Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 36

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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193 Other non-current assets 1,625 Intangible assets, net 450,000 Goodwill852,717 Accounts payable (1,059)Accrued expenses and other current liabilities (11,420)Operating lease liability, current portion (5,570)Operating lease liability, less current portion(12,607)Other long-term liabilities (709)Total Merger Consideration for acquisition of business, net of cash acquired$1,379,052 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 Enfusion Acquisition Date. Goodwill generated from this business combination is primarily attributable to the assembled workforce and expected post-acquisition synergies from integrating Enfusion into our business. The goodwill is expected to be partially 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$400,000 7 yearsClient relationships40,000 10 yearsTrade name / Trademarks10,000 5 yearsTotal$450,000 The identified intangible assets are measured at fair value as Level 3 in accordance with the fair value hierarchy. Acquisition-related costs incurred were $4.6 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 Enfusion’s operations have been included in our consolidated financial statements since the Enfusion Acquisition Date. Enfusion's operations contributed revenues of $57.1 million and $99.6 million, as well as net losses of $0.6 million and $11.7 million, to our condensed consolidated statements of operations for the three and nine months ended September 30, 2025, respectively. 

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Acquisition of Beacon Platform Inc.On April 30, 2025 (“Beacon Acquisition Date”), the Company completed its acquisition of all outstanding stock of Beacon Platform Inc. (“Beacon”), a next-generation leader for cross-asset class modeling and risk analytics for derivatives, private credit and debt, structured products and other