Clearwater Analytics Holdings, Inc. (CWAN) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 17.68M | 55.33M | 48.98M | 47.08M | 24.5M | -29.2M | 49.56M | 43.93M | 10.04M | 24.1M | 31.7M | 21.14M | 7.93M | 18.16M | 14.68M | 18.25M | 6.92M | 12.42M | 7.29M | 2.02M |
| Operating CF Margin % | 7.99% | 25.44% | 23.88% | 25.88% | 19.31% | -23.09% | 42.79% | 41.13% | 9.77% | 24.34% | 33.48% | 23.52% | 9.38% | 21.96% | 19.18% | 24.86% | 9.77% | 17.8% | 11.31% | 3.31% |
| Operating CF Growth % | -27.86% | 289.5% | -1.16% | 7.18% | 144.1% | -221.17% | 56.34% | 107.82% | 26.49% | 32.71% | 115.93% | 15.81% | 14.73% | 46.23% | 101.29% | 805.31% | 137.65% | 138.18% | - | - |
| Net Income | -2.8M | -12.07M | -10.51M | -24.15M | 6.94M | 419.49M | 4.77M | -430K | 1.9M | -4.19M | -2.34M | -11.88M | -5.42M | -1.97M | -3.03M | -2.23M | 528K | 134K | -11.43M | -211K |
| Depreciation & Amortization | 29.56M | 29.49M | 29.3M | 23.61M | 3.15M | 3.45M | 3.24M | 2.94M | 2.55M | 2.59M | 2.48M | 2.41M | 2.45M | 1.64M | 1.38M | 1.16M | 959K | 1.29M | 792K | 735K |
| Stock-Based Compensation | 28.57M | 0 | 33.47M | 37.55M | 23.71M | 28.14M | 25.98M | 24.86M | 24.23M | 22.32M | 30.36M | 28.57M | 23.2M | 16.92M | 16.7M | 16.19M | 15.88M | 17.46M | 7.68M | 6.69M |
| Deferred Taxes | -2M | -9.88M | -2.24M | -1.74M | 1.25M | -456.96M | -1.08M | -970K | -1.02M | -1.14M | -880K | -174K | -36K | 6.29M | 2.49M | 2.59M | 24K | 0 | 0 | 0 |
| Other Non-Cash Items | 8.33M | 44.59M | 10.28M | 7.56M | 3.4M | 4.46M | 3.03M | 3.71M | 3.28M | -2.73M | 2.68M | 2.74M | 3.04M | 1.9M | 3.12M | 2.96M | 2.57M | 377K | 11.7M | 1.29M |
| Working Capital Changes | -43.99M | 3.19M | -11.31M | 4.26M | -13.94M | -27.78M | 13.63M | 13.82M | -20.9M | 7.24M | -591K | -532K | -15.3M | -6.62M | -5.99M | -2.43M | -13.04M | -6.84M | -1.45M | -6.49M |
| Change in Receivables | -2.5M | -16.72M | -4.77M | 15.64M | -5.3M | -5.77M | -3.16M | -42K | -4.68M | -434K | -8.97M | -3.76M | -6.14M | -4.05M | -9.65M | -2.41M | -2.99M | -1.19M | -3.92M | -3.6M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.02M |
| Change in Payables | -2.46M | 624K | -2.81M | 1.77M | -918K | -1.32M | 1.25M | 326K | 9K | -224K | 9K | 395K | -295K | 1.37M | 661K | -76K | -345K | 167K | 144K | 626K |
| Cash from Investing | -6.44M | 328K | -4.11M | -1.08B | 99.53M | -876K | -1.04M | -41.93M | -11.8M | 558K | -9.83M | -53.14M | -32.65M | -67.67M | -1.91M | -4.74M | -2.23M | -1.53M | -1.27M | -921K |
| Capital Expenditures | -6.44M | -13.04M | -4.06M | -2.99M | -1.47M | -822K | -1.49M | -1.51M | -1.44M | -1.56M | -770K | -1.58M | -1.72M | -1.88M | -1.91M | -1.74M | -2.23M | -1.53M | -1.27M | -921K |
| CapEx % of Revenue | 2.91% | 6% | 1.98% | 1.64% | 1.16% | 0.65% | 1.29% | 1.41% | 1.4% | 1.58% | 0.81% | 1.75% | 2.03% | 2.27% | 2.5% | 2.37% | 3.15% | 2.19% | 1.97% | 1.51% |
| Acquisitions | 0 | 29K | 0 | -1.07B | 0 | 0 | 0 | -40.12M | 0 | -2.9M | 9.06M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 10M | -55K | -10.27M | 0 | 0 | 0 | -104K | 0 | 2.9M | -9.06M | 0 | 0 | -65.79M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -19.25M | -24.75M | -51.4M | 828.81M | -27.25M | -19.14M | -10.87M | -1.51M | -30.14M | -9.37M | -5.88M | 1.22M | -5.27M | 10.76M | -1.73M | 2.48M | 4.71M | -1.4M | 198.03M | -919K |
| Debt Issued (Net) | -17M | -17M | -40M | 828.1M | -688K | -688K | -1.37M | -1K | -687K | -687K | -688K | -687K | -687K | -687K | -688K | -688K | -687K | -688K | -377.69M | -770K |
| Equity Issued (Net) | 0 | -6.23M | 0 | 3.48M | -24.4M | 1.94M | 101K | 2.8M | 104K | 2.27M | -6.44M | 0 | 0 | 0 | 0 | 0 | 0 | 1.56M | 582.19M | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -9.55M | 0 | 0 | -24.4M | 0 | 0 | 0 | 0 | 0 | -6.44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -2.25M | -1.52M | -11.4M | -2.78M | -2.16M | -20.39M | -9.6M | -4.31M | -29.56M | -10.95M | 1.25M | 1.91M | -4.58M | 11.45M | -1.04M | 3.17M | 5.4M | -2.27M | -6.47M | -149K |
| Net Change in Cash | -9.74M | 30.5M | -7.65M | -206.75M | 97.81M | -51.34M | 38.6M | 451K | -32.12M | 16.1M | 15.45M | -30.63M | -29.88M | -37.8M | 9.88M | 14.97M | 9.08M | 9.5M | 204.06M | 93K |
| Free Cash Flow | 11.23M | 52.29M | 44.87M | 44.09M | 23.03M | -30.02M | 48.07M | 42.42M | 8.6M | 22.54M | 30.93M | 19.56M | 6.22M | 16.28M | 12.77M | 16.51M | 4.69M | 10.89M | 6.03M | 1.09M |
| FCF Margin % | 5.08% | 24.05% | 21.88% | 24.24% | 18.15% | -23.74% | 41.5% | 39.72% | 8.37% | 22.76% | 32.67% | 21.76% | 7.35% | 19.69% | 16.68% | 22.49% | 6.62% | 15.61% | 9.34% | 1.8% |
| FCF Growth % | -51.22% | 274.17% | -6.65% | 3.95% | 167.85% | -233.22% | 55.42% | 116.84% | 38.29% | 38.42% | 142.23% | 18.48% | 32.61% | 49.48% | 111.92% | 1407.76% | 123.83% | 132.82% | - | - |
| FCF per Share | 0.04 | 0.18 | 0.16 | 0.16 | 0.09 | -0.12 | 0.21 | 0.19 | 0.03 | 0.11 | 0.15 | 0.12 | 0.03 | 0.09 | 0.05 | 0.07 | 0.02 | 0.04 | 0.03 | 0.01 |
| FCF Conversion (FCF/Net Income) | -6.37x | -4.71x | -4.74x | -2.03x | 3.76x | -0.07x | 13.66x | -102.15x | 5.29x | -5.76x | -16.78x | -1.94x | -1.81x | -6.13x | -4.94x | -7.52x | 17.38x | 122.94x | -0.88x | -9.55x |
| Interest Paid | 0 | 0 | 15.14M | 473K | 1.28M | 837K | 865K | 851K | 911K | 924K | 310K | 870K | 1.35M | 629K | 151K | 347K | 268K | 266K | 10.08M | 7.91M |
| Taxes Paid | 0 | 0 | 310K | 273K | 583K | -1.18M | 589K | 145K | 445K | 948K | 416K | 759K | 309K | 619K | 939K | 116K | 370K | 735K | 10K | 16K |