Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 40

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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Developed technology$582,146 $(47,022)$535,124 6.6Commercial agreement98,078 (7,006)91,072 6.5Client relationships79,667 (4,389)75,278 9.6Trade name / Trademarks14,102 (1,688)12,414 4.1Domain name245 (15)230 4.7Total intangible assets$774,238 $(60,120)$714,118 December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Remaining Useful Life (In Years)Intangible assets with finite lives:Developed technology$34,366 $(8,617)$25,749 4.9Client relationships5,619 (769)4,850 10.7Trade name / Trademarks662 (393)269 2.3Total intangible assets$40,647 $(9,779)$30,868 We recognized amortization expense of $26.5 million and $1.6 million for the three months ended September 30, 2025 and 2024, respectively, and of $49.1 million and $4.1 million for the nine months ended September 30, 2025 and 2024, respectively.

Note 7. Supplemental Consolidated Balance Sheet Information

Accounts Receivable, netAccounts receivable, net consisted of the following (in thousands):September 30,December 31,20252024Billed accounts receivable$100,448 $59,995 Unbilled accounts receivable53,869 46,316 Allowance for doubtful accounts and reserves(1,526)(160)Accounts receivable, net$152,791 $106,151 The majority of invoices included within the unbilled accounts receivable balance are issued within the first few days of the month directly following the period of service.

18

Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in thousands):September 30,December 31,20252024Prepaid expenses$21,072 $12,834 Deferred contract costs, current portion4,095 5,047 Contract assets1,366 1,841 Income tax receivable1,565 687 Other receivable1,073 1,493 Other current assets4,700