CCC Intelligent Solutions Holdings Inc. Announces Second Quarter 2025 Financial Results
“CCC delivered strong second quarter results, highlighted by
“In the second quarter we had several of our larger customers who had been testing our newer solutions progress past the pilot phase into broader rollouts of our solutions across their businesses,” continued Ramamurthy. “Historically, adoption by these leading customers has helped drive further adoption across the insurance economy, which underscores our confidence in our long-term growth opportunity.”
Second Quarter 2025 Financial Highlights
Revenue
-
Total revenue was
$260.5 million 12% from$232.6 million
Profitability
-
GAAP gross profit was
$194.0 million 74% , for the second quarter of 2025, compared with$177.3 million 76% , for the second quarter of 2024. Adjusted gross profit was$202.5 million 78% , for the second quarter of 2025, compared with$182.1 million 78% , for the second quarter of 2024.
-
GAAP operating income was
$24.5 million $22.5 million $94.2 million $86.0 million
-
GAAP net income was
$13.0 million $21.4 million $58.9 million $56.2 million
-
Adjusted EBITDA was
$108.1 million $95.8 million 13% in the second quarter of 2025 compared with the second quarter of 2024.
Liquidity
-
CCC had
$55.1 million $996.0 million $43.1 million $27.4 million $51.8 million $36.2 million
2nd Quarter and Recent Business Highlights
- In Q2, several top-10 insurers (based on 2024 direct premium written) contracted for multiple CCC AI-enabled auto physical damage (APD) solutions that extend their use of CCC’s photo-AI capabilities beyond estimating to include earlier stages of claim handling as well as later stages of audit review. In addition, another top-20 insurer contracted for our AI-enabled subrogation platform, which currently serves 25 CCC customers.
- CCC continued to see solid momentum in its Casualty business during the second quarter of 2025, renewing and expanding its Casualty relationships with top-10 and top-20 insurers. In addition, the April 30th announcement about the integration of EvolutionIQ’s AI-powered medical record synthesis solution, Medhub, into CCC’s casualty suite of solutions is generating positive engagement among our auto insurance customers.
- CCC announced the appointment of Barak Eilam to its Board of Directors on July 14th. Mr. Eilam is the former CEO of NICE Systems and has over 2 decades of experience in enterprise software, AI, and customer-engagement technologies. Mr. Eilam’s proven ability to scale organizations and champion customer-centric innovation will be a strong addition to CCC’s next phase of growth.
-
During the second quarter of 2025, CCC repurchased 11 million shares of its stock for approximately
$100 million $172 million $300 million
Business Outlook
Based on information as of today, July 31, 2025, the Company is issuing the following financial guidance:
|
Third Quarter Fiscal 2025 |
|
|
Full Year Fiscal 2025 |
|
|||
Revenue |
|
$ |
263.0 million to |
|
|
$ |
1.046 billion to |
|
Adjusted EBITDA |
|
$ |
104.0 million to |
|
|
$ |
420.0 million to |
|
Conference Call Information
CCC will host a conference call today, July 31, 2025, at 5:00 p.m. (Eastern Time) to discuss the Company’s financial results and financial guidance. A live webcast of this conference call will be available on the “Investor Relations” page of the Company’s website at https://ir.cccis.com, and a replay will be archived on the website as well.
About CCC Intelligent Solutions
CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), is a leading SaaS platform provider for the multi-trillion-dollar insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC Intelligent Experience (IX) Cloud™ platform, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes and personalized experiences that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep lives moving forward when it matters most. Learn more about CCC at www.cccis.com.
Forward Looking Statements
This press release 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 statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, future events, goals, plans and projections regarding the Company’s financial position, results of operations, market position, product development and business strategy. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, our revenues, the concentration of our customers and the ability to retain our current customers; our ability to negotiate with our customers on favorable terms; our ability to maintain and grow our brand and reputation cost-effectively; the execution of our growth strategy; the impact of public health outbreaks, epidemics or pandemics on our business and results of operations; our projected financial information, growth rate and market opportunity; the health of our industry, claim volumes, and market conditions; changes in the insurance and automotive collision industries, including the adoption of new technologies; global economic conditions and geopolitical events, including the imposition of trade tariffs, supply chain disruption and inflationary; competition in our market and our ability to retain and grow market share; our ability to develop, introduce and market new enhanced versions of our solutions; our sales and implementation cycles; the ability of our research and development efforts to create significant new revenue streams; changes in applicable laws or regulations; changes in international economic, political, social and governmental conditions and policies, including corruption risks in
Non-GAAP Financial Measures
This press release includes certain financial measures not presented in accordance with generally accepted accounting principles in the
The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please refer to the reconciliations of these measures below to what the Company believes are the most directly comparable measures evaluated in accordance with GAAP.
This press release also includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included for these projections.
| CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
| (In thousands, except share data) | ||||||||
| June 30, | December 31, | |||||||
|
2025 |
|
|
2024 |
|
|||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ |
55,053 |
|
$ |
398,983 |
|
||
| Accounts receivable—Net of allowances of December 31, 2024, respectively |
|
132,450 |
|
|
106,578 |
|
||
| Income taxes receivable |
|
35,567 |
|
|
7,743 |
|
||
| Deferred contract costs |
|
23,158 |
|
|
22,373 |
|
||
| Other current assets |
|
31,477 |
|
|
28,973 |
|
||
| Total current assets |
|
277,705 |
|
|
564,650 |
|
||
| SOFTWARE, EQUIPMENT, AND PROPERTY—Net |
|
170,341 |
|
|
172,079 |
|
||
| OPERATING LEASE ASSETS |
|
37,275 |
|
|
29,762 |
|
||
| INTANGIBLE ASSETS—Net |
|
1,056,418 |
|
|
934,278 |
|
||
| GOODWILL |
|
1,956,485 |
|
|
1,417,724 |
|
||
| DEFERRED FINANCING FEES, REVOLVER—Net |
|
1,551 |
|
|
1,743 |
|
||
| DEFERRED CONTRACT COSTS |
|
20,281 |
|
|
18,692 |
|
||
| EQUITY METHOD INVESTMENT |
|
10,228 |
|
|
10,228 |
|
||
| OTHER ASSETS |
|
35,140 |
|
|
34,062 |
|
||
| TOTAL | $ |
3,565,424 |
|
$ |
3,183,218 |
|
||
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Accounts payable | $ |
17,996 |
|
$ |
18,393 |
|
||
| Accrued expenses |
|
66,504 |
|
|
72,543 |
|
||
| Income taxes payable |
|
80 |
|
|
80 |
|
||
| Current portion of long-term debt |
|
10,010 |
|
|
8,000 |
|
||
| Current portion of long-term licensing agreement—Net |
|
3,360 |
|
|
3,257 |
|
||
| Operating lease liabilities |
|
7,632 |
|
|
7,658 |
|
||
| Deferred revenues |
|
71,214 |
|
|
44,915 |
|
||
| Note payable to minority investor |
|
23,718 |
|
|
— |
|
||
| Total current liabilities |
|
200,514 |
|
|
154,846 |
|
||
| LONG-TERM DEBT—Net |
|
973,298 |
|
|
761,053 |
|
||
| DEFERRED INCOME TAXES—Net |
|
161,244 |
|
|
164,844 |
|
||
| LONG-TERM LICENSING AGREEMENT—Net |
|
22,728 |
|
|
24,435 |
|
||
| OPERATING LEASE LIABILITIES |
|
53,795 |
|
|
47,235 |
|
||
| OTHER LIABILITIES |
|
17,495 |
|
|
11,303 |
|
||
| Total liabilities |
|
1,429,074 |
|
|
1,163,716 |
|
||
| COMMITMENTS AND CONTINGENCIES (Notes 20 and 21) | ||||||||
| MEZZANINE EQUITY: | ||||||||
| Redeemable non-controlling interest |
|
— |
|
|
21,679 |
|
||
| STOCKHOLDERS’ EQUITY: | ||||||||
| Preferred stock— |
|
— |
|
|
— |
|
||
| Common stock— 629,207,115 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively |
|
65 |
|
|
63 |
|
||
| Additional paid-in capital |
|
3,409,623 |
|
|
3,094,182 |
|
||
| Accumulated deficit |
|
(1,272,181 |
) |
|
(1,095,227 |
) |
||
| Accumulated other comprehensive loss |
|
(1,157 |
) |
|
(1,195 |
) |
||
| Total stockholders’ equity |
|
2,136,350 |
|
|
1,997,823 |
|
||
| TOTAL | $ |
3,565,424 |
|
$ |
3,183,218 |
|
||
| CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) | ||||||||||||||||
| (In thousands, except share and per share data) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| For the Three Months Ended | For the Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
||
| REVENUES | $ |
260,451 |
|
$ |
232,618 |
|
$ |
512,016 |
|
$ |
459,855 |
|
||||
| COST OF REVENUES | ||||||||||||||||
| Cost of revenues, exclusive of amortization of acquired technologies |
|
62,067 |
|
|
53,231 |
|
|
124,271 |
|
|
106,038 |
|
||||
| Amortization of acquired technologies |
|
4,368 |
|
|
2,090 |
|
|
8,737 |
|
|
8,657 |
|
||||
| Total cost of revenues |
|
66,435 |
|
|
55,321 |
|
|
133,008 |
|
|
114,695 |
|
||||
| GROSS PROFIT |
|
194,016 |
|
|
177,297 |
|
|
379,008 |
|
|
345,160 |
|
||||
| OPERATING EXPENSES: | ||||||||||||||||
| Research and development |
|
59,929 |
|
|
49,253 |
|
|
121,692 |
|
|
98,730 |
|
||||
| Selling and marketing |
|
43,475 |
|
|
36,321 |
|
|
91,772 |
|
|
71,907 |
|
||||
| General and administrative |
|
47,630 |
|
|
51,268 |
|
|
114,748 |
|
|
108,329 |
|
||||
| Amortization of intangible assets |
|
18,512 |
|
|
17,942 |
|
|
37,024 |
|
|
35,884 |
|
||||
| Total operating expenses |
|
169,546 |
|
|
154,784 |
|
|
365,236 |
|
|
314,850 |
|
||||
| OPERATING INCOME |
|
24,470 |
|
|
22,513 |
|
|
13,772 |
|
|
30,310 |
|
||||
| INTEREST EXPENSE |
|
(17,836 |
) |
|
(16,602 |
) |
|
(34,763 |
) |
|
(33,054 |
) |
||||
| INTEREST INCOME |
|
1,220 |
|
|
2,625 |
|
|
3,168 |
|
|
5,092 |
|
||||
| CHANGE IN FAIR VALUE OF WARRANT LIABILITIES |
|
— |
|
|
15,963 |
|
|
— |
|
|
14,378 |
|
||||
| OTHER (EXPENSE) INCOME—NET |
|
(2,057 |
) |
|
1,253 |
|
|
(7,154 |
) |
|
4,191 |
|
||||
| PRETAX INCOME (LOSS) |
|
5,797 |
|
|
25,752 |
|
|
(24,977 |
) |
|
20,917 |
|
||||
| INCOME TAX BENEFIT (PROVISION) |
|
7,163 |
|
|
(4,307 |
) |
|
20,516 |
|
|
(69 |
) |
||||
| NET INCOME (LOSS) INCLUDING NON-CONTROLLING INTEREST |
|
12,960 |
|
|
21,445 |
|
|
(4,461 |
) |
|
20,848 |
|
||||
| LESS: ACCRETION OF REDEEMABLE NON-CONTROLLING INTEREST |
|
— |
|
|
(1,221 |
) |
|
(1,276 |
) |
|
(2,363 |
) |
||||
| NET INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT SOLUTIONS HOLDINGS INC. COMMON STOCKHOLDERS |
$ |
12,960 |
|
$ |
20,224 |
|
$ |
(5,737 |
) |
$ |
18,485 |
|
||||
| Net income (loss) per share attributable to common stockholders: | ||||||||||||||||
| Basic | $ |
0.02 |
|
$ |
0.03 |
|
$ |
(0.01 |
) |
$ |
0.03 |
|
||||
| Diluted | $ |
0.02 |
|
$ |
0.03 |
|
$ |
(0.01 |
) |
$ |
0.03 |
|
||||
| Weighted-average shares used in computing net income (loss) per share attributable to common stockholders: |
||||||||||||||||
| Basic |
|
637,578,033 |
|
|
609,997,114 |
|
|
637,207,185 |
|
|
604,138,246 |
|
||||
| Diluted |
|
660,622,703 |
|
|
638,367,745 |
|
|
637,207,185 |
|
|
636,990,633 |
|
||||
| COMPREHENSIVE INCOME (LOSS): | ||||||||||||||||
| Net income (loss) including non-controlling interest |
|
12,960 |
|
|
21,445 |
|
|
(4,461 |
) |
|
20,848 |
|
||||
| Other comprehensive (loss) income—Foreign currency translation adjustment |
|
53 |
|
|
(16 |
) |
|
38 |
|
|
(91 |
) |
||||
| COMPREHENSIVE INCOME (LOSS) INCLUDING NON-CONTROLLING INTEREST |
|
13,013 |
|
|
21,429 |
|
|
(4,423 |
) |
|
20,757 |
|
||||
| Less: accretion of redeemable non-controlling interest |
|
— |
|
|
(1,221 |
) |
|
(1,276 |
) |
|
(2,363 |
) |
||||
| COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT SOLUTIONS HOLDINGS INC. COMMON STOCKHOLDERS |
$ |
13,013 |
|
$ |
20,208 |
|
$ |
(5,699 |
) |
$ |
18,394 |
|
||||
| CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| (In thousands) | ||||||||
| (Unaudited) | ||||||||
| For the Six Months Ended | ||||||||
| June 30, | ||||||||
|
2025 |
|
|
2024 |
|
|||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||
| Net (loss) income | $ |
(4,461 |
) |
$ |
20,848 |
|
||
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||||||||
| Depreciation and amortization of software, equipment, and property |
|
27,373 |
|
|
19,160 |
|
||
| Amortization of intangible assets |
|
45,761 |
|
|
44,541 |
|
||
| Deferred income taxes |
|
(20,516 |
) |
|
(24,738 |
) |
||
| Stock-based compensation |
|
107,023 |
|
|
85,096 |
|
||
| Amortization of deferred financing fees |
|
935 |
|
|
927 |
|
||
| Amortization of discount on debt |
|
82 |
|
|
125 |
|
||
| Change in fair value of derivative instruments |
|
8,381 |
|
|
134 |
|
||
| Change in fair value of warrant liabilities |
|
— |
|
|
(14,378 |
) |
||
| Loss on disposal of software, equipment and property |
|
— |
|
|
302 |
|
||
| Noncash interest expense |
|
763 |
|
|
— |
|
||
| Other |
|
— |
|
|
68 |
|
||
| Changes in: | ||||||||
| Accounts receivable—Net |
|
(25,488 |
) |
|
(18,553 |
) |
||
| Deferred contract costs |
|
(785 |
) |
|
(1,527 |
) |
||
| Other current assets |
|
2,069 |
|
|
5,860 |
|
||
| Deferred contract costs—Non-current |
|
(1,589 |
) |
|
636 |
|
||
| Other assets |
|
(1,078 |
) |
|
391 |
|
||
| Operating lease assets |
|
1,328 |
|
|
1,152 |
|
||
| Income taxes |
|
(27,824 |
) |
|
(5,769 |
) |
||
| Accounts payable |
|
(823 |
) |
|
4,633 |
|
||
| Accrued expenses |
|
(9,231 |
) |
|
(12,739 |
) |
||
| Operating lease liabilities |
|
(2,307 |
) |
|
(2,236 |
) |
||
| Deferred revenues |
|
4,838 |
|
|
2,437 |
|
||
| Other liabilities |
|
(2,903 |
) |
|
639 |
|||
| Net cash provided by operating activities |
|
101,548 |
|
|
107,009 |
|
||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||
| Purchases of software, equipment, and property |
|
(30,549 |
) |
|
(31,224 |
) |
||
| Acquisition of EvolutionIQ, Inc., net of cash acquired |
|
(415,133 |
) |
|
— |
|
||
| Net cash used in investing activities |
|
(445,682 |
) |
|
(31,224 |
) |
||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||
| Proceeds from exercise of stock options |
|
1,934 |
|
|
21,561 |
|
||
| Proceeds from employee stock purchase plan |
|
1,650 |
|
|
1,833 |
|
||
| Payments for employee taxes withheld upon vesting of equity awards |
|
(44,352 |
) |
|
(52,722 |
) |
||
| Repurchase of common stock |
|
(172,495 |
) |
|
— |
|
||
| Proceeds from issuance of long-term debt |
|
225,000 |
|
|
— |
|
||
| Payments of fees associated with the debt modification |
|
(6,565 |
) |
|
— |
|
||
| Principal payments on long-term debt |
|
(5,005 |
) |
|
(4,000 |
) |
||
| Net cash provided by (used in) financing activities |
|
167 |
|
|
(33,328 |
) |
||
| NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS |
|
37 |
|
|
(136 |
) |
||
| NET CHANGE IN CASH AND CASH EQUIVALENTS |
|
(343,930 |
) |
|
42,321 |
|
||
| CASH AND CASH EQUIVALENTS: | ||||||||
| Beginning of period |
|
398,983 |
|
|
195,572 |
|
||
| End of period | $ |
55,053 |
|
$ |
237,893 |
|
||
| NONCASH INVESTING AND FINANCING ACTIVITIES: | ||||||||
| Stock issued related the acquisition of EvolutionIQ, Inc. | $ |
250,441 |
|
$ |
— |
|
||
| Issuance of promissory note to minority investor of redeemable preferred securities | $ |
22,955 |
|
$ |
— |
|||
| Noncash purchases of software, equipment, and property | $ |
— |
|
$ |
7,218 |
|
||
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||||||||
| Cash paid for interest | $ |
33,616 |
|
$ |
31,739 |
|
||
| Cash paid for income taxes—Net | $ |
26,628 |
|
$ |
30,567 |
|
||
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
RECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT |
||||||||||||||||
(In thousands, except profit margin percentage data) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (amounts in thousands, except percentages) |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
| Gross Profit | $ |
194,016 |
|
$ |
177,297 |
|
$ |
379,008 |
|
$ |
345,160 |
|
||||
| Amortization of acquired technologies |
|
4,368 |
|
|
2,090 |
|
|
8,737 |
|
|
8,657 |
|
||||
| Stock-based compensation and related employer payroll tax |
|
4,137 |
|
|
2,693 |
|
|
7,238 |
|
|
5,280 |
|
||||
| Adjusted Gross Profit | $ |
202,521 |
|
$ |
182,080 |
|
$ |
394,983 |
|
$ |
359,097 |
|
||||
| Gross Profit Margin |
|
74 |
% |
|
76 |
% |
|
74 |
% |
|
75 |
% |
||||
| Adjusted Gross Profit Margin |
|
78 |
% |
|
78 |
% |
|
77 |
% |
|
77 |
% |
||||
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
RECONCILIATION OF GAAP OPERATING EXPENSES TO ADJUSTED OPERATING EXPENSES |
||||||||||||||||
(In thousands) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (dollar amounts in thousands) |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
| Operating expenses | $ |
169,546 |
|
$ |
154,784 |
|
$ |
365,236 |
|
$ |
314,850 |
|
||||
| Amortization of intangible assets |
|
(18,512 |
) |
|
(17,942 |
) |
|
(37,024 |
) |
|
(35,884 |
) |
||||
| Stock-based compensation expense and related employer payroll tax |
|
(42,121 |
) |
|
(38,075 |
) |
|
(104,939 |
) |
|
(85,520 |
) |
||||
| M&A and integration costs |
|
(348 |
) |
|
— |
|
|
(7,967 |
) |
|
(477 |
) |
||||
| Equity transaction costs, including secondary offerings |
|
(165 |
) |
|
(1,046 |
) |
|
(452 |
) |
|
(1,738 |
) |
||||
| Litigation (costs) proceeds, net |
|
(125 |
) |
|
(1,624 |
) |
|
3,665 |
|
|
(2,200 |
) |
||||
| Debt refinancing costs |
|
— |
|
|
— |
|
|
(3,119 |
) |
|
— |
|
||||
| Adjusted Operating Expenses | $ |
108,275 |
|
$ |
96,097 |
|
$ |
215,400 |
|
$ |
189,031 |
|
||||
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES |
|||||||||||||
RECONCILIATION OF GAAP OPERATING (LOSS) INCOME TO ADJUSTED OPERATING INCOME |
|||||||||||||
(In thousands) |
|||||||||||||
(Unaudited) |
|||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||
| (dollar amounts in thousands) |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
|
2024 |
|
| Operating income | $ |
24,470 |
$ |
22,513 |
$ |
13,772 |
|
$ |
30,310 |
||||
| Amortization of intangible assets |
|
18,512 |
|
17,942 |
|
37,024 |
|
|
35,884 |
||||
| Amortization of acquired technologies—Cost of revenue |
|
4,368 |
|
2,090 |
|
8,737 |
|
|
8,657 |
||||
| Stock-based compensation expense and related employer payroll tax |
|
46,258 |
|
40,768 |
|
112,177 |
|
|
90,800 |
||||
| M&A and integration costs |
|
348 |
|
— |
|
7,967 |
|
|
477 |
||||
| Equity transaction costs, including secondary offerings |
|
165 |
|
1,046 |
|
452 |
|
|
1,738 |
||||
| Litigation costs (proceeds), net |
|
125 |
|
1,624 |
|
(3,665 |
) |
|
2,200 |
||||
| Debt refinancing costs |
|
— |
|
— |
|
3,119 |
|
|
— |
||||
| Adjusted Operating Income | $ |
94,246 |
$ |
85,983 |
$ |
179,583 |
|
$ |
170,066 |
||||
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
RECONCILIATION OF GAAP NET LOSS TO ADJUSTED EBITDA |
||||||||||||||||
(In thousands, except for EBITDA margin percentage data) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (dollar amounts in thousands) |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
| Net income (loss) | $ |
12,960 |
|
$ |
21,445 |
|
$ |
(4,461 |
) |
$ |
20,848 |
|
||||
| Interest expense |
|
17,836 |
|
|
16,602 |
|
|
34,763 |
|
|
33,054 |
|
||||
| Interest income |
|
(1,220 |
) |
|
(2,625 |
) |
|
(3,168 |
) |
|
(5,092 |
) |
||||
| Income tax provision (benefit) |
|
(7,163 |
) |
|
4,307 |
|
|
(20,516 |
) |
|
69 |
|
||||
| Amortization of intangible assets |
|
18,512 |
|
|
17,942 |
|
|
37,024 |
|
|
35,884 |
|
||||
| Amortization of acquired technologies—Cost of revenue |
|
4,368 |
|
|
2,090 |
|
|
8,737 |
|
|
8,657 |
|
||||
| Depreciation and amortization of software, equipment and property |
|
2,231 |
|
|
2,299 |
|
|
4,495 |
|
|
4,164 |
|
||||
| Depreciation and amortization of software, equipment and property—Cost of revenue |
|
11,548 |
|
|
7,418 |
|
|
22,878 |
|
|
14,996 |
|
||||
| Stock-based compensation expense and related employer payroll tax |
|
46,258 |
|
|
40,768 |
|
|
112,177 |
|
|
90,800 |
|
||||
| M&A and integration costs |
|
348 |
|
|
— |
|
|
7,967 |
|
|
477 |
|
||||
| Equity transaction costs, including secondary offerings |
|
165 |
|
|
1,046 |
|
|
452 |
|
|
1,738 |
|
||||
| Litigation costs (proceeds), net |
|
125 |
|
|
1,624 |
|
|
(3,665 |
) |
|
2,200 |
|
||||
| Debt refinancing costs |
|
— |
|
|
— |
|
|
3,119 |
|
|
— |
|
||||
| Change in fair value of derivative instruments |
|
2,640 |
|
|
852 |
|
|
8,381 |
|
|
134 |
|
||||
| Income from derivative instruments |
|
(492 |
) |
|
(2,008 |
) |
|
(989 |
) |
|
(4,039 |
) |
||||
| Change in fair value of warrant liabilities |
|
— |
|
|
(15,963 |
) |
|
— |
|
|
(14,378 |
) |
||||
| Adjusted EBITDA | $ |
108,116 |
|
$ |
95,797 |
|
$ |
207,194 |
|
$ |
189,512 |
|
||||
| Adjusted EBITDA Margin |
|
42 |
% |
|
41 |
% |
|
40 |
% |
|
40 |
% |
||||
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
RECONCILIATION OF GAAP NET LOSS TO ADJUSTED NET INCOME |
||||||||||||||||
(In thousands, except share and per share data) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (dollar amounts in thousands) |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
| Net income (loss) | $ |
12,960 |
|
$ |
21,445 |
|
$ |
(4,461 |
) |
$ |
20,848 |
|
||||
| Amortization of intangible assets |
|
18,512 |
|
|
17,942 |
|
|
37,024 |
|
|
35,884 |
|
||||
| Amortization of acquired technologies—Cost of revenue |
|
4,368 |
|
|
2,090 |
|
|
8,737 |
|
|
8,657 |
|
||||
| Stock-based compensation expense and related employer payroll tax |
|
46,258 |
|
|
40,768 |
|
|
112,177 |
|
|
90,800 |
|
||||
| M&A and integration costs |
|
348 |
|
|
— |
|
|
7,967 |
|
|
477 |
|
||||
| Equity transaction costs, including secondary offerings |
|
165 |
|
|
1,046 |
|
|
452 |
|
|
1,738 |
|
||||
| Litigation costs (proceeds), net |
|
125 |
|
|
1,624 |
|
|
(3,665 |
) |
|
2,200 |
|
||||
| Debt refinancing costs |
|
— |
|
|
— |
|
|
3,119 |
|
|
— |
|
||||
| Change in fair value of derivative instruments |
|
2,640 |
|
|
852 |
|
|
8,381 |
|
|
134 |
|
||||
| Change in fair value of warrant liabilities |
|
— |
|
|
(15,963 |
) |
|
— |
|
|
(14,378 |
) |
||||
| Tax effect of adjustments |
|
(26,521 |
) |
|
(13,618 |
) |
|
(56,394 |
) |
|
(35,384 |
) |
||||
| Adjusted Net Income | $ |
58,855 |
|
$ |
56,186 |
|
$ |
113,337 |
|
$ |
110,976 |
|
||||
| Adjusted Net Income Per Share attributable to common stockholders: | ||||||||||||||||
| Basic | $ |
0.09 |
|
$ |
0.09 |
|
$ |
0.18 |
|
$ |
0.18 |
|
||||
| Diluted | $ |
0.09 |
|
$ |
0.09 |
|
$ |
0.17 |
|
$ |
0.17 |
|
||||
| Weighted average shares outstanding: | ||||||||||||||||
| Basic |
|
637,578,033 |
|
|
609,997,114 |
|
|
637,207,185 |
|
|
604,138,246 |
|
||||
| Diluted |
|
660,622,703 |
|
|
638,367,745 |
|
|
666,130,181 |
|
|
636,990,633 |
|
||||
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES |
||||||||||||||||
RECONCILIATION OF NET CASH FLOW FROM OPERATING ACTIVITIES TO FREE CASH FLOW |
||||||||||||||||
(In thousands) |
||||||||||||||||
(Unaudited) |
||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (dollar amounts in thousands) |
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
| Net cash provided by operating activities | $ |
43,056 |
|
$ |
51,774 |
|
$ |
101,548 |
|
$ |
107,009 |
|
||||
| Purchases of software, equipment, and property |
|
(15,703 |
) |
|
(15,561 |
) |
|
(30,549 |
) |
|
(31,224 |
) |
||||
| Free Cash Flow | $ |
27,353 |
|
$ |
36,213 |
|
$ |
70,999 |
|
$ |
75,785 |
|
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250730532152/en/
Investor:
Bill Warmington
VP, Investor Relations, CCC Intelligent Solutions Inc.
312-229-2355
IR@cccis.com
Media:
Michelle Hellyar
Senior Director, Public Relations, CCC Intelligent Solutions Inc.
mhellyar@cccis.com
Source: CCC Intelligent Solutions Inc.
