Company: CWAN
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001866368-25-000018
Chunk: 34

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 are measured at fair value as Level 3 in accordance with the fair value hierarchy.  Acquisition-related costs incurred were $2.4 million and $4.1 million during the three and six months ended June 30, 2025, respectively. There were no acquisition-related costs incurred during the three and six months ended June 30, 2024. These costs mainly consisted of professional fees and administrative costs and were expensed as incurred within "General and administrative" in our condensed consolidated statements of operations. The results of Beacon’s operations have been included in our consolidated financial statements since the Beacon Acquisition Date.These acquisitions accelerate Clearwater’s vision of creating a unified, real-time portfolio view across all asset types in a single, cloud-native front-to-back platform solution for the investment management industry. Enfusion and Beacon collectively contributed revenues of $51.3 million and net losses of $18.1 million to our condensed consolidated statements of operations for the three and six months ended June 30, 2025. 

14

Supplemental Pro Forma Financial Information (Unaudited)The following unaudited pro forma financial information presents a summary of the condensed combined results of operations for each of the periods presented, as if the acquisition of Enfusion had occurred as of January 1, 2024, prepared in accordance with ASC 805. The information below reflects pro forma adjustments based on available information and certain assumptions that management believes are factual and supportable. The unaudited pro forma financial information includes adjustments primarily related to amortization of intangible assets acquired, stock-based compensation expense, interest expense for transaction financing, and acquisition-related costs along with the consequential tax effects. Additionally, pro forma information has not been presented for Beacon as disclosure is impracticable due to the unavailability of historical quarterly financial statements. The information for the six months ended June 30, 2025 does not include results of Beacon for comparability. Six Months Ended June 30,20252024Revenue$367,354 $307,017 Net loss$(44,775)$(88,657)

The unaudited pro forma financial information presented above is for informational purposes only and is not indicative of the consolidated results of operations of the combined business had the acquisition of Enfusion actually occurred as of January 1, 2024, or of the results of future operations of the combined business. 

Note 6. Goodwill and Intangible Assets

GoodwillThe following table presents details of our goodwill during the six