Clearwater Analytics Holdings, Inc.

CWAN

CWANClearwater Analytics Holdings, Inc. US flag

New York Stock Exchange

24.33

USD

-0.06

- -

7.24BMarket Cap

Income Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	168	203	252	303	368	452	731
+ Sales & Services Revenue	168	203	252	303	368	452	731
- Cost of Revenue	47	53	68	88	107	123	239
+ Cost of Goods & Services	47	53	68	88	107	123	239
Gross Profit	121	150	184	216	261	329	492
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	95	170	156	211	278	317	500
+ Selling, General & Admin	56	66	83	116	154	166	304
+ Research & Development	39	55	73	94	124	151	196
+ Other Operating Expense	- -	49	- -	- -	- -	- -	- -
Operating Income (Loss)	26	-20	28	5	-17	12	-8
- Non-Operating (Income) Loss	18	23	36	10	6	42	42
+ Interest Expense, Net	18	23	26	-1	-2	-4	46
+ Interest Expense	18	23	26	- -	5	4	46
- Interest Income	- -	- -	- -	1	6	9	- -
+ Other Non-Op (Income) Loss	- -	- -	10	12	8	47	-4
Pretax Income	8	-43	-8	-5	-23	-30	-50
- Income Tax Expense (Benefit)	- -	1	- -	1	- -	-458	-9
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	8	-44	-8	-7	-23	428	-40
- Net Extraordinary Losses (Gains)	- -	-44	- -	3	-3	6	-3
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	-44	- -	3	-3	6	-3
Income (Loss) Incl. MI	8	- -	-8	-9	-20	421	-37
- Minority Interest	- -	- -	- -	-1	1	-3	1
Net Income, GAAP	8	- -	-8	-8	-22	424	-39
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	8	- -	-8	-8	-22	424	-39
EBIT	26	-20	28	5	-17	12	-8
EBITDA	28	-18	32	10	-7	24	78
EBITDA Margin (%)	16.5	-8.93	12.68	3.38	-1.85	5.4	10.65
EBITA	26	-20	28	5	-17	12	-8
Gross Margin (%)	71.94	73.79	73.07	71.07	70.9	72.78	67.29
Operating Margin (%)	15.3	-10.05	11.29	1.69	-4.55	2.71	-1.05
Profit Margin (%)	4.6	- -	-3.26	-2.63	-5.87	93.93	-5.31
Sales per Employee	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	1	- -	- -	- -	- -	- -
Depreciation Expense	2	2	3	5	10	12	86
Basic Weighted Avg Shares	173	173	178	186	200	219	271
Basic EPS, GAAP	0.04	- -	-0.05	-0.04	-0.11	1.94	-0.14
Basic EPS from Cont Ops	0.04	-0.26	-0.05	-0.04	-0.12	1.95	-0.15
Diluted Weighted Avg Shares	173	173	236	186	200	254	271
Diluted EPS, GAAP	0.04	- -	-0.03	-0.04	-0.11	1.67	-0.14
Diluted EPS from Cont Ops	0.04	-0.26	-0.03	-0.04	-0.12	1.68	-0.15

Balance Sheet (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	53	102	321	356	416	385	296
+ Cash, Cash Equivalents & STI	20	61	255	256	296	255	91
+ Cash & Cash Equivalents	20	61	255	251	222	177	91
+ ST Investments	- -	- -	- -	5	74	78	- -
+ Accounts & Notes Receiv	27	33	50	79	101	110	172
+ Accounts Receivable, Net	8	9	23	42	46	60	113
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	18	24	27	38	55	50	59
+ Inventories	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	6	8	17	21	19	19	32
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	11	14	23	126	143	785	2,736
+ Property, Plant & Equip, Net	7	9	11	39	38	40	61
+ Property, Plant & Equip	14	18	23	54	56	62	89
- Accumulated Depreciation	7	9	12	14	18	23	28
+ LT Investments & Receivables	- -	- -	- -	- -	21	30	- -
+ LT Investments	- -	- -	- -	- -	21	30	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	4	5	12	86	83	715	2,675
+ Total Intangible Assets	- -	- -	- -	73	71	102	1,958
+ Goodwill	- -	- -	- -	44	45	71	1,270
+ Other Intangible Assets	- -	- -	- -	29	26	31	688
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	4	5	12	13	12	613	718
Total Assets	64	116	344	482	559	1,170	3,032
+ Payables & Accruals	11	27	19	38	48	35	86
+ Accounts Payable	1	1	1	3	3	3	4
+ Accrued Taxes	1	10	2	17	22	- -	2
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	9	16	15	18	23	32	80
+ ST Debt	3	3	3	9	9	11	23
+ ST Borrowings	3	3	3	3	3	3	8
+ ST Finance Leases	- -	- -	- -	6	7	8	15
+ Other ST Liabilities	6	8	9	20	23	31	52
+ Deferred Revenue	1	1	1	1	3	7	22
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	5	6	8	18	21	24	30
Total Current Liabilities	21	38	31	66	81	77	161
+ LT Debt	244	422	51	68	63	61	837
+ LT Borrowings	244	422	51	48	46	43	815
+ LT Finance Leases	- -	- -	- -	20	17	18	23
+ Other LT Liabilities	- -	- -	- -	10	6	1	2
+ Accrued Liabilities	- -	- -	- -	6	5	1	1
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	4	- -	- -	1
Total Noncurrent Liabilities	244	422	51	78	68	62	839
Total Liabilities	265	460	82	144	149	139	1,001
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	1	-99	389	456	533	725	1,755
+ Common Stock	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	1	-99	389	455	533	725	1,754
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-202	-246	-192	-187	-181	284	260
+ Other Equity	- -	- -	- -	1	3	-1	7
Equity Before Minority Interest	-201	-345	197	270	354	1,008	2,022
+ Minority/Non Controlling Interest	- -	- -	65	69	55	22	9
Total Equity	-201	-345	262	338	410	1,030	2,031
Total Liabilities & Equity	64	116	344	482	559	1,170	3,032
Shares Outstanding	173	173	178	191	211	235	291
Number of Employees	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	25	23	26	38
Net Debt	227	364	-201	-199	-173	-131	731
Net Debt to Equity	-112.9	-105.57	-76.64	-58.95	-42.28	-12.76	36.01
Tangible Common Equity Ratio	-313.79	-298.21	76.05	64.87	69.4	86.95	6.84
Current Ratio	2.57	2.66	10.3	5.4	5.15	4.99	1.83
Cash Conversion Cycle	- -	7.39	16.07	29.69	32.9	33.84	37.87

Cash Flow Statement (USD)

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	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	8	-44	-8	-7	-23	428	-40
+ Depreciation & Amortization	2	2	3	5	10	12	86
+ Non-Cash Items	9	29	51	75	114	-344	148
+ Stock-Based Compensation	6	25	37	66	104	103	128
+ Deferred Income Taxes	- -	- -	-1	-1	-2	-460	-13
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Cash Adj	3	5	15	11	11	13	33
+ Chg in Non-Cash Work Cap	-249	6	-43	-16	-16	-21	-18
+ (Inc) Dec in Accts Receiv	-6	-6	-17	-19	-19	-14	-11
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	1	-1	-13	-5	1	6	-11
+ Inc (Dec) in Accts Payable	-241	17	-8	14	1	12	21
+ Inc (Dec) in Other	-3	-4	-5	-6	1	-25	-17
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-230	-6	3	58	85	74	176
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-3	-4	-5	-8	-6	-5	-22
+ Acq of Fixed Prod Assets	-3	-4	-5	-8	-6	-5	-12
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	-10
+ Cash (Repurchase) of Equity	133	-1	582	- -	- -	- -	-18
+ Increase in Capital Stock	137	- -	582	- -	- -	- -	- -
+ Decrease in Capital Stock	-4	-1	-1	- -	- -	- -	-18
+ Net Change in LT Investment	- -	- -	- -	-3	-89	-10	109
+ Dec in LT Investment	- -	- -	- -	- -	38	107	113
+ Inc in LT Investment	- -	- -	- -	-3	-127	-118	-5
+ Net Cash From Acq & Div	- -	- -	- -	-66	- -	-40	-1,075
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	-66	- -	-40	-1,075
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-3	-4	-5	-77	-95	-56	-988
+ Dividends Paid	- -	-173	- -	- -	- -	- -	- -
+ Net Cash From Debt	105	181	-380	-3	-3	-3	770
+ Cash From Debt	105	203	55	- -	- -	- -	924
+ Repayments of Debt	- -	-22	-435	-3	-3	-3	-154
+ Other Financing Activities	- -	44	-6	19	-17	-59	-27
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	238	51	195	16	-19	-62	725
Effect of Foreign Exchange Rates	- -	- -	- -	-2	1	-1	1
Net Changes in Cash	4	41	194	-2	-30	-43	-87
EBITDA	28	-18	32	10	-7	24	78
EBITDA Margin (%)	16.5	-8.93	12.68	3.38	-1.85	5.4	10.65
Free Cash Flow	-233	-10	-2	50	79	69	154
Net Cash Paid for Acquisitions	- -	- -	- -	66	- -	40	1,075
Free Cash Flow to Firm	-216	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	171	-382	47	76	66	935
Free Cash Flow per Basic Share	-1.35	-0.06	-0.01	0.27	0.4	0.31	0.57
Price/Free Cash Flow	- -	- -	647.51	52.91	44.33	87.96	33.1
Cash Flow to Net Income	-29.75	- -	-0.41	-7.28	-3.91	0.18	-4.53
Capital Expenditures	-3	-4	-5	-8	-6	-5	-22