Clearwater Analytics Holdings, Inc. Income Statement

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Financial Statements

In millions of USD; shares in millions, except per-share amounts

	FY2025 12 months to Dec 31, 2025	FY2024 12 months to Dec 31, 2024	FY2023 12 months to Dec 31, 2023	FY2022 12 months to Dec 31, 2022	FY2021 12 months to Dec 31, 2021
Revenue
Cost of revenue
Gross profit
Operating expenses:
Research and development
Sales and marketing
General and administrative
Total operating expenses
Income (loss) from operations
Interest expense, net
Interest (income) expense, net
Loss on debt extinguishment
Interest expense
Tax receivable agreement expense
Other income, net
Loss before income taxes
Provision for (benefit from) income taxes
Net income (loss)
Less: Net income (loss) attributable to non-controlling interests
Net income (loss) attributable to Clearwater Analytics Holdings, Inc.
Basic and diluted
Net earnings (loss) per share attributable to Class A and Class D common stock (Note 13):
Basic (in USD per share)
Diluted (in USD per share)
Weighted average shares of Class A and Class D common stock outstanding:
Basic (in shares)
Diluted (in shares)

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