Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 131

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 2
Chunk 131
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5,915 6%— 0%6,201 3%Transaction expenses(1)10,433 6%875 1 %17,713 6%1,678 1 %Amortization of prepaid management fees and reimbursable expenses10 0%637 2%10 0%1,172 2%Provision for (benefit from) income tax expense(2,347)(1%)79 0%(797)0%(19)0%Other income, net(1,546)(1%)(3,508)(3%)(3,869)(1%)(7,197)(3%)Adjusted EBITDA$58,312 32%$33,448 31%$103,382 33%$65,650 31%Revenue$181,937 100%$106,791 100%$308,801 100%$209,510 100%

(1)        Transaction expenses primarily consist of severance costs, transaction related bonuses, professional & legal fees and administrative costs for closed acquisitions.

32

Results of Operations

The following tables set forth our results of operations for the three and six months ended June 30, 2025 and 2024 (in thousands):

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024(in thousands)Revenue$181,937 $106,791 $308,801 $209,510 Cost of revenue(1)63,423 29,890 97,347 58,069 Gross profit118,514 76,901 211,454 151,441 Operating expenses:Research and development(1)49,755 35,360 87,154 73,036 Sales and marketing(1)39,221 15,169 58,853 31,480 General and administrative(1)44,118 22,528 72,945 43,248 Total operating expenses133,094 73,057 218,952 147,764 Income (loss) from operations(14,580)3,844 (7,498)3,677 Interest expense13,464 1,082 14,383 2,181 Tax receivable agreement expense— 5,915 — 6,201 Other income, net(1,546)(3,508)(3,869)(