v3.25.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Revenue $ 181,937 $ 106,791 $ 308,801 $ 209,510
Cost of revenue [1] 63,423 29,890 97,347 58,069
Gross profit 118,514 76,901 211,454 151,441
Operating expenses:        
Research and development [1] 49,755 35,360 87,154 73,036
Sales and marketing [1] 39,221 15,169 58,853 31,480
General and administrative [1] 44,118 22,528 72,945 43,248
Total operating expenses 133,094 73,057 218,952 147,764
Income (loss) from operations (14,580) 3,844 (7,498) 3,677
Interest expense 13,464 1,082 14,383 2,181
Tax receivable agreement expense 0 5,915 0 6,201
Other income, net (1,546) (3,508) (3,869) (7,197)
Income (loss) before income taxes (26,498) 355 (18,012) 2,492
Provision for (benefit from) income taxes (2,347) 79 (797) (19)
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. $ (23,225) $ (430) $ (16,552) $ 1,467
Net income (loss) per share attributable to Class A and Class D common stockholders stock:        
Basic (in USD per share) $ (0.09) $ 0.00 $ (0.07) $ 0.01
Diluted (in USD per share) $ (0.09) $ 0.00 $ (0.07) $ 0.01
Weighted average shares of Class A and Class D common stock outstanding:        
Basic (in shares) 270,632,308 218,349,567 254,070,446 215,804,515
Diluted (in shares) 270,632,308 218,349,567 254,070,446 254,208,965
[1] Amounts include equity-based compensation as follows:
Cost of revenue$4,619 $3,273 $8,083 $6,419 
Operating expenses:
Research and development8,792 9,182 17,490 18,093 
Sales and marketing10,182 2,692 14,191 6,513 
General and administrative13,955 9,711 21,496 18,058 
Total equity-based compensation expense$37,548 $24,858 $61,260 $49,083