Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 88

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 88
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3 million, which is comprised of $0.3 million from growth in revenues and $5 million from aging of receivable balances for certain customers due to short-term deterioration in days sales outstanding which we continue to believe are collectible. Prepaid expenses and other assets increased $2.6 million due to timing of prepaid subscriptions with software vendors. Accrued expenses and other liabilities decreased $5.1 million primarily due to 2024 bonus payment, partially offset by increase in professional legal services fees in connection with the Bistro, Enfusion and Beacon acquisitions and accrued bonus for 2025.

31

Net cash provided by operating activities of $10.0 million during the three months ended March 31, 2024 was primarily the result of our net income plus noncash 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, an increase in prepaid expenses and other assets, and a decrease in accrued expenses and other liabilities. Accounts receivable increased $4.7 million, which is comprised of $3.4 million from growth in revenues and $1.3 million from aging of receivable balances for certain customers due to short-term deterioration in days sales outstanding which we continue to believe are collectible. Prepaid expenses and other assets increased $4.2 million due to

timing of prepaid subscriptions with software vendors. Accrued expenses and other liabilities decreased $9.4 million primarily due to 2023 bonus payment, partially offset by accrued bonus for 2024.

Cash Flows from Investing Activities

Net cash provided by investing activities of $99.5 million during the three months ended March 31, 2025 was primarily due to $89.5 million of proceeds from sale of available-for-sale investments in preparation for utilizing cash in the closing of the business combinations in April 2025, and $16.2 million of proceeds from maturities of investments, which was offset by $4.7 million in purchase of held-to-maturity investments and $1.5 million in purchase of property and equipment.  

Net cash used in investing activities of $11.8 million during the three months ended March 31, 2024 was primarily due to the purchase of $31.9 million available for-sale investments and $1.4 million attributable to the purchase of property and equipment, including internally developed software, which was offset by $21.5 million in proceeds from the sale and maturity of investments.