Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 72

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 and our access to capital markets, will be sufficient to meet our operating working capital, capital expenditure and debt repayment requirements over the next 12 months. Our future financing requirements will depend on many factors, including our growth rate, revenue retention rates, the timing and extent of spending to support development of our platform and any future investments or acquisitions we may make. 

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The following table shows our cash flows from operating activities, investing activities and financing activities for the stated periods:

Nine Months EndedSeptember 30,20252024(in thousands)Net cash provided by operating activities$120,565 $103,520 Net cash used in investing activities(988,455)(54,772)Net cash provided by (used in) financing activities750,161 (42,525)Effect of exchange rate changes on cash and cash equivalents1,129 706 Change in cash and cash equivalents during the period$(116,600)$6,929 

Cash Flows from Operating Activities

Net cash provided by operating activities of $120.6 million during the nine months ended September 30, 2025 was primarily the result of our net loss adjusted by non-cash charges, including equity-based compensation, operating lease expense, depreciation and amortization of $141.6 million, which was partially offset by a decrease in changes in operating assets and liabilities of $21.0 million. Cash flows resulting from changes in operating assets and liabilities includes increased prepaid expenses and other assets of $8.6 million due to the timing of prepaid subscriptions with software vendors, increased deferred contract costs of $8.7 million in line with increased revenue arrangements, and decreased accrued expenses and other liabilities of $6.2 million primarily due to payments related to our operating leases, partially offset by cash inflows from decrease in accounts receivable of $5.6 million mainly due to acquired entities. Operating assets and liabilities are net of acquired entities’ balances recognized as of acquisition dates.

Net cash provided by operating activities of $103.5 million during the nine months ended September 30, 2024 was primarily the result of our net income plus non-cash charges, including equity-based compensation, operating lease expense and depreciation and amortization and positive changes in operating assets and liabilities. Cash flows resulting from changes in operating assets and liabilities include an increase in tax receivable agreement liability of $9.9 million due to the accrual of current year’s liability and the timing of tax payments for the year ended December 31, 2023, increase in accrued expenses