Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 67

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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$53,963 Net cash used in investing activities(984,343)(53,729)Net cash provided by (used in) financing activities801,557 (31,653)Effect of exchange rate changes on cash and cash equivalents2,259 (251)Change in cash and cash equivalents during the period$(108,946)$(31,670)

38

Cash Flows from Operating Activities

Net cash provided by operating activities of $71.6 million during the six months ended June 30, 2025 was primarily the result of our net loss adjusted by non-cash charges, including equity-based compensation, operating lease expense, depreciation and amortization, and cash flows resulting from decrease in changes in operating assets and liabilities of $7.5 million. This primarily includes a decrease in accounts receivable of $10.3 million, which is comprised of a decrease of $4.3 million from acquired entities, net of accounts receivable acquired on acquisition dates, an increase of $3.5 million from growth in Clearwater revenues, offset by a $9.6 million decrease due to collection of aged receivable balances. Prepaid expenses and other assets increased $11.4 million due to the timing of prepaid subscriptions with software vendors. Accrued expenses and other liabilities decreased $5.0 million primarily due to 2024 bonus payment in the first quarter of 2025, partially offset by increase in professional legal services fees in connection with the Bistro, Enfusion and Beacon acquisitions and accrued bonus for 2025.

Net cash provided by operating activities of $54.0 million during the six months ended June 30, 2024 was primarily the result of our net income plus non-cash charges, including equity-based compensation, operating lease expense and depreciation and amortization. Cash flows resulting from changes in assets and liabilities include an increase in accounts receivable of $4.7 million, which is comprised of a $7.2 million increase from growth in revenues, offset by a $2.5 million decrease due to the collection of aged receivable balances. Prepaid expenses and other assets increased $1.1 million primarily due to the receipt of R&D tax credit refunds related to JUMP. Deferred contract acquisition costs increased $1.8 million as a result of growth in sales leading to higher commission payouts. Accrued expenses and other liabilities decreased $4.2 million primarily due to 2023 bonus payment in the first quarter of 2024 and payments related to our operating leases,