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 (QTWO)
113.0%
FY2025-Q4 · Fintech SaaS
vs
Clearwater Analytics (CWAN)
108.0%
FY-2025 · Fintech SaaS
Q2 Holdings leads by +5.0pp on latest NRR (113.0% vs 108.0%).

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 (116.0% in FY2024-Q4).

Stat-by-stat

Metric Q2 Holdings Clearwater Analytics
Latest NRR 113.0% 108.0%
All-time peak NRR 113.0% 116.0%
All-time low NRR 108.0% 98.0%
QoQ change +0.0pp -6.0pp
YoY change +4.0pp +10.0pp
3-year change - -
Disclosures tracked 9 9

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