Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 63

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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360 $14,395 41 %$87,154 $73,036 $14,118 19 %Percent of revenue27 %33 %28 %35 %

35

Research and development expenses changed as follows:

Change From 2024 to 2025 QTDChange From 2024 to 2025 YTD(in thousands)Increased payroll and related costs$11,525 $9,338 Increased technology cost1,806 3,284 Increased outside services and contractors costs614 653 Other items450 843 Total change$14,395 $14,118 

The increase in research and development expenses for the three and six months ended June 30, 2025 was primarily due to increased payroll and related costs as a result of headcount growth from acquisitions of $10.5 million in the three and six months ended June 30, 2025, increases in merit-based compensation, changes in our employee base leading to higher compensation, and partially offset by decreased equity-related payroll taxes for vested equity awards. In addition, research and development expenses increased due to increased technology costs from higher utilization of third-party cloud computing services and other third-party IT services, and increased outside services and contractors costs related to the Bistro Asset Acquisition.

Sales and Marketing

Three Months EndedJune 30,Six Months EndedJune 30,(In thousands, except percentages)20252024$ Change% Change20252024$ Change% ChangeEquity-based compensation$10,182 $2,692 $7,490 278 %$14,191 $6,513 $7,678 118 %All other sales and marketing29,039 12,477 16,562 133 %44,662 24,967 19,695 79 %Total sales and marketing$39,221 $15,169 $24,052 159 %$58,853 $31,480 $27,373 87 %Percent of revenue22 %14 %19 %15 %

Sales and marketing expense changed as follows:

Change From 2024 to 2025 QTDChange From 2024 to 2025 YTD(in thousands)Increased payroll and related costs$8,717 $11,570 Increased equity-based compensation7,490 7,678 Increased depreciation and amortization4,761 4,779 Increased marketing expense1