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Side-by-side financial comparison of Amphastar Pharmaceuticals, Inc. (AMPH) and Clearwater Analytics Holdings, Inc. (CWAN). Click either name above to swap in a different company.
Clearwater Analytics Holdings, Inc. is the larger business by last-quarter revenue ($217.5M vs $183.1M, roughly 1.2× Amphastar Pharmaceuticals, Inc.). Amphastar Pharmaceuticals, Inc. runs the higher net margin — 13.3% vs -5.4%, a 18.7% gap on every dollar of revenue. On growth, Clearwater Analytics Holdings, Inc. posted the faster year-over-year revenue change (72.0% vs -1.8%). Clearwater Analytics Holdings, Inc. produced more free cash flow last quarter ($52.3M vs $24.6M). Over the past eight quarters, Clearwater Analytics Holdings, Inc.'s revenue compounded faster (45.5% CAGR vs 3.2%).
Amphastar Pharmaceuticals is a publicly traded American speciality pharmaceutical company. It was incorporated in May 2004 and primarily develops, manufactures, and sells inhalation and intranasal products.
Clearwater Analytics Holdings, Inc. is an American software-as-a-service (SaaS) fintech company that provides automated investment accounting, performance, compliance, and risk reporting worldwide. Clearwater is a publicly traded company headquartered in Boise, Idaho, with additional offices in London, Edinburgh, New York City and Noida.
AMPH vs CWAN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $183.1M | $217.5M |
| Net Profit | $24.4M | $-11.8M |
| Gross Margin | 46.8% | 67.2% |
| Operating Margin | 19.4% | -3.1% |
| Net Margin | 13.3% | -5.4% |
| Revenue YoY | -1.8% | 72.0% |
| Net Profit YoY | -35.7% | -102.8% |
| EPS (diluted) | $0.51 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $183.1M | $217.5M | ||
| Q3 25 | $191.8M | $205.1M | ||
| Q2 25 | $174.4M | $181.9M | ||
| Q1 25 | $170.5M | $126.9M | ||
| Q4 24 | $186.5M | $126.5M | ||
| Q3 24 | $191.2M | $115.8M | ||
| Q2 24 | $182.4M | $106.8M | ||
| Q1 24 | $171.8M | $102.7M |
| Q4 25 | $24.4M | $-11.8M | ||
| Q3 25 | $17.4M | $-10.3M | ||
| Q2 25 | $31.0M | $-23.2M | ||
| Q1 25 | $25.3M | $6.5M | ||
| Q4 24 | $38.0M | $419.3M | ||
| Q3 24 | $40.4M | $3.6M | ||
| Q2 24 | $37.9M | $-430.0K | ||
| Q1 24 | $43.2M | $1.9M |
| Q4 25 | 46.8% | 67.2% | ||
| Q3 25 | 51.4% | 65.6% | ||
| Q2 25 | 49.6% | 65.1% | ||
| Q1 25 | 50.0% | 73.3% | ||
| Q4 24 | 46.5% | 73.5% | ||
| Q3 24 | 53.3% | 72.9% | ||
| Q2 24 | 52.2% | 72.0% | ||
| Q1 24 | 52.4% | 72.6% |
| Q4 25 | 19.4% | -3.1% | ||
| Q3 25 | 13.2% | 3.2% | ||
| Q2 25 | 24.2% | -8.0% | ||
| Q1 25 | 21.9% | 5.6% | ||
| Q4 24 | 24.2% | 1.0% | ||
| Q3 24 | 29.8% | 6.3% | ||
| Q2 24 | 30.3% | 3.6% | ||
| Q1 24 | 27.9% | -0.2% |
| Q4 25 | 13.3% | -5.4% | ||
| Q3 25 | 9.0% | -5.0% | ||
| Q2 25 | 17.8% | -12.8% | ||
| Q1 25 | 14.8% | 5.1% | ||
| Q4 24 | 20.4% | 331.5% | ||
| Q3 24 | 21.1% | 3.1% | ||
| Q2 24 | 20.8% | -0.4% | ||
| Q1 24 | 25.1% | 1.8% |
| Q4 25 | $0.51 | $-0.04 | ||
| Q3 25 | $0.37 | $-0.04 | ||
| Q2 25 | $0.64 | $-0.09 | ||
| Q1 25 | $0.51 | $0.03 | ||
| Q4 24 | $0.74 | $1.65 | ||
| Q3 24 | $0.78 | $0.02 | ||
| Q2 24 | $0.73 | $0.00 | ||
| Q1 24 | $0.81 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $282.8M | $91.2M |
| Total DebtLower is stronger | $608.7M | $822.6M |
| Stockholders' EquityBook value | $788.8M | $2.0B |
| Total Assets | $1.6B | $3.0B |
| Debt / EquityLower = less leverage | 0.77× | 0.41× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.8M | $91.2M | ||
| Q3 25 | $276.2M | $64.1M | ||
| Q2 25 | $231.8M | $71.9M | ||
| Q1 25 | $236.9M | $282.9M | ||
| Q4 24 | $221.6M | $255.5M | ||
| Q3 24 | $250.5M | $305.8M | ||
| Q2 24 | $217.8M | $257.9M | ||
| Q1 24 | $289.6M | $267.6M |
| Q4 25 | $608.7M | $822.6M | ||
| Q3 25 | $608.6M | $838.9M | ||
| Q2 25 | $607.7M | $878.1M | ||
| Q1 25 | $603.9M | — | ||
| Q4 24 | $601.6M | $43.3M | ||
| Q3 24 | $596.4M | — | ||
| Q2 24 | $586.9M | — | ||
| Q1 24 | $594.0M | — |
| Q4 25 | $788.8M | $2.0B | ||
| Q3 25 | $776.7M | $2.0B | ||
| Q2 25 | $757.5M | $2.0B | ||
| Q1 25 | $751.3M | $1.1B | ||
| Q4 24 | $732.3M | $1.0B | ||
| Q3 24 | $727.7M | $403.2M | ||
| Q2 24 | $713.3M | $380.6M | ||
| Q1 24 | $672.4M | $406.2M |
| Q4 25 | $1.6B | $3.0B | ||
| Q3 25 | $1.7B | $3.0B | ||
| Q2 25 | $1.6B | $3.0B | ||
| Q1 25 | $1.6B | $1.3B | ||
| Q4 24 | $1.6B | $1.2B | ||
| Q3 24 | $1.5B | $623.5M | ||
| Q2 24 | $1.5B | $585.1M | ||
| Q1 24 | $1.6B | $547.8M |
| Q4 25 | 0.77× | 0.41× | ||
| Q3 25 | 0.78× | 0.42× | ||
| Q2 25 | 0.80× | 0.45× | ||
| Q1 25 | 0.80× | — | ||
| Q4 24 | 0.82× | 0.04× | ||
| Q3 24 | 0.82× | — | ||
| Q2 24 | 0.82× | — | ||
| Q1 24 | 0.88× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $32.9M | $55.3M |
| Free Cash FlowOCF − Capex | $24.6M | $52.3M |
| FCF MarginFCF / Revenue | 13.4% | 24.0% |
| Capex IntensityCapex / Revenue | 4.5% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | $121.2M | $164.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.9M | $55.3M | ||
| Q3 25 | $52.6M | $49.0M | ||
| Q2 25 | $35.6M | $47.1M | ||
| Q1 25 | $35.1M | $24.5M | ||
| Q4 24 | $29.0M | $-29.2M | ||
| Q3 24 | $60.0M | $49.6M | ||
| Q2 24 | $69.1M | $43.9M | ||
| Q1 24 | $55.3M | $10.0M |
| Q4 25 | $24.6M | $52.3M | ||
| Q3 25 | $47.2M | $44.9M | ||
| Q2 25 | $25.0M | $44.1M | ||
| Q1 25 | $24.4M | $23.0M | ||
| Q4 24 | $16.6M | $-30.0M | ||
| Q3 24 | $46.2M | $48.1M | ||
| Q2 24 | $63.1M | $42.4M | ||
| Q1 24 | $46.5M | $8.6M |
| Q4 25 | 13.4% | 24.0% | ||
| Q3 25 | 24.6% | 21.9% | ||
| Q2 25 | 14.3% | 24.2% | ||
| Q1 25 | 14.3% | 18.2% | ||
| Q4 24 | 8.9% | -23.7% | ||
| Q3 24 | 24.1% | 41.5% | ||
| Q2 24 | 34.6% | 39.7% | ||
| Q1 24 | 27.1% | 8.4% |
| Q4 25 | 4.5% | 1.4% | ||
| Q3 25 | 2.8% | 2.0% | ||
| Q2 25 | 6.1% | 1.6% | ||
| Q1 25 | 6.3% | 1.2% | ||
| Q4 24 | 6.7% | 0.6% | ||
| Q3 24 | 7.2% | 1.3% | ||
| Q2 24 | 3.3% | 1.4% | ||
| Q1 24 | 5.1% | 1.4% |
| Q4 25 | 1.35× | — | ||
| Q3 25 | 3.03× | — | ||
| Q2 25 | 1.15× | — | ||
| Q1 25 | 1.39× | 3.76× | ||
| Q4 24 | 0.76× | -0.07× | ||
| Q3 24 | 1.48× | 13.66× | ||
| Q2 24 | 1.82× | — | ||
| Q1 24 | 1.28× | 5.29× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMPH
| Other Products | $62.4M | 34% |
| Baqsimi | $46.7M | 26% |
| Primatenemist | $27.9M | 15% |
| Epinephrine | $17.1M | 9% |
| Lidocaine | $14.9M | 8% |
| Glucagon | $14.1M | 8% |
CWAN
Segment breakdown not available.
