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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenue $ 115,828 $ 94,664 $ 325,338 $ 269,149
Cost of revenue [1] 31,357 27,013 89,426 78,792
Gross profit 84,471 67,651 235,912 190,357
Operating expenses:        
Research and development [1] 36,618 32,250 109,654 90,198
Sales and marketing [1] 17,889 15,020 49,369 44,049
General and administrative [1] 22,626 26,268 65,873 75,445
Total operating expenses 77,133 73,538 224,896 209,692
Income (loss) from operations 7,338 (5,887) 11,016 (19,335)
Interest income, net (2,290) (1,733) (6,191) (4,422)
Tax receivable agreement (benefit) expense 5,344 (566) 11,545 6,112
Other (income) expense, net 1 (971) (1,113) (1,205)
Income (loss) before income taxes 4,283 (2,617) 6,775 (19,820)
Benefit from income taxes (486) (274) (505) (184)
Net income (loss) 4,769 (2,343) 7,280 (19,636)
Less: Net income (loss) attributable to non-controlling interests 1,140 (454) 2,184 (2,442)
Net income (loss) attributable to Clearwater Analytics Holdings, Inc. $ 3,629 $ (1,889) $ 5,096 $ (17,194)
Net income (loss) per share attributable to Class A and Class D common stockholders stock:        
Basic (in USD per share) $ 0.02 $ (0.01) $ 0.02 $ (0.09)
Diluted (in USD per share) $ 0.02 $ (0.01) $ 0.02 $ (0.09)
Weighted average shares of Class A and Class D common stock outstanding:        
Basic (in shares) 219,009,124 201,582,951 216,880,515 197,903,361
Diluted (in shares) 231,467,214 201,582,951 227,768,434 197,903,361
[1] Amounts include equity-based compensation as follows:
Cost of revenue$3,460 $3,346 $9,879 $8,837 
Operating expenses:
Research and development8,674 6,768 26,767 17,393 
Sales and marketing3,905 4,010 10,418 11,221 
General and administrative9,937 16,233 27,995 44,675 
Total equity-based compensation expense$25,976 $30,357 $75,059 $82,126