Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 88

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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 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 1,104 Prepaid expense and other current assets$33,871 $23,006 Property, Equipment and Software, netDepreciation and amortization expense for the three months ended September 30, 2025 and 2024 was $2.8 million and $1.7 million, respectively, and for the nine months ended September 30, 2025 and 2024 was $6.9 million and $4.6 million, respectively. Accumulated depreciation and amortization as of September 30, 2025 and December 31, 2024 was $29.6 million and $22.9 million, respectively.Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):September 30,December 31,20252024Accrued interest$11,486 $550 Accrued bonus22,502 16,034 Accrued vendor liabilities11,390 9,725 Accrued benefits and retirement17,900 15,478 Acquisition holdback liability62 — Accrued commissions4,148 3,204 Income tax payable3,138 403 Tax distributions payable to Continuing Equity Owners2 23 Other current liabilities12,982 10,237 Accrued expenses and other liabilities$83,610 $55,654 Other Long-term LiabilitiesOther long-term liabilities consisted of the following (in thousands):September 30,December 31,20252024Deferred tax liabilities$1,091 $1,310 Asset retirement obligation171 160 Accrued benefits767 — Other long-term liabilities$2,029 $1,470 

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Note 8. Credit Agreement

2025 Credit AgreementIn connection with the closing of the acquisition of Enfusion, certain subsidiaries of the Company entered into a credit agreement, dated as of April 21, 2025 (the “2025 Credit Agreement”), by and among CWAN Acquisition, LLC, a Delaware limited liability company (“Holdings”), Clearwater Analytics, LLC, a Delaware limited liability company (the “B