CWAN · As filed with the SEC

Clearwater Analytics Holdings income statement, by quarter

The statement as Clearwater Analytics Holdings presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.

Condensed Consolidated Statements of Operations · USD thousands, except per-share amounts

USD thousands, except per-share amounts	Q1 2026 3 months ended Mar 31, 2026	Q4 2025^† 3 months ended Dec 31, 2025	Q3 2025 3 months ended Sep 30, 2025	Q2 2025 3 months ended Jun 30, 2025	Q1 2025 3 months ended Mar 31, 2025	Q4 2024^† 3 months ended Dec 31, 2024	Q3 2024^† 3 months ended Sep 30, 2024	Q2 2024^† 3 months ended Jun 30, 2024
Revenue	221,228	217,457^†	205,110	181,937	126,864	126,465^†	115,828	106,791
Cost of revenue	75,681	71,236^†	70,638	63,423	33,924	33,561^†	31,357	29,890
Gross profit	145,547	146,221^†	134,472	118,514	92,940	92,904^†	84,471	76,901
Operating expenses:
Research and development	57,050	57,009^†	52,065	49,755	37,400	40,904^†	36,618	35,360
Sales and marketing	46,241	45,857^†	44,471	39,221	19,631	17,885^†	17,889	15,169
General and administrative	33,266	50,098^†	31,382	44,118	28,827	32,897^†	22,626	22,528
Total operating expenses	136,557	152,964^†	127,918	133,094	85,858	91,686^†	77,133	73,057
Income from operations	8,990	(6,743)^†	6,554	(14,580)	7,082	1,218^†	7,338	3,844
Interest income, net	—	—	—	—	—	—	—	(1,841)
Interest expense	12,646	15,162^†	16,119	13,464	(1,694)	(11,877)^†	(2,290)	4,241^†
Tax receivable agreement expense	—	—	0	0	0	—	5,344^†	5,915
Tax receivable agreement expense	—	—	—	—	—	41,636^†	5,344	—
Other income, net	(51)	(249)^†	439	(1,546)	290	8,297^†	1	(585)
Income (loss) before income taxes	(3,605)	(21,656)^†	(10,004)	(26,498)	8,486	(36,838)^†	4,283	355
Provision for (benefit from) income taxes	(809)	(9,131)^†	510	(2,347)	1,550	(457,143)^†	(486)	79
Net income (loss)	(2,796)	(12,525)^†	(10,514)	(24,151)	6,936	420,305^†	4,769	276
Less: Net income (loss) attributable to non-controlling interests	(20)	(459)^†	(179)	(926)	426	1,023^†	1,140	706
Net income (loss) attributable to Clearwater Analytics Holdings, Inc.	(2,776)	(12,066)^†	(10,335)	(23,225)	6,510	419,282^†	3,629	(430)
Net income (loss) per share attributable to Class A and Class D common stockholders stock:
Basic (in USD per share)	(0.01)	—	(0.04)	(0.09)	0.03	—	0.02	0.00
Diluted (in USD per share)	(0.01)	—	(0.04)	(0.09)	0.03	—	0.02	0.00
Weighted average shares of Class A and Class D common stock outstanding:
Basic (in shares)	294,989,154	—	287,979,411	270,632,308	237,324,564	—	219,009,124	218,349,567
Diluted (in shares)	294,989,154	—	287,979,411	270,632,308	246,212,517	—	231,467,214	218,349,567

† Derived: worked out from the filings, not stated in them. A fourth quarter is the 10-K year less the nine months in the third-quarter 10-Q; a quarter of cash flows is year to date less the prior year to date.

As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.