| Summary of Computation of Basic and Diluted Net Loss Per Share |
The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net earnings (loss) per share of Class A and Class D common stock for the periods presented (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Numerator: | | | | | | | | | Net income (loss) | $ | (24,151) | | | $ | 276 | | | $ | (17,215) | | | $ | 2,511 | | | Less: Net income (loss) attributable to non-controlling interests | (926) | | | 706 | | | (663) | | | 1,044 | | | Net income (loss) attributable to Clearwater Analytics Holdings, Inc. - basic and diluted | $ | (23,225) | | | $ | (430) | | | $ | (16,552) | | | $ | 1,467 | |
The following tables set forth the computation of basic and diluted net earnings per share of Class A and Class D common stock (in thousands, except share amounts and per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Six Months Ended June 30, 2025 | | | Class A | | Class D | | Class A | | Class D | | | | | | Basic net loss attributable to Class A and Class D common stockholders | | | | | | | | | | | | | Numerator: | | | | | | | | | | | | | Allocation of net loss attributable to Clearwater Analytics Holdings, Inc. | $ | (22,444) | | | $ | (781) | | | $ | (15,564) | | | $ | (988) | | | | | | | Denominator: | | | | | | | | | | | | | Weighted average number of shares of Class A and Class D common stock outstanding - basic | 261,537,057 | | 9,095,251 | | 238,908,250 | | 15,162,196 | | | | | | Basic net loss per share attributable to Class A and Class D common stockholders | $ | (0.09) | | | $ | (0.09) | | | $ | (0.07) | | | $ | (0.07) | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2024 | | Six Months Ended June 30, 2024 | | Class A | | Class D | | Class A | | Class D | | Basic net earnings (loss) attributable to Class A and Class D common stockholders | | | | | | | | | Numerator: | | | | | | | | | Allocation of net income (loss) attributable to Clearwater Analytics Holdings, Inc. | $ | (294) | | | $ | (136) | | | $ | 959 | | | $ | 508 | | | Denominator: | | | | | | | | | Weighted average number of shares of Class A and Class D common stock outstanding - basic | 149,405,616 | | 68,943,951 | | 141,122,643 | | 74,681,872 | | Basic net earnings (loss) per share attributable to Class A and Class D common stockholders | $ | (0.00) | | | $ | (0.00) | | | $ | 0.01 | | | $ | 0.01 | |
| | | | | | | | | | | | | Six Months Ended June 30, 2024 | | Class A | | Class D | | Diluted net earnings attributable to Class A and Class D common stockholders | | | | | Numerator: | | | | | Undistributed earnings for basic computation | $ | 959 | | | $ | 508 | | | Reallocation of earnings as a result of conversion of Class B common stock to Class A common stock and conversion of Class C common stock to Class D common stock | 683 | | | 361 | | | Reallocation of earnings as a result of conversion of Class D common stock to Class A common stock | 869 | | | — | | | Allocation of undistributed earnings | $ | 2,511 | | | $ | 869 | | | | | | | Denominator: | | | | | Weighted average number of shares of Class A and Class D common stock outstanding - basic | 141,122,643 | | 74,681,872 | | Add: weighted-average effect of dilutive securities exchangeable for Class A common stock: | | | | | Stock options of Clearwater Analytics Holdings, Inc. | 8,654,260 | | — | | RSUs of Clearwater Analytics Holdings, Inc. | 2,166,169 | | — | | ESPP of Clearwater Analytics Holdings, Inc. | 48,542 | | — | | Conversion of Class B common stock to Class A stock, and conversion of Class C common stock to Class D common stock | 111,191 | | 27,424,288 | | Conversion of Class D common stock to Class A common stock outstanding | 102,106,160 | | — | | Weighted average number of shares of Class A and Class D common stock outstanding - diluted | 254,208,965 | | 102,106,160 | | Diluted net earnings per share attributable to Class A and Class D common stockholders | $ | 0.01 | | | $ | 0.01 | |
|
| Summary of Weighted-Average Potentially Dilutive Securities Excluded from Diluted Net Loss Per Share |
The following weighted-average potentially dilutive securities were evaluated under the treasury stock method for potentially dilutive effects and have been excluded from diluted net earnings per share due to their anti-dilutive effect: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Conversion of Class B and Class C common stock | 10,624,863 | | 27,535,479 | | 23,029,148 | | | — | | | Stock options of Clearwater Analytics Holdings, Inc. | 5,072,204 | | 9,010,390 | | 5,341,159 | | 867,859 | | RSUs of Clearwater Analytics Holdings, Inc. | 3,381,518 | | 1,185,552 | | 2,622,395 | | 358,356 | | Employee stock purchase plans | 17,331 | | 155,632 | | 34,725 | | — | | Total | 19,095,916 | | 37,887,053 | | 31,027,427 | | 1,226,215 |
|