CHICAGO--(BUSINESS WIRE)--CCC Intelligent Solutions Holdings Inc. (the “Company”) (NASDAQ: CCCS) today announced the proposed secondary offering of 40 million shares of the Company’s common stock (the “Offering”) by affiliates of Advent International, L.P. and Oak Hill Capital Partners (collectively, the “Selling Stockholders”). The Selling Stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 6 million shares of the Company’s common stock. The Offering consists entir ...

CCC Intelligent Solutions Holdings Inc. (CCCS) came out with quarterly earnings of $0.09 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.07 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.09, delivering a surprise of 12.50%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.CCC Int ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER 001-03551 CCC Intelligent Solutions Holdings Inc. (Exact name of registrant as specified in its charter) 2 FORM 10-K Delaware (State or other jurisdiction of ...

CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q3 2023 Earnings Conference Call November 6, 2023 5:00 PM ET Company Participants Bill Warmington - Vice President, Investor Relations Githesh Ramamurthy - Chairman and Chief Executive Officer Brian Herb - Chief Financial Officer Conference Call Participants Matt Bullock - Bank of America Alexei Gogolev - JPMorgan Shlomo Rosenbaum - Stifel Dylan Becker - William Blair Kirk Materne - Evercore Saket Kalia - Barclays Arvind Ramnani - Piper Sandler Operator ...

FORM 10-Q CCC INTELLIGENT SOLUTIONS HOLDINGS INC. (Exact name of registrant as specified in its charter) Registrant's telephone number, including area code Not Applicable (Former name or former address, if changed since last report) Large accelerated filer ☒ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or ...

1 Forward-Looking Statements. This presentation contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing" or the negative of these terms or other comparable terminology, although not all forward-looking s ...

CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET Company Participants Bill Warmington - VP, IR Githesh Ramamurthy - Chairman and CEO Brian Herb - CFO Conference Call Participants Kirk Materne - Evercore ISI Dylan Becker - William Blair Gabriela Borges - Goldman Sachs Saket Kalia - Barclays Michael Funk - Bank of America Tyler Radke - Citi Chris Moore - CJS Securities Gary Prestopino - Barrington Research Arvind Ramnani - Piper Sandler Operator ...

Revenue and Deferred Revenue - Revenue recognized from deferred revenue for Q2 2023 was $39.1 million, compared to $32.2 million in Q2 2022[9] - Deferred revenue balance at the end of Q2 2023 was $41.203 million, up from $34.742 million in Q2 2022[9] - Revenue recognized from deferred revenue for H1 2023 was $34.6 million, compared to $30.2 million in H1 2022[9] - Total deferred contract costs at the end of Q2 2023 were $36.351 million, slightly up from $35.890 million in Q2 2022[9] Acquisition and Goodwill - Total purchase price for the acquisition was $32.5 million, with goodwill accounting for $28.245 million[6] - The company recorded a measurement period adjustment of $0.9 million for deferred tax liabilities, increasing goodwill[6] - The fair value of acquired technology intangible asset was determined to be $4.8 million[6] - Transaction costs associated with the acquisition amounted to $1.2 million[6] Financial Performance - Total revenues for Q2 2023 were $211.71 million, compared to $192.79 million in Q2 2022[36] - Net loss for Q2 2023 was $97.66 million, compared to a net income of $15.56 million in Q2 2022[36] - Gross profit for Q2 2023 was $152.59 million, up from $139.94 million in Q2 2022[36] - Operating loss for Q2 2023 was $73.19 million, compared to an operating income of $12.52 million in Q2 2022[36] - Comprehensive loss for Q2 2023 was $97.94 million, compared to a comprehensive income of $15.26 million in Q2 2022[36] - Net loss attributable to common stockholders was $97.7 million for the three months ended June 30, 2023, and $95.5 million for the six months ended June 30, 2023[91] - Net loss for the three months ended June 30, 2023 was $97.3 million, compared to a net income of $15.6 million in the same period in 2022[224] - Adjusted EBITDA for the six months ended June 30, 2023 was $160.4 million, with an Adjusted EBITDA Margin of 39%[224] - Adjusted EBITDA for the six months ended June 30, 2023 was $142.1 million, compared to $133.5 million in the same period in 2022[235] - Adjusted net income for the six months ended June 30, 2023 was $94.3 million, compared to $86.3 million in the same period in 2022[238] - Adjusted earnings per share (diluted) for the six months ended June 30, 2023 was $0.15, compared to $0.13 in the same period in 2022[238] Expenses and Costs - Research and development expenses for Q2 2023 were $43.36 million, up from $38.76 million in Q2 2022[36] - Total cost of revenues for Q2 2023 was $59.12 million, up from $52.85 million in Q2 2022[36] - Interest expense for Q2 2023 was $14.01 million, compared to $7.94 million in Q2 2022[36] - Depreciation and amortization expense for software, equipment, and property was $8.8 million for Q2 2023[53] - Total lease costs for Q2 2023 were $2,503, with operating lease costs at $1,486 and variable lease costs at $1,017[54] - Selling and marketing expense increased by $4.8 million to $35.9 million, or 15.6%, for Q2 2023 compared to Q2 2022[133] - Research and development expense increased by $4.6 million to $43.4 million, or 11.9%, for the three months ended June 30, 2023[164] - Selling and marketing expense increased by $11.6 million to $69.5 million for the six months ended June 30, 2023, primarily due to higher personnel-related costs[215] - General and administrative expense increased by $4.3 million to $88.0 million for the six months ended June 30, 2023, primarily due to higher personnel-related costs[228] - Adjusted operating expenses were $176.5 million for the six months ended June 30, 2023[221] Intangible Assets and Impairment - Net carrying amount of intangible assets as of June 30, 2023 is $1,064,064, with customer relationships contributing $848,661 and acquired technologies at $24,933[74] - The company recorded an impairment charge of $5.3 million for its China reporting unit's customer relationships and acquired technologies intangible assets during the three months ended June 30, 2023[98] - Amortization expense for intangible assets was $24.7 million for the three months ended June 30, 2023, and $49.4 million for the six months ended June 30, 2023[99] - The company recorded a goodwill impairment charge of $77.4 million for its China reporting unit due to adverse market conditions and increased interest rates[96] - The company recorded a goodwill impairment charge of $77.4 million for the China reporting unit during the three months ended June 30, 2023[171] - Impairment of goodwill for the six months ended June 30, 2023 was $77.4 million[235] Loans and Interest Rates - Term B Loan outstanding amount as of June 30, 2023 is $788.0 million, with $8.0 million classified as current[78] - Weighted-average interest rate on Term B Loan for Q2 2023 was 7.4%, with interest payments of $14.6 million[78] - Unamortized debt discount for Term B Loan as of June 30, 2023 is $1.6 million[77] - Unamortized financing costs for Term B Loan as of June 30, 2023 are $7.7 million[77] - Deferred financing fees asset balance for 2021 Revolving Credit Facility as of June 30, 2023 is $2.0 million[77] - The company entered into two interest rate cap agreements with an aggregate notional value of $600.0 million, a cap rate of 4.0%, and an expiration date of July 31, 2025[80] - The aggregate fair value of the interest rate cap agreements was $13.0 million as of June 30, 2023, compared to $12.0 million as of December 31, 2022[80] - The company's Term B Loan balance was $788.0 million as of June 30, 2023, compared to $792.0 million as of December 31, 2022[79] - The weighted-average interest rate on the outstanding borrowings under the Term B Loan increased from 3.2% in 2022 to 7.1% in 2023[103] - The weighted-average interest rate on the Term B Loan for the six months ended June 30, 2023 was 7.1%, compared to 3.2% in the same period in 2022[227] Warrant Liabilities - The company had 17,800,000 Private Warrants outstanding as of June 30, 2023, with an exercise price of $11.50 per share[86] - The company recognized a loss of $20.4 million as a change in fair value of warrant liabilities for the three months ended June 30, 2023[86] - The company's warrant liability was $55.6 million as of June 30, 2023, compared to $36.4 million as of December 31, 2022[86] - The company recognized a loss of $20.4 million from a change in fair value of warrant liabilities for the three months ended June 30, 2023[167] - Change in fair value of warrant liabilities resulted in an expense of $19.2 million for the six months ended June 30, 2023[207] Cash Flow and Working Capital - Net cash provided by operating activities was $102.6 million for the six months ended June 30, 2023, compared to $87.7 million in the same period in 2022[168] - Free cash flow for the six months ended June 30, 2023 was $73.5 million, compared to $62.2 million in the same period in 2022[238] - The company generated $102.6 million in cash flows from operating activities during the six months ended June 30, 2023[238] - As of June 30, 2023, the company had cash and cash equivalents of $403.6 million and a working capital surplus of $416.3 million[238] Stock and Compensation - The company issued 1,818 shares of Series A Preferred Stock at $7,854 per share, representing a 10.0% ownership interest in CCC Cayman as of June 30, 2023[82] - Total stock-based compensation expense was $35.5 million for the three months ended June 30, 2023, compared to $28.4 million in the same period in 2022[85] - The company granted 539,400 stock options under the Cayman Incentive Plans during the six months ended June 30, 2023[109] - Stock-based compensation expense and related employer payroll tax for the six months ended June 30, 2023 was $67.3 million, compared to $53.3 million in the same period in 2022[235] Taxes - Income tax payments for the six months ended June 30, 2023 were $20.0 million, with refunds totaling $39 thousand[65] - The company's effective tax rate for the three months ended June 30, 2023 was 2.3%, compared to 39.4% for the same period in 2022[64] - Income tax benefit for the six months ended June 30, 2023 was $3.1 million, compared to an income tax provision of $9.3 million in the same period in 2022[218] Customer and Market Data - One customer accounted for 11% of accounts receivable as of June 30, 2023[67] - The company has customer agreements with more than 300 insurers and over 35,000 total customers, including 29,000 automotive collision repair facilities[122] - The company processed more than $1 trillion of historical data across its network, leveraging insurance claims, vehicle repair, and automotive parts information[121] - The company has processed more than 14 million unique claims using CCC deep learning AI as of December 31, 2022, a 50% increase over December 31, 2021[121] Other Financial Metrics - Accounts receivable as of June 30, 2023, were $96.14 million, down from $98.35 million as of December 31, 2022[67] - Total other liabilities as of June 30, 2023 are $1,550, including deferred revenue—non-current at $1,139[77] - Total accrued expenses decreased from $71.445 million in December 2022 to $54.711 million in June 2023[100] - Credit card processing revenues increased from $198 million in June 2022 to $274 million in June 2023[113] - Employee health insurance benefits decreased to $209 million as of June 30, 2023, from $501 million as of December 31, 2022[142] - Software NDR was 107% for Q2 2023, compared to 111% for Q2 2022[152] - Software GDR remained stable at 99% for both Q2 2023 and Q2 2022[154] - Revenues increased by $18.9 million to $211.7 million, or 9.8%, for Q2 2023 compared to Q2 2022[155] - Cost of revenues increased by $6.3 million to $59.1 million, or 11.9%, for Q2 2023 compared to Q2 2022[163] - Total revenues increased by $18.9 million to $211.7 million, or 9.8%, for the three months ended June 30, 2023, compared to the same period in 2022[156] - Software subscription revenues accounted for $202.9 million, or 96%, of total revenue for the three months ended June 30, 2023[156] - Gross profit increased by $12.6 million to $152.6 million, or 9.0%, for the three months ended June 30, 2023, with a gross profit margin of 72.1%[158] - Revenue increased by $37.0 million to $416.6 million, or 9.8%, for the six months ended June 30, 2023[199] - Gross profit increased by $23.0 million to $300.4 million, or 8.3%, for the six months ended June 30, 2023[203] - Cost of revenues increased by $14.0 million to $116.3 million, or 13.7%, for the six months ended June 30, 2023[202] - Interest expense increased by $12.6 million to $27.8 million, or 82.2%, for the six months ended June 30, 2023[206] - Amortization of acquired technologies was $13.3 million for the six months ended June 30, 2023[202] - Interest income was $7.3 million for the six months ended June 30, 2023[217] - Adjusted Gross Profit for the six months ended June 30, 2023 was $318.6 million, with an Adjusted Gross Profit Margin of 76%[233] - Interest expense for the six months ended June 30, 2023 was $27.8 million, compared to $15.3 million in the same period in 2022[224] - The Company recognized $1.0 million income from a change in fair value of derivative instruments for the six months ended June 30, 2023[230] - Adjusted operating income for the three months ended June 30, 2023 was $71.8 million, compared to $66.7 million in the same period in 2022[235] - The company had $788.0 million aggregate principal outstanding on its term loan as of June 30, 2023[238]

CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q1 2023 Earnings Conference Call May 2, 2023 5:00 PM ET Company Participants Bill Warmington - VP, IR Githesh Ramamurthy - Chairman and CEO Brian Herb - CFO Conference Call Participants Michael Funk - Bank of America Saket Kalia - Barclays Kirk Materne - Evercore ISI Samad Samana - Jefferies Dylan Becker - William Blair Chris Moore - CJS Securities Tyler Radke - Citi Gabriela Borges - Goldman Sachs Gary Prestopino - Barrington Research Alexei Gogolev - J ...