Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 19

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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— 13 104 Restricted stock units released3,344,0583 —— —— —— — — — 3 Shares withheld for net share settlement and other(1,635,604)(1)—— —— —— (25,083)— — (3,691)(28,775)Equity-based compensation—— —— —— —— 21,197 — — 3,119 24,316 Foreign currency translation adjustment—— —— —— —— — (1,537)— (227)(1,764)Unrealized loss on available-for-sale investments———— —— —— — (58)— (8)(66)Net income———— ——————1,898 338 2,236 Accrued tax distributions payable to Continuing Equity Owners———— ——————— 505 505 Effect of LLC unit / share exchanges16,250,00016 — —(5,259,868)(5)(10,990,132)(11)— — — — — Allocation of equity to non-controlling interests———— ——————9,830 (9,830)— Balance at March 31, 2024146,189,247$146 111,191$— 27,424,288$28 71,965,845$72 528,712 $1,314 $(169,603)$45,547 $406,217 

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Clearwater Analytics Holdings, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands, unaudited)

Three Months Ended March 31,20252024OPERATING ACTIVITIESNet income $6,936 $2,236 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization3,146 2,550 Noncash operating lease cost2,375 2,232 Equity-based compensation23,712 24,225 Amortization of deferred contract acquisition costs1,350 1,217 Amortization of debt issuance costs, included in interest expense69 69 Deferred tax benefit1,250 (1,022)Accretion of discount on investments(284)(574)Realized gain on investments(112)— Changes in operating assets and liabilities:Accounts receivable,