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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Statement [Abstract]    
Revenue $ 70,778 $ 56,894
Cost of revenue [1] 21,172 14,322
Gross Profit, Total 49,606 42,572
Operating expenses:    
Research and development [1] 21,294 15,836
Sales and marketing [1] 11,993 7,211
General and administrative [1] 15,040 7,543
Total operating expenses 48,327 30,590
Income from operations 1,279 11,982
Interest expense, net 429 8,449
Other expense, net 85 78
Income before provision for income taxes 765 3,455
Provision for income taxes 237 44
Net income 528 $ 3,411
Less: Net income attributable to non-controlling interests 130  
Net income attributable to Clearwater Analytics Holdings, Inc. $ 398  
Net income per share attributable to Class A and Class D common stock (Note 9):    
Basic and diluted [2] $ 0.00  
Weighted average shares of Class A and Class D common stock outstanding:    
Basic 178,517,480  
Diluted 246,916,663  
[1] Amounts include equity-based compensation as follows:

 

Cost of revenue

 

$

2,311

 

 

$

523

 

Operating expenses:

 

 

 

 

 

 

Research and development

 

 

4,305

 

 

 

1,652

 

Sales and marketing

 

 

3,296

 

 

 

832

 

General and administrative

 

 

5,964

 

 

 

1,858

 

Total equity-based compensation expense

 

$

15,876

 

 

$

4,865

 

[2] Basic and diluted net income per share of Class A and Class D common stock is applicable only for the periods after the IPO and related transactions (as defined in Note 1 to the Unaudited Condensed Consolidated Financial Statements). See Note 8 for the number of shares used in the computation of net income per share of Class A and Class D common stock and the basis for the computation of net income per share.