Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 41

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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1,104 Prepaid expense and other current assets$33,871 $23,006 Property, Equipment and Software, netDepreciation and amortization expense for the three months ended September 30, 2025 and 2024 was $2.8 million and $1.7 million, respectively, and for the nine months ended September 30, 2025 and 2024 was $6.9 million and $4.6 million, respectively. Accumulated depreciation and amortization as of September 30, 2025 and December 31, 2024 was $29.6 million and $22.9 million, respectively.Accrued Expenses and Other Current LiabilitiesAccrued expenses and other current liabilities consisted of the following (in thousands):September 30,December 31,20252024Accrued interest$11,486 $550 Accrued bonus22,502 16,034 Accrued vendor liabilities11,390 9,725 Accrued benefits and retirement17,900 15,478 Acquisition holdback liability62 — Accrued commissions4,148 3,204 Income tax payable3,138 403 Tax distributions payable to Continuing Equity Owners2 23 Other current liabilities12,982 10,237 Accrued expenses and other liabilities$83,610 $55,654 Other Long-term LiabilitiesOther long-term liabilities consisted of the following (in thousands):September 30,December 31,20252024Deferred tax liabilities$1,091 $1,310 Asset retirement obligation171 160 Accrued benefits767 — Other long-term liabilities$2,029 $1,470 

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Note 8. Credit Agreement

2025 Credit AgreementIn connection with the closing of the acquisition of Enfusion, certain subsidiaries of the Company entered into a credit agreement, dated as of April 21, 2025 (the “2025 Credit Agreement”), by and among CWAN Acquisition, LLC, a Delaware limited liability company (“Holdings”), Clearwater Analytics, LLC, a Delaware limited liability company (the “Borrower”), the lenders party thereto from time to time (the “Lenders”) and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent. Pursuant to the 2025 Credit Agreement, the Lenders have provided to the Borrower initial term loans, with a tenure of