Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 146

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 146
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 to the timing of prepaid subscriptions with software vendors, increased deferred contract costs of $8.7 million in line with increased revenue arrangements, and decreased accrued expenses and other liabilities of $6.2 million primarily due to payments related to our operating leases, partially offset by cash inflows from decrease in accounts receivable of $5.6 million mainly due to acquired entities. Operating assets and liabilities are net of acquired entities’ balances recognized as of acquisition dates.

Net cash provided by operating activities of $103.5 million during the nine months ended September 30, 2024 was primarily the result of our net income plus non-cash charges, including equity-based compensation, operating lease expense and depreciation and amortization and positive changes in operating assets and liabilities. Cash flows resulting from changes in operating assets and liabilities include an increase in tax receivable agreement liability of $9.9 million due to the accrual of current year’s liability and the timing of tax payments for the year ended December 31, 2023, increase in accrued expenses and other liabilities of $3.8 million primarily due to increased deferred revenue for professional services invoiced in advance of services being performed partially offset by payment in the first quarter of 2024 of bonuses to employees earned in 2023 and payments related to our operating leases, decrease in prepaid expenses and other assets $1.1 million primarily due to amortization of prepaid software subscriptions, partially offset by cash outflows from an increase in accounts receivable of $7.9 million comprised of $16.8 million increase from growth in revenues offset by a $8.9 million decrease due to collection of aged receivable balances and increase in deferred commissions $3.4 million as a result of growth in sales leading to higher commission payouts.

Cash Flows from Investing Activities

Net cash used in investing activities of $988.5 million during the nine months ended September 30, 2025 was primarily due to the acquisitions of Enfusion and Beacon of $1,074.8 million and acquisition of Bistro intangibles of $10.0 million, which was partially offset by proceeds from the sale of available-for-sale investments of $89.5 million and proceeds from maturities of investments of $20.4 million.

Net cash used in investing activities of $54.8 million during the nine months ended September 30, 2024 was primarily due to the acquisition of Wilshire Technology of $40.1 million, the purchase of $94.0 million available-for-sale investments, the purchase