Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 87

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 87
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275.2 million, and short-term investments of $7.7 million. Cash, cash equivalents and short-term investments primarily consist of highly-liquid investments in money market funds, and certificates of deposit. 

On April 21, 2025, subsequent to our reporting date, we replaced the Prior Credit Agreement with the 2025 Credit Agreement and the debt balance under the Prior Credit Agreement was repaid contemporaneously. We obtained term loans due 2033 in an aggregate principal amount of $800 million (the “2025 Term Loan”) and revolving commitments in an aggregate principal amount of $200 million with a tenure of 5 years, which includes a $20 million letter of credit and $20 million of swingline loans (the “2025 Revolving Facility”), to finance the Bistro, Enfusion and Beacon acquisitions. See Note 15 “Subsequent Events” to the condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q.

We believe our existing cash and cash equivalents, investments, together with cash expected to be generated from operations, borrowings available under our 2025 Revolving Facility, and our access to capital markets, will be sufficient to meet our operating working capital, capital expenditure and debt repayment requirements over the next 12 months. Our future financing requirements will depend on many factors, including our growth rate, revenue retention rates, the timing and extent of spending to support development of our platform and any future investments or acquisitions we may make. 

The following table shows our cash flows from operating activities, investing activities and financing activities for the stated periods:

Three Months EndedMarch 31,20252024(in thousands)Net cash provided by operating activities$24,500 $10,037 Net cash provided by (used in) investing activities99,525 (11,800)Net cash used in financing activities(27,249)(30,145)Effect of exchange rate changes on cash and cash equivalents1,033 (213)Change in cash and cash equivalents during the period$97,809 $(32,121)

Cash Flows from Operating Activities

Net cash provided by operating activities of $24.5 million during the three months ended March 31, 2025 was primarily the result of our net income plus non-cash charges, including equity-based compensation, operating lease expense and depreciation and amortization, offset by changes in operating assets and liabilities that decreased operating cash flow by $13.9 million. Accounts receivable increased $5.