cust.co / Compare / Q2 Holdings vs Clearwater Analytics

Q2 Holdings vs Clearwater Analytics - NRR head-to-head

Side-by-side Net Revenue Retention comparison sourced from SEC filings and earnings releases. Both compete in Fintech SaaS. Both at Public stage.

Q2 Holdings leads by +5pp on latest NRR (113% vs 108%).

NRR over time

95%101%107%113%119% FY2021-Q2FY-2023FY2024-Q4FY2025-Q3FY2025-Q4FY2024-Q2FY2025-Q1 NRR Q2 Holdings Clearwater Analytics Q2 Holdings - FY2021-Q2: 113% Q2 Holdings - FY-2022: 110% Q2 Holdings - FY-2023: 108% Q2 Holdings - FY-2024: 109% Q2 Holdings - FY2024-Q4: 109% Q2 Holdings - FY2025-Q2: 109% Q2 Holdings - FY2025-Q3: 109% Q2 Holdings - FY-2025: 113% Q2 Holdings - FY2025-Q4: 113% Clearwater Analytics - FY2024-Q4: 116% Clearwater Analytics - FY2025-Q2: 98% Clearwater Analytics - FY2025-Q3: 108% Clearwater Analytics - FY-2025: 108% Clearwater Analytics - FY2025-Q4: 114% Clearwater Analytics - FY2023-Q4: 107% Clearwater Analytics - FY2024-Q2: 110% Clearwater Analytics - FY2024-Q3: 114% Clearwater Analytics - FY2025-Q1: 98%

Clearwater Analytics hit a higher all-time peak (116% in FY2024-Q4).

Stat-by-stat

Metric Q2 Holdings Clearwater Analytics
Latest NRR 113% 108%
All-time peak NRR 113% 116%
All-time low NRR 108% 98%
QoQ change +0pp -6pp
YoY change +4pp +10pp
3-year change - -
Disclosures tracked 9 9

Customer cohorts

MetricQ2 HoldingsClearwater Analytics
Total customers 460 1,400
Over $100K ARR - -
Over $1M ARR - 100
Top-10 concentration - -
Average ACV - -
US revenue mix - -

Commercial structure

MetricQ2 HoldingsClearwater Analytics
Total RPO $2.7B -
Current RPO (12mo) - -
Multi-year contracts - -
Avg contract length - -
Subscription rev mix 82% -
New customers added - 100

Post-sales motion

MetricQ2 HoldingsClearwater Analytics
CS team size - -
Customers per CSM - -
Pricing model subscription hybrid
Renewal cadence multi-year annual
CSM coverage model account-named -
Top customer exec Kirk Coleman -

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