← Clearwater Analytics Holdings, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Net income (loss) | $7.7m | ($44.2m) | ($8.1m) | ($6.7m) | ($23.1m) | $427.6m | ($40.3m) | |
| Depreciation and amortization | $2.0m | $2.3m | $3.5m | $5.1m | $9.9m | $12.2m | $85.5m | |
| Amortization of deferred contract acquisition costs | $1.4m | $2.3m | $3.4m | $4.3m | $4.8m | $5.3m | $11.5m | |
| Amortization of debt issuance costs, included in interest expense | $1.7m | $2.5m | $1.5m | $279k | $280k | $280k | $2.8m | |
| Deferred tax benefit | — | — | ($675k) | ($803k) | ($1.7m) | ($460.0m) | ($12.6m) | |
| Noncash operating lease cost | ($230.0m) | ($6.5m) | $0 | $6.0m | $7.6m | $9.2m | $16.7m | |
| Payment of initial direct costs for operating lease | — | — | — | $0 | $0 | ($104k) | ($89k) | |
| Equity-based compensation | $6.2m | $24.6m | $36.7m | $65.7m | $104.4m | $103.2m | $127.9m | |
| Debt extinguishment costs | — | — | $10.3m | $0 | $0 | $0 | $419k | |
| Provision for bad debt | — | — | — | — | $0 | $0 | $2.2m | |
| Accretion of discount on investments | — | — | $0 | $0 | ($1.5m) | ($2.2m) | ($284k) | |
| Realized gain on investments | — | — | $0 | $0 | ($89k) | ($35k) | ($112k) | |
| Accounts receivable, net | ($5.7m) | ($6.3m) | ($17.3m) | ($19.1m) | ($19.3m) | ($13.6m) | ($11.1m) | |
| Prepaid expenses and other assets | $589k | ($767k) | ($13.1m) | ($5.0m) | $1.2m | $5.6m | ($11.2m) | |
| Deferred contract acquisition costs | — | — | ($5.2m) | ($5.8m) | ($5.1m) | ($6.2m) | ($17.0m) | |
| Accounts payable | $166k | $67k | $361k | $1.6m | ($115k) | $269k | ($1.3m) | |
| Accrued expenses and other liabilities | $4.2m | $9.7m | $3.4m | $1.2m | $1.2m | $11.6m | $22.4m | |
| Tax receivable agreement liability | — | — | $0 | $12.2m | $6.0m | ($18.9m) | ($35k) | |
| Other long-term liabilities | — | $75k | — | — | $0 | $0 | $463k | |
| Purchases of property, equipment and software | ($3.4m) | ($3.8m) | ($5.0m) | ($7.8m) | ($5.6m) | ($5.3m) | ($11.6m) | |
| Purchases of intangible assets | — | — | — | — | $0 | $0 | ($10.2m) | |
| Proceeds from exercise of options | $2.6m | $424k | $2.8m | $18.3m | $4.7m | $248k | $168k | |
| Repayments of borrowings | ($463k) | ($21.6m) | ($434.9m) | ($2.8m) | ($2.7m) | ($2.8m) | ($154.1m) | |
| Proceeds from employee stock purchase plan | — | — | $0 | $4.2m | $4.6m | $4.7m | $6.6m | |
| Payment of tax distributions | — | — | $0 | ($117k) | ($2.2m) | ($3.9m) | $0 | |
| Payment of business acquisition holdback liability | — | — | $0 | $0 | ($2.9m) | ($4.7m) | $0 | |
| Purchase of property and equipment included in accounts payable and accrued expense | $255k | $489k | $322k | $350k | $435k | $38k | $210k | |
| Acquisition of Bistro intangible assets paid in common stock | — | — | — | — | $0 | $0 | $102.7m | |
| Tax distributions payable to Continuing Equity Owners included in accrued expenses | — | — | $793k | $3.2m | $0 | $23k | $3k | |
| Net cash provided by operating activities | ($230.0m) | ($6.5m) | $3.4m | $58.0m | $84.6m | $74.3m | $175.9m | |
| Acquisition of business, net of cash acquired | — | — | $0 | ($65.8m) | $0 | ($40.1m) | ($1.1b) | |
| Purchase of held to maturity investments | — | — | $0 | ($3.0m) | ($3.0m) | ($3.0m) | ($4.7m) | |
| Purchase of available-for-sale investments | — | — | $0 | $0 | ($124.2m) | ($114.6m) | $0 | |
| Proceeds from sale of available-for-sale investments | — | — | $0 | $0 | $6.0m | $0 | $89.5m | |
| Proceeds from maturities of investments | — | — | $0 | $0 | $31.8m | $107.4m | $23.7m | |
| Net cash used in investing activities | ($3.4m) | ($3.8m) | ($5.0m) | ($76.6m) | ($95.1m) | ($55.6m) | ($988.1m) | |
| Proceeds from borrowings, net of payment of debt issuance costs | — | — | — | — | $0 | $0 | $924.5m | |
| Repurchase of common stock | ($3.8m) | ($567k) | ($626k) | $0 | $0 | $0 | ($18.1m) | |
| Net cash provided by (used in) financing activities | $237.7m | $51.0m | $195.3m | $16.2m | ($19.3m) | ($61.7m) | $725.4m | |
| Effect of exchange rate changes on cash and cash equivalents | $87k | $85k | ($112k) | ($1.6m) | $785k | ($1.4m) | $713k | |
| Change in cash and cash equivalents during the period | $4.4m | $40.8m | $193.5m | ($3.9m) | ($29.0m) | ($44.4m) | ($86.1m) | |
| Cash and cash equivalents, beginning of period | $20.3m | $61.1m | $254.6m | $250.7m | $221.8m | $177.3m | $91.2m | |
| Cash paid for interest | $12.3m | $22.2m | $26.1m | $1.4m | $3.5m | $3.5m | $31.1m | |
| Taxes paid related to net share settlement of equity awards | $68k | $429k | ($2.2m) | ($3.2m) | ($20.8m) | ($55.3m) | ($33.7m) | |
| Cash paid for income taxes | $68k | $429k | $802k | $2.0m | $2.4m | $2.0m | $3.5m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.