Company: CWAN
Filing Date: 2025-03-31
Form Type: S-3ASR
Source: 0001193125-25-068794
Chunk: 9

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-03-31
Form: S-3ASR
Chunk 9
---
 competitive industry, with many companies competing for business from insurance companies,                                                                                                                                      
 asset managers, corporations and government entities on the basis of a number of factors, including the quality and breadth of solutions and services provided, ability to innovate, reputation and the prices of services, and this competition could 
 hurt our financial performance and cash flows;                                                                                                                                                                                                         |

| • |     | we are dependent on fees based on the value of the assets on our platform for the main portion of our revenues,                                                                                                  
 and to the extent market volatility, a downturn in economic conditions or other factors cause negative trends or fluctuations in the value of the assets on our platform, our fee-based revenue and earnings may 
 decline;                                                                                                                                                                                                         |

| • |     | because some of our sales efforts are targeted at large financial institutions, corporations and government                                                                                                                                              
 entities, we face prolonged sales cycles, substantial upfront sales costs and less predictability in completing some of our sales. If our sales cycle lengthens, or if our upfront sales investments do not result in sufficient revenue, our results of 
 operations may be harmed;                                                                                                                                                                                                                                |

| • |     | we have experienced considerable revenue growth over the past several years, which may be difficult to sustain,                                                                                  
 and we depend on attracting and retaining top talent to continue growing and operating our business, and if we are unable to hire, integrate, develop, motivate and retain our personnel, we may |

4

| not be able to maintain or manage our growth, which could have a material adverse effect on our business, financial condition, results of operations and cash flows; |

| • |     | if our investment accounting and reporting solutions, regulatory reporting solutions or risk management or                                                                                                            
 performance analytics solutions fail to perform properly due to undetected errors or similar problems, our business, financial condition, reputation or results of operations could be materially adversely affected; |

| • |     | our business relies heavily on cloud-based services and to some extent, our own computer equipment, electronic                                                                                                                                        
 delivery systems, networks and telecommunications systems and infrastructure, the Internet and the IT systems of third parties. Any failures or disruptions in any of the foregoing could result in reduced revenues, increased costs and the loss of 
 clients and could harm our business, financial condition, reputation, and results of operations;                                                                                                                                                      |

| • |     | our failure to successfully integrate acquisitions could strain our resources. In addition, there are significant                                    
 risks associated with growth through acquisitions, which may materially adversely affect our business, financial condition or results of operations; |

|