Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 35

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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 months ended June 30, 2025 (in thousands):AmountBalance as of December 31, 2024$70,971 Goodwill acquired1,190,923 Foreign currency translation adjustments5,367 Balance as of June 30, 2025$1,267,261 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 was $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, with a fair value of $102.7 million and $10 million that was paid in cash on June 30, 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 

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The following table presents details of our purchased intangible assets as of June 30, 2025 and December 31, 2024 (in thousands):June 30, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted Average Remaining Useful Life (In Years)Intangible assets with finite lives:Developed technology$582,079 $(26,647)$555,432 6.9Commercial agreement98,078 (3,503)94,575 6.8Client relationships79,655 (2,426)77,229 9.8Trade name / Trademarks14,102 (987)13,115 4.3Domain name190 (7)183 4.8Total intangible assets$774,104 $(33,570)$740,534 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 / Trademarks