Company: CWAN
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021833
Chunk: 29

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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69,229 20274,946 20282,041 20292,577 Thereafter850 Total future minimum lease payments26,988 Less: Imputed interest(2,685)Present value of future minimum lease payments24,303 Less: Current portion of operating lease liability(8,584)Operating lease liabilities - noncurrent$15,719 The following table presents supplemental information for the Company's non-cancelable operating leases for the three months ended March 31, 2025 and 2024 (in thousands, except for weighted average and percentage data):Three Months Ended March 31,20252024Weighted average remaining lease term3.383.59Weighted average discount rate6.25 %5.73 %Cash paid for amounts included in the measurement of lease liabilities$2,413 $2,147 Leased assets obtained in exchange for new lease liabilities$— $7,175 

Note 9. 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 the financial results of CWAN Holdings. The non-controlling interest on the Company’s condensed consolidated balance sheet relates to the interests of CWAN Holdings held by the Continuing Equity Owners. The ownership of the LLC interests is summarized as follows:March 31, 2025December 31, 2024SharesOwnership % SharesOwnership % Clearwater Analytics Holdings, Inc. interest in CWAN Holdings242,589,38895.1 %235,101,24894.9 %Continuing Equity Owners' interest in CWAN Holdings12,542,1104.9 %12,542,1105.1 %255,131,498100.0 %247,643,358100.0 %

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Note 10. Earnings Per Share

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net earnings per share of Class A and Class D common stock for the periods presented (in thousands):Three Months EndedMarch 31,20252024Numerator:Net income$6,936 $2,236 Less: Net income attributable to non-controlling interests426 338 Net income attributable to Clearwater Analytics Holdings, Inc. - basic and diluted$6,510 $1,898 The following tables