Company: CWAN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008169
Chunk: 93

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 93
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455,320 $609 $(186,647)$68,865 $338,386 

The accompanying notes are an integral part of these consolidated financial statements.

69

Table of Contents

Clearwater Analytics Holdings, Inc.

Consolidated Statements of Cash Flows

(In thousands)Year Ended December 31,202420232022OPERATING ACTIVITIESNet income (loss)$427,585 $(23,083)$(6,695)Adjustments to reconcile net income (loss) to net cash provided by operating activities:Depreciation and amortization12,181 9,929 5,139 Noncash operating lease cost9,221 7,619 5,950 Equity-based compensation103,201 104,447 65,691 Amortization of deferred contract acquisition costs5,265 4,763 4,327 Amortization of debt issuance costs, included in interest expense280 280 279 Deferred tax benefit(460,032)(1,665)(803)Accretion of discount on investments(2,185)(1,474)— Realized gain on investments(35)(89)— Loss on fixed assets disposal66 — — Changes in operating assets and liabilities, excluding the impact of business acquisitions:Accounts receivable, net(13,648)(19,298)(19,098)Prepaid expenses and other assets5,627 1,151 (4,956)Deferred contract acquisition costs(6,242)(5,067)(5,845)Accounts payable269 (115)1,609 Accrued expenses and other liabilities11,627 1,204 207 Tax receivable agreement liability(18,859)6,000 12,200 Net cash provided by operating activities74,321 84,602 58,005 INVESTING ACTIVITIESPurchases of property and equipment(5,259)(5,624)(7,758)Purchase of held to maturity investments(3,009)(3,004)(3,000)Purchase of available-for-sale investments(114,572)(124,178)— Proceeds from sale of available-for-sale investments— 5,950 — Proceeds from maturities of investments107,417 31,801 — Acquisition of business, net of cash acquired(40,121)— (65,793)Payment of initial direct costs for operating lease(104)—