Company: CWAN
Filing Date: 2025-03-07
Form Type: 10-K/A
Source: 0001628280-25-011307
Chunk: 13

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K/A
Chunk 13
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 well as supporting the well-being and inclusivity of all our employees because we believe that the well-being of our employees leads to better outcomes for our business and enables us to better meet the needs of our clients. We believe that operating with purpose, passion and creativity benefits our clients, stockholders, employees and suppliers, as well as the communities where we operate.

#### Executive Compensation Program Objectives
The primary objectives of our executive compensation program are to:

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• Link pay to performance over short-[ and long-]term periods;

• Align executive officers’ interests with those of the Company and our stockholders over the long term, generally through the use of equity, as a key element of our executive compensation program;

• Establish components of the program that have purposes and goals that are aligned with our business strategy and objectives; and

• Deliver market competitive compensation to attract, motivate and retain executive talent.

Considering these objectives, our 2024 executive compensation plan is designed to reward our executive officers for generating performance that achieves established Company goals and for increasing stockholder value. If we fall short of achieving Company and individual goals, we expect our executive officers’ compensation to reflect that performance accordingly.

#### 2024 Select Financial Results
We had a strong 2024, with a revenue growth of 23%, while also meaningfully improving adjusted EBITDA and adjusted EBITDA Margin (as defined below).

• Total revenue was $451.8 million, an increase of 23% from $368.2 million for 2023.

• Annualized recurring revenue ("Annualized Recurring Revenue" or "ARR"), was $474.9 million, an increase of 25% from $379.1 million from 2023. ARR is calculated at the end of a period by dividing the recurring revenue in the last month of such period by the number of days in the month and multiplying by 365.

• Gross revenue retention rate ("Gross Revenue Retention Rate") was 98% as of December 31, 2024, consistent with the Company’s Gross Revenue Retention Rate as of December 31, 2023. The Company has reported a Gross Revenue Retention Rate of at least 98% for 23 of the past 24 quarters. Gross Revenue Retention Rate represents annual contract value (“ACV”) at the beginning of the 12-month period ended on the reporting date less client attrition over the prior 12-month period, divided by ACV at the beginning of the