Clearwater Analytics (US:CWAN) The Motley Fool·2026-02-16 21:14Company Overview - Clearwater Analytics Holdings, Inc. is a technology-driven provider of investment accounting and analytics software, utilizing a scalable SaaS platform to deliver critical solutions for institutional asset owners and managers [6] - The company operates a subscription-based business model, generating recurring revenue by providing cloud-based software and analytics services to institutional clients, including insurers, investment managers, corporations, institutional investors, and government entities [9] Financial Performance - As of February 12, 2026, Clearwater Analytics had a market capitalization of $6.78 billion and reported a revenue of $451.80 million with a net income of $424.38 million for the trailing twelve months [4] - In the third quarter, the company experienced a revenue increase of 77% year over year, reaching $205.1 million, while adjusted EBITDA rose 84% to $70.7 million, and annualized recurring revenue reached $807.5 million with a net revenue retention rate of 108% [10] Recent Developments - Keenan Capital initiated a new position in Clearwater Analytics by purchasing 3,660,973 shares valued at approximately $88.30 million during the fourth quarter, which now represents 16.08% of Keenan Capital's reportable U.S. equity AUM as of December 31, 2025 [2][8] - Clearwater Analytics agreed to be acquired in an $8.4 billion deal in December, raising questions about the timing of the share accumulation by Keenan Capital [11] Market Position - As of February 12, 2026, shares of Clearwater Analytics were priced at $23.47, reflecting a decline of 14.5% over the past year and underperforming the S&P 500 by 27.43 percentage points [8]