Company: CWAN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001866368-25-000031
Chunk: 45

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company does not account for lease components (e.g., fixed payments including rent) separately from the non-lease components (e.g., common-area maintenance costs). Operating lease cost was $4.6 million and $11.6 million for the three and nine months ended September 30, 2025. Variable lease cost and short-term lease costs were immaterial during the three and nine months ended September 30, 2025. 

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Future minimum lease payments at September 30, 2025 under the Company’s non-cancelable leases were as follows (in thousands):September 30,20252025 (remaining three months)$4,686 202616,684 202712,752 20287,122 20295,545 Thereafter2,040 Total future minimum lease payments48,829 Less: Imputed interest(4,844)Present value of future minimum lease payments43,985 Less: Current portion of operating lease liability(15,537)Operating lease liabilities - noncurrent$28,448 The table above does not include any legally binding minimum lease payments for leases signed but not yet commenced. As of September 30, 2025, the Company had $34.7 million of undiscounted future minimum lease payments under operating leases that have been signed but have not yet commenced. There was no lease signed but not yet commenced as of December 31, 2024.The following table presents supplemental information for the Company's non-cancelable operating leases for the nine months ended September 30, 2025 and 2024 (in thousands, except for weighted average and percentage data):Nine Months Ended September 30,20252024Weighted average remaining lease term3.243.67Weighted average discount rate5.96 %5.80 %Cash paid for amounts included in the measurement of lease liabilities$4,776 $6,676 Leased assets obtained in exchange for new lease liabilities$6,121 $8,356 

Note 10. Non-controlling Interest

The Company is the sole managing member of CWAN Holdings, and has the sole voting interest in, and control of the management of, CWAN Holdings. As a result, the Company consolidates