Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 85

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 85
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 and other current assets 1,460 Property, equipment and software, net 201 Operating lease right-of-use assets, net 2,597 Goodwill337,928 Intangible assets, net 166,900 Other assets 431 Accounts payable (1,272)Accrued expenses and other current liabilities (8,555)Deferred revenue(12,347)Operating lease liability, current portion (482)Operating lease liability, less current portion(2,251)Deferred tax liabilities, net(13,641)Total Merger Consideration for acquisition of business, net of cash acquired$487,738 We expect to finalize the allocation of the purchase consideration as soon as practicable, pending finalization of taxes and any other adjustments related to acquired assets or liabilities, but no later than 12 months from the Beacon Acquisition Date. Goodwill generated from this business combination is primarily attributable to the assembled workforce 

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and expected post-acquisition synergies from integrating Beacon into our business. The goodwill is not expected to be deductible for income tax purposes. The following table presents details of the preliminary fair values of identified intangible assets acquired (in thousands, except years):Fair ValueEstimated Useful LifeDeveloped technology$130,000 8 yearsClient relationships33,500 10 yearsTrade name / Trademarks3,400 5 yearsTotal$166,900 The identified intangible assets are measured at fair value as Level 3 in accordance with the fair value hierarchy.  Acquisition-related costs incurred were $4.1 million during the nine months ended September 30, 2025. There were no acquisition-related costs incurred during the three months ended September 30, 2025 and the three and nine months ended September 30, 2024. These costs mainly consisted of professional fees and administrative costs and were expensed as incurred within "General and administrative" in our condensed consolidated statements of operations. The results of Beacon’s operations have been included in our consolidated financial statements since the Beacon Acquisition Date.These acquisitions accelerate CWAN’s vision of creating a unified, real-time portfolio view across all asset types in a single, cloud-native front-to-back platform solution for the investment management industry. Supplemental Pro Forma Financial Information (Unaudited)The following unaudited pro forma financial information presents a summary of the condensed combined results of operations for each of the periods presented, as if the acquisition of Enfusion had occurred as of January 1, 2024, prepared in accordance