Historical performance suggests that the company has consistently outperformed expectations.

Supporting Evidence

Clearwater has a 100% EPS beat rate over the last several quarters, indicating strong operational performance.

The options market is pricing a move of nearly 6%, which may be excessive given the company's historical volatility.

Key Risk

If Clearwater reports an EPS significantly above $0.16, it could challenge the cautious market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Clearwater's ability to sustain its growth and profitability amid market challenges.

Bull Confirmed If

An EPS of $0.18 or higher would confirm the bull case and suggest strong operational performance.

Bear Confirmed If

An EPS below $0.12 would confirm the bear case and raise concerns about profitability.

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).

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$690,238.42

28,700 sh

2 insiders

Net

$690,238.42

Net selling

Most Active Insiders· 5 open-market trades

Chief Financial OfficerCox James S
$450,118.42

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Clearwater beats expectations, history suggests the stock could rise by approximately 0.43%, confirming strong operational momentum.

In-Line / Cautious

If results are in line but cautious, the stock may see muted reactions as investors digest management's commentary.

Miss

If Clearwater misses expectations, history suggests a potential decline in stock price, with an average move of -0.35% following misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new client acquisitions or partnerships.
2Insights into cost management strategies and their impact on margins.
3Comments on market conditions affecting demand for Clearwater's services.
4Guidance on revenue expectations for the next quarter.
5Any commentary on competitive pressures within the application software sector.

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Company Snapshot

Clearwater Analytics Holdings, Inc. (CWAN) operates in the Information Technology sector, focusing on application software that helps businesses manage their investment portfolios....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well Clearwater is managing its costs and revenue.

N/A

Revenue Growth

Revenue growth will indicate how well Clearwater is expanding its customer base and market share in a competitive environment.

N/A

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 reported an EPS of $0.16, significantly beating expectations by 110.53%. The stock saw a slight increase of 0.12% the following day, reflecting positive market sentiment.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If Clearwater continues its trend of beating EPS estimates, it could signal strong operational efficiency and market demand, leading to a positive stock reaction.

Bear Case

On the other hand, any signs of slowing revenue growth or missed expectations could lead to a negative reaction, especially given the lack of recent guidance.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the EPS for Q2-2026?

Given Clearwater's history of beating EPS estimates, this will be a critical factor in determining market sentiment post-earnings.

How is revenue growth trending compared to previous quarters?

Investors will be looking for indications of whether Clearwater can maintain its growth trajectory in a competitive landscape.

Edge

What the Street Is Missing

Why consensus could be wrong

Supporting Evidence

Clearwater has a 100% EPS beat rate over the last several quarters, indicating strong operational performance.

The options market is pricing a move of nearly 6%, which may be excessive given the company's historical volatility.

Key Risk

If Clearwater reports an EPS significantly above $0.16, it could challenge the cautious market sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance will hinge on Clearwater's ability to sustain its growth and profitability amid market challenges.

Bull Confirmed If

An EPS of $0.18 or higher would confirm the bull case and suggest strong operational performance.

Bear Confirmed If

An EPS below $0.12 would confirm the bear case and raise concerns about profitability.

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%)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$690,238.42

28,700 sh

2 insiders

Net

$690,238.42

Net selling

Most Active Insiders· 5 open-market trades

Chief Financial OfficerCox James S
$450,118.42

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Clearwater beats expectations, history suggests the stock could rise by approximately 0.43%, confirming strong operational momentum.

In-Line / Cautious

If results are in line but cautious, the stock may see muted reactions as investors digest management's commentary.

Miss

If Clearwater misses expectations, history suggests a potential decline in stock price, with an average move of -0.35% following misses.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on new client acquisitions or partnerships.
2Insights into cost management strategies and their impact on margins.
3Comments on market conditions affecting demand for Clearwater's services.
4Guidance on revenue expectations for the next quarter.
5Any commentary on competitive pressures within the application software sector.