Company: CWAN
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008169
Chunk: 64

Company: Clearwater Analytics Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 64
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)Net income (loss)$427,585 95 %$(23,083)(6 %)$(6,695)(2 %)Adjustments:Interest income, net(8,621)(2 %)(6,401)(2 %)(1,137)0 %Depreciation and amortization12,181 3 %9,929 3 %5,139 2 %Equity-based compensation expense and related payroll taxes110,961 25 %108,078 29 %66,525 22 %Tax receivable agreement expense53,181 12 %14,396 4 %11,639 4 %Transaction expenses8,308 2 %2,052 1 %1,711 1 %Amortization of prepaid management fees and reimbursable expenses1,990 0 %2,592 1 %2,486 1 %Provision for (benefit from) income taxes(457,648)(101 %)217 0 %1,360 0 %Other income, net(2,263)(1 %)(1,874)(1 %)(50)0 %Up-C structure expenses— — %— — %158 0 %Adjusted EBITDA145,674 32 %105,906 29 %81,136 27 %Revenue$451,803 100 %$368,168 100 %$303,426 100 %

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Table of Contents

Results of Operations

The following tables set forth our results of operations for the years ended December 31, 2024, 2023 and 2022:

Year Ended December 31,202420232022(in thousands)Revenue$451,803 $368,168 $303,426 Cost of revenue(1)122,987 107,127 87,784 Gross profit328,816 261,041 215,642 Operating expenses:Research and development(1)150,558 123,925 94,120 Sales and marketing(1)67,254 60,365 52,638 General and administrative(1)98,770 93,496 63,767 Total operating expenses316,582 277,786 210,525 Income (loss) from operations12,234 (16,745)