Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 36

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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662 (393)269 2.3Total intangible assets$40,647 $(9,779)$30,868 We recognized amortization expense of $21.1 million and $1.4 million for the three months ended June 30, 2025 and 2024, respectively, and of $22.6 million and $2.5 million for the six months ended June 30, 2025 and 2024, respectively.

Note 7. Supplemental Consolidated Balance Sheet Information

Accounts Receivable, netAccounts receivable, net consisted of the following (in thousands):June 30,December 31,20252024Billed accounts receivable$92,551 $46,316 Unbilled accounts receivable56,513 59,995 Allowance for doubtful accounts and reserves(1,044)(160)Accounts receivable, net$148,020 $106,151 The majority of invoices included within the unbilled accounts receivable balance are issued within the first few days of the month directly following the period of service.

16

Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in thousands):June 30,December 31,20252024Prepaid expenses$23,257 $12,834 Deferred contract costs, current portion4,387 5,047 Contract assets1,686 1,841 Income tax receivable2,255 687 Other receivable1,763 1,493 Other current assets4,308 1,104 Prepaid expense and other current assets$37,656 $23,006 Property, equipment and software, netDepreciation and amortization expense for the three months ended June 30, 2025 and 2024 was $2.5 million and $1.5 million, respectively, and for the six months ended June 30, 2025 and 2024 was $4.1 million and $3.0 million, respectively. Accumulated depreciation and amortization as of June 30, 2025 and December 31, 2024 was $41.5 million and $22.9 million, respectively.Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):June 30,December 31,20252024Accrued interest$11,604 $550 Accrued bonus