Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 16

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 of March 31, 2025, and December 31, 2024— — Class C common stock, par value $0.001 per share; 500,000,000 shares authorized, 12,542,110 shares issued and outstanding as of March 31, 2025, 12,542,110 shares issued and outstanding as of December 31, 202413 13 Class D common stock, par value $0.001 per share; 500,000,000 shares authorized, 16,155,059 shares issued and outstanding as of March 31, 2025, 22,243,668 shares issued and outstanding as of December 31, 202416 22 Additional paid-in-capital827,389 725,174 Accumulated other comprehensive income (loss)1,978 (1,113)Retained earnings286,208 283,946 Total stockholders' equity attributable to Clearwater Analytics Holdings, Inc.1,115,830 1,008,255 Non-controlling interests26,777 21,976 Total stockholders' equity1,142,607 1,030,231 Total liabilities and stockholders' equity$1,285,322 $1,169,572 

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

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Table of Contents

Clearwater Analytics Holdings, Inc.

Condensed Consolidated Statements of Operations

(In thousands, except share amounts and per share amounts, unaudited)

Three Months EndedMarch 31,20252024Revenue$126,864 $102,719 Cost of revenue(1)33,924 28,178 Gross profit92,940 74,541 Operating expenses:Research and development(1)37,400 37,676 Sales and marketing(1)19,631 16,311 General and administrative(1)28,827 20,720 Total operating expenses85,858 74,707 Income (loss) from operations7,082 (166)Interest income, net(1,694)(2,060)Tax receivable agreement expense— 286 Other (income) expense, net290 (530)Income before income taxes8,486 2,138 Provision for (benefit from) income taxes1,550 (98)Net income6,936 2,236 Less: Net income attributable