Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 51

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 the Company’s Class A common stock for $7.5 million. The Company records repurchases of its shares of common stock on the trade date of each transaction. Shares purchased and retired are deducted to the extent of their par value from common stock and from additional paid-in capital for the excess over par value. Direct costs incurred to acquire the shares are included in the total cost of the shares purchased. Repurchases that are executed and unpaid are included in accrued expenses and other current liabilities on our condensed consolidated balance sheets.

Note 13. Segment and Geographic Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision group, in deciding how to allocate resources and assessing performance. The Company’s chief operating decision maker is the Company’s Chief Executive Officer (“CEO”). The Company’s CEO reviews financial information presented on a consolidated basis and makes decisions and allocates resources based on the Company as a whole. The Company has one business activity as a provider of a comprehensive solution that integrates portfolio management, trading, investment accounting, reconciliation, regulatory reporting, performance, compliance, and risk analytics in one unified system. Accordingly, the Company operates as one operating segment, and all required segment financial information is found in the condensed consolidated financial statements.The CODM uses net income (loss) to allocate operating and capital resources and assesses the Company’s performance by comparing actual results and previously forecasted financial information. The measure of segment assets is reported on the balance sheet as total consolidated assets. The following table presents information on revenue, significant expenses, and net income (in thousands):

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Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Revenue$205,110 $115,828 $513,911 $325,338 Less:   Employee compensation expense88,971 49,932 229,581 149,428    Technology expense14,906 8,726 38,533 24,913    Facilities expense6,789 3,178 16,479 9,928    Outside services and contractors expense7,171 4,146 16,461 11,780    Data costs8,672 3,273 19,017 9,316    Provision for (benefit from) income taxes510 (486)(287)(505)   Equity-based compensation expense and related payroll taxes34,330