CCC Intelligent Solutions Holdings Inc. SEC 10-Q Report

CCC Intelligent Solutions Holdings Inc., a leading provider of AI-powered solutions for the insurance industry, has released its Form 10-Q report for the first quarter of 2025. The report highlights the company's financial performance and key business developments, including the impact of recent acquisitions and strategic initiatives aimed at expanding its product offerings and market reach.

Financial Highlights

• Total Revenue: $251.6 million, increased by 10.7% compared to the same period last year, driven by growth from existing customer upgrades, the acquisition of EvolutionIQ, and new customers.
• Gross Profit: $185.0 million, representing a gross profit margin of 73.5%, slightly down from 73.9% in the prior year, due to increased software subscription revenues and economies of scale.
• Operating (Loss) Income: $(10.7) million, compared to an operating income of $7.8 million in the prior year, reflecting increased operating expenses primarily due to the acquisition of EvolutionIQ.
• Net Loss Including Non-Controlling Interest: $(17.4) million, significantly higher than the $(0.6) million loss in the prior year, impacted by increased operating expenses and other expenses.
• Net Loss Attributable to CCC Intelligent Solutions Holdings Inc. Common Stockholders: $(18.7) million, compared to $(1.7) million in the prior year, reflecting the impact of acquisition-related costs and increased stock-based compensation.
• Net Loss Per Share: $(0.03), consistent with the prior year, reflecting the increased net loss attributable to common stockholders.

Business Highlights

• Revenue Segments: The company's software subscription revenues accounted for 96% of total revenue during the three months ended March 31, 2025, with significant growth driven by existing customer upgrades, expanding solution offerings, and the acquisition of EvolutionIQ.
• Geographical Performance: The United States remains the primary market, contributing $249.9 million to total revenues, while China contributed $1.7 million, indicating stable performance in both regions.
• New Product Launches: The acquisition of EvolutionIQ in January 2025 expanded CCC's solution suite to include claims solutions in disability and workers’ compensation insurance lines, enhancing the company's product offerings.
• Operational Expansion: The acquisition of EvolutionIQ is expected to broaden CCC's portfolio of AI-based solutions available to its insurance customers, leveraging EvolutionIQ’s platform for disability and injury claims management.
• Future Outlook: CCC is investing in new solutions to digitize the entire automotive claims lifecycle and expand into adjacent insurance lines, positioning itself to power the insurance economy of the future with its data, network, and platform.

SEC Filing: CCC Intelligent Solutions Holdings Inc. [ CCCS ] - 10-Q - May. 06, 2025