Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 26

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 hierarchy. 

Note 6. Goodwill and Intangible Assets

GoodwillThe following table presents details of our goodwill during the three months ended March 31, 2025 (in thousands):AmountBalance as of December 31, 2024$70,971 Foreign currency translation adjustments1,656 Balance as of March 31, 2025$72,627 Purchased Intangible AssetsOn March 31, 2025, the Company completed its previously announced acquisition of Bistro, Blackstone’s proprietary portfolio visualization software platform built for Blackstone’s Credit & Insurance (BXCI) business (the “Bistro Asset Acquisition”). The purchase price for the Bistro Asset Acquisition is $112.7 million, consisting of an aggregate of 3,833,333 shares of Class A common stock, issued at the time of the closing of the Bistro Asset Acquisition, 

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with a fair value of $102.7 million and $10 million to be paid in cash no later than July 1, 2025. The following table presents details of the fair values of identified intangible assets acquired (in thousands, except years): Fair ValueEstimated Useful LifeBlackstone Commercial Agreement$98,078 7 yearsDeveloped Technology - BISTRO14,655 7 yearsTotal$112,733 The following table presents details of our purchased intangible assets as of March 31, 2025 and December 31, 2024 (in thousands):March 31, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Remaining Useful Life (In Years)Intangible assets with finite lives:Developed technology$49,965 $(10,288)$39,677 5.4Commercial agreement98,078 — 98,078 7.0Client relationships5,785 (911)4,874 10.4Trade name / Trademarks674 (434)240 2.0Total intangible assets$154,502 $(11,633)$142,869 December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Remaining Useful Life (In Years)Intangible assets with finite lives:Developed technology$34,366 $(8,617)$25,749 4.9Client relationships5,619 (769)4,850 10.7Trade name / Trademarks662 (