Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 99

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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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 26,907 100,735 80,540    Tax receivable agreement expenses— 5,344 — 11,545    Depreciation and amortization expense29,300 3,239 56,052 8,730    Interest expense16,119 1,076 30,502 3,256    Other segment items(1)8,856 5,724 34,567 9,127 Consolidated net income (loss)$(10,514)$4,769 $(27,729)$7,280 (1) Other segment items included in consolidated net income (loss) includes legal, travel, marketing, training, recruiting and other overhead expenses. The following table presents the Company’s revenue disaggregated by geography, based on billing address of the customer (in thousands):Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024United States$149,544 $94,517 $386,922 $265,912 Rest of World 55,566 21,311 126,989 59,426 Total revenue$205,110 $115,828 $513,911 $325,338 The following table presents the Company’s long-lived assets including property, equipment and software, net, and operating lease right-of-use assets, net, disaggregated by geography (in thousands):September 30,December 31,20252024United States$40,499 $21,658 Rest of World26,078 17,936 Total long-lived assets, net$66,577 $39,594 

Note 14. Income Taxes

As a part of the Up-C structure, Clearwater Analytics Holdings, Inc. owns a portion of CWAN Holdings, which contains all operations of the business and is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, CWAN Holdings is generally not subject to U.S. federal, state, and local income taxes. Any taxable income or loss generated by CWAN Holdings is passed through to and included in the