Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 46

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 financial information presented on a consolidated basis and makes decisions and allocates resources based on the Company as a whole. The Company has one business activity as a provider of a solution for investment data aggregation, accounting, analytics, and reporting services. Accordingly, the Company operates as one operating segment, and all required segment financial information is found in the condensed consolidated financial statements.The CODM uses net income (loss) to allocate operating and capital resources and assesses the Company’s performance by comparing actual results and previously forecasted financial information. The measure of segment assets is reported on the balance sheet as total consolidated assets. The following table presents information on revenue, significant expenses, and net income (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Revenue$181,937 $106,791 $308,801 $209,510 Less:   Employee compensation expense84,786 49,932 140,610 99,496    Technology expense13,980 8,726 23,627 16,187    Facilities expense5,894 3,178 9,690 6,750    Outside services and contractors expense5,267 4,146 9,290 7,634    Data costs6,561 3,273 10,345 6,043    Provision for (benefit from) income taxes(2,347)79 (797)(19)   Equity-based compensation expense and related payroll taxes38,843 25,151 66,405 53,632    Tax receivable agreement expenses— 5,915 — 6,201    Depreciation and amortization expense23,606 2,941 26,752 5,491    Interest expense13,464 1,082 14,383 2,181    Other segment items(1)16,034 2,092 25,711 3,403 Consolidated net income (loss)$(24,151)$276 $(17,215)$2,511 (1) Other segment items included in consolidated net income includes legal, travel, marketing, training, recruiting and other overhead expenses. The following table presents the Company’s revenue disaggregated by geography, based on billing address of the customer (in thousands):Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024United States