Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 120

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 120
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 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 of $3.0 million of held-to-maturity investments and $4.4 million attributable to the purchase of property and equipment, including internally developed software, partially offset by $86.9 million in proceeds from the sale and maturity of investments.

Cash Flows from Financing Activities

Net cash provided by financing activities of $750.2 million during the nine months ended September 30, 2025 was primarily due to $924.5 million in proceeds from borrowings, net of payment of debt issuance costs, and $3.3 million of proceeds from the employee stock purchase plan, which was partially offset by a $137.1 million repayment of borrowings, $32.2 million payment of tax withholding on