Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 23

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 224,896 Income (loss) from operations6,554 7,338 (943)11,016 Interest expense16,119 1,076 30,502 3,256 Tax receivable agreement expense— 5,344 — 11,545 Other (income) expense, net439 (3,365)(3,429)(10,560)Income (loss) before income taxes(10,004)4,283 (28,016)6,775 Provision for (benefit from) income taxes510 (486)(287)(505)Net income (loss)(10,514)4,769 (27,729)7,280 Less: Net income (loss) attributable to non-controlling interests(179)1,140 (988)2,184 Net income (loss) attributable to Clearwater Analytics Holdings, Inc.$(10,335)$3,629 $(26,741)$5,096 Net income (loss) per share attributable to Class A and Class D common stockholders stock:Basic$(0.04)$0.02 $(0.10)$0.02 Diluted$(0.04)$0.02 $(0.10)$0.02 Weighted average shares of Class A and Class D common stock outstanding:Basic287,979,411219,009,124265,498,307216,880,515Diluted287,979,411231,467,214265,498,307227,768,434

(1)Amounts include equity-based compensation as follows:

Cost of revenue$4,398 $3,460 $12,480 $9,879 Operating expenses:Research and development7,097 8,674 24,588 26,767 Sales and marketing12,680 3,905 26,870 10,418 General and administrative9,295 9,937 30,792 27,995 Total equity-based compensation expense$33,470 $25,976 $94,730 $75,059 

The accompanying notes are an integral part of these condensed consolidated financial statements.

3

Condensed Consolidated Statements of Comprehensive Income (Loss)

(In thousands, unaudited)

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Net income (loss)$(10,514)$4