SaaS Firm With Nearly $1 Billion in ARR Loses $20 Million Institutional Investor Amid Steep Stock Slide

6 days ago 9

Jonathan Ponciano, The Motley Fool

Fri, March 6, 2026 astatine 9:06 AM CST 3 min read

On February 17, 2026, Sea Cliff Partners Management reported selling retired its full involvement successful Clearwater Analytics (NYSE:CWAN), an estimated $19.85 cardinal transaction based connected last-disclosed presumption values.

According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Sea Cliff Partners Management exited its full holding successful Clearwater Analytics Holdings. The money sold 1,101,680 shares, and the nett presumption alteration arsenic a effect was a $19.85 cardinal alteration successful quarter-end value.

Top holdings aft the filing:
- NASDAQ:BTSG: $38.19 cardinal (16.1% of AUM)
- NYSE:WCC: $23.49 cardinal (9.9% of AUM)
- NYSE:PLNT: $22.24 cardinal (9.4% of AUM)
- NYSE:HXL: $21.86 cardinal (9.2% of AUM)
- NYSE:JHX: $20.72 cardinal (8.7% of AUM)
As of February 13, 2026, shares of Clearwater Analytics Holdings, Inc. were priced astatine $23.15, down adjacent to 20% implicit the past twelvemonth and good underperforming the S&P 500, which is alternatively up astir 17% successful the aforesaid period.

Metric

Value

Revenue (TTM)	$731.4 million
Net Income (TTM)	($38.8 million)
Price (as of marketplace adjacent 2/13/26)	$23.15

Clearwater Analytics provides cloud-based bundle solutions for automated concern information aggregation, reconciliation, accounting, and reporting, with halfway offerings including Clearwater Prism for information integration and flexible reporting.
The institution operates a Software-as-a-Service (SaaS) concern model, generating recurring gross done subscription fees for its analytics and reporting platforms.
It serves insurers, concern managers, corporations, organization investors, and authorities entities seeking scalable concern information absorption and analytics solutions.

Clearwater Analytics Holdings, Inc. provides SaaS-based concern accounting and analytics platforms, supporting clients with automated information aggregation and reporting capabilities.

Operationally, Clearwater is increasing quickly, but the institution surely remains successful a benignant of modulation phase. Fourth 4th gross reached $217.5 million, up 72% twelvemonth implicit year, portion annualized recurring gross climbed to $841 million, reflecting beardown lawsuit enlargement and larger declaration wins and likewise up astir 77% connected a yearly basis. Adjusted EBITDA for the quarter, meanwhile, jumped to $74.1 cardinal arsenic operating leverage began to amusement up successful the model.

Nevertheless, dense concern successful acquisitions and level enlargement has accrued indebtedness and pushed the institution into a humble nett nonaccomplishment for the 4th ($12.5 million), adjacent arsenic recurring gross continues to scale.

Within the broader portfolio context, the exit somewhat reduces vulnerability to bundle and fintech infrastructure. The remaining apical holdings thin toward concern distributors, specialty manufacturing, and user services specified arsenic fittingness chains, businesses that thin to way existent system request much directly. And with shares falling different 2% this quarter, it’s wide this isn’t an contiguous turnaround story.

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