Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 43

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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681,872Add: weighted-average effect of dilutive securities exchangeable for Class A common stock:Stock options of Clearwater Analytics Holdings, Inc.8,654,260—RSUs of Clearwater Analytics Holdings, Inc.2,166,169—ESPP of Clearwater Analytics Holdings, Inc.48,542—Conversion of Class B common stock to Class A stock, and conversion of Class C common stock to Class D common stock111,19127,424,288Conversion of Class D common stock to Class A common stock outstanding102,106,160—Weighted average number of shares of Class A and Class D common stock outstanding - diluted254,208,965102,106,160Diluted net earnings per share attributable to Class A and Class D common stockholders$0.01 $0.01 The computation of diluted net earnings per share for the three and six months ended June 30, 2025 and three months ended June 30, 2024 are not separately presented as the Company was in a net loss position in such periods. Shares of the Company's Class B and Class C common stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B and Class C common stock under the two-class method has not been presented.The following weighted-average potentially dilutive securities were evaluated under the treasury stock method for potentially dilutive effects and have been excluded from diluted net earnings per share due to their anti-dilutive effect:Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Conversion of Class B and Class C common stock10,624,86327,535,47923,029,148 — Stock options of Clearwater Analytics Holdings, Inc.5,072,2049,010,3905,341,159867,859RSUs of Clearwater Analytics Holdings, Inc.3,381,5181,185,5522,622,395358,356Employee stock purchase plans17,331155,63234,725—Total19,095,91637,887,05331,027,4271,226,215

Note 12. Equity-Based Compensation

In September 2021, the Board of Directors of the Company (the “Board”) adopted the Clearwater Analytics Holdings, Inc. 2021 Omnibus Incentive Plan (the “2021 Plan”), pursuant to which employees,