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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CCC Intelligent Solutions Holdings Inc | NYSE:CCCS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 8.79 | 0 | 01:00:00 |
CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NYSE: CCCS), a leading SaaS platform for the P&C insurance economy, today announced its financial results for the three months ended September 30, 2022, and raised revenue and adjusted EBITDA guidance for fiscal year 2022.
“CCC delivered strong third quarter results, highlighted by 13% revenue growth and 39% adjusted EBITDA margin. Our solid performance is a byproduct of CCC’s unique platform that combines an efficient technology framework, close customer relationships, and a multi-sided network benefitting all parties,” said Githesh Ramamurthy, Chairman & CEO of CCC.
“Our efficient financial model enables continuous investment in innovation and we have a long history of developing solutions to solve problems for our customers. As a result, we are well-positioned to provide our customers with digital solutions that help address the macro environment and support our clients in their digital transformation,” continued Ramamurthy.
Third Quarter 2022 Financial Highlights
Revenue
Profitability
Liquidity
The information presented above includes non-GAAP financial measures such as “adjusted gross profit,” “adjusted gross profit margin,” “adjusted operating income,” “adjusted net income,” “adjusted EBITDA,” and “free cash flow.” Refer to “Non-GAAP Financial Measures” for a discussion of these measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.
3rd Quarter and Recent Business Highlights
Business Outlook
Based on information as of today, November 4, 2022, the Company is issuing the following financial guidance:
Fourth Quarter Fiscal 2022
Full Year Fiscal 2022
Revenue
$200 million to $202 million
$779 million to $781 million
Adjusted EBITDA
$77 million to $79 million
$302 million to $304 million
Conference Call Information
CCC will host a conference call today, November 4, 2022, at 8:00 a.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., a subsidiary of CCC Intelligent Solutions Holdings Inc. (NYSE: CCCS), is a leading SaaS platform for the multi-trillion-dollar P&C insurance economy powering operations for insurers, repairers, automakers, part suppliers, lenders, and more. CCC cloud technology connects more than 30,000 businesses digitizing mission-critical workflows, commerce, and customer experiences. A trusted leader in AI, IoT, customer experience, network and workflow management, CCC delivers innovations that keep people’s 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, statements regarding 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 COVID-19 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; 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 and products; 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 China and other countries; currency fluctuations; our reliance on third-party data, technology and intellectual property; our ability to protect our intellectual property; our ability to keep our data and information systems secure from data security breaches; our ability to acquire or invest in companies or pursue business partnerships, which may divert our management’s attention or result in dilution to our stockholders, and we may be unable to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions, investments or partnership; our ability to raise financing in the future and improve our capital structure; our success in retaining or recruiting, or changes required in, our officers, key employees or directors; our officers and directors allocating their time to other businesses and potentially having conflicts of interest with our business; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our financial performance; our ability to expand or maintain its existing customer base; our ability to service our indebtedness; and other risks and uncertainties, including those included under the header “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”), which can be obtained, without charge, at the SEC’s website (www.sec.gov), and in our other filings with the SEC. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.
Non-GAAP Financial Measures
This press release includes certain financial measures not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”), including, but not limited to, “adjusted EBITDA,” “adjusted net income,” “adjusted operating income,” “adjusted gross profit,” “adjusted gross profit margin,” “adjusted operating expenses,” and “free cash flow” in each case presented on a non-GAAP basis, and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company’s calculation of these non-GAAP measures may not be comparable to similarly-titled measures used by other companies.
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 in 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)September 30,
December 31,
2022
2021
(Unaudited) ASSETS CURRENT ASSETS: Cash and cash equivalents248,153
182,544
Accounts receivable—Net of allowances of $4,690 and $3,791 as of September 30, 2022 and December 31, 2021, respectively
98,194
78,793
Income taxes receivable
71
318
Deferred contract costs
15,788
15,069
Other current assets
33,898
46,181
Total current assets
396,104
322,905
SOFTWARE, EQUIPMENT, AND PROPERTY—Net
147,531
135,845
OPERATING LEASE ASSETS
34,901
37,234
INTANGIBLE ASSETS—Net
1,143,630
1,213,249
GOODWILL
1,494,267
1,466,884
DEFERRED FINANCING FEES, REVOLVER—Net
2,439
2,899
DEFERRED CONTRACT COSTS
18,818
22,117
EQUITY METHOD INVESTMENT
10,228
10,228
OTHER ASSETS
49,999
26,165
TOTAL
3,297,917
3,237,526
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY CURRENT LIABILITIES: Accounts payable
14,579
12,918
Accrued expenses
63,873
66,691
Income taxes payable
17,025
7,243
Current portion of long-term debt
8,000
8,000
Current portion of long-term licensing agreement—Net
2,832
2,703
Operating lease liabilities
3,713
8,052
Deferred revenues
33,602
31,042
Total current liabilities
143,624
136,649
LONG-TERM DEBT—Net
775,770
780,610
DEFERRED INCOME TAXES—Net
222,370
275,745
LONG-TERM LICENSING AGREEMENT—Net
31,488
33,629
OPERATING LEASE LIABILITIES
58,111
56,133
WARRANT LIABILITIES
39,026
62,478
OTHER LIABILITIES
2,729
5,785
Total liabilities
1,273,118
1,351,029
COMMITMENTS AND CONTINGENCIES (Notes 19 and 20) MEZZANINE EQUITY: Redeemable non-controlling interest
14,179
14,179
STOCKHOLDERS’ EQUITY: Preferred stock—$0.0001 par; 100,000,000 shares authorized; no shares issued or outstanding
—
—
Common stock—$0.0001 par; 5,000,000,000 shares authorized; 620,117,025 and 609,768,296 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively
62
61
Additional paid-in capital
2,720,695
2,618,924
Accumulated deficit
(709,018
)
(746,352
)
Accumulated other comprehensive loss(1,119
)
(315
)
Total stockholders’ equity2,010,620
1,872,318
TOTAL
3,297,917
3,237,526
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (In thousands, except share and per share data) (Unaudited)
For the Three Months Ended
For the Nine Months Ended
September 30,
September 30,
2022
2021
2022
2021
REVENUES$
198,734
$
176,628
$
578,342
$
501,205
COST OF REVENUES Cost of revenues, exclusive of amortization of acquired technologies
46,379
51,273
135,174
128,218
Amortization of acquired technologies
6,748
6,580
20,193
19,740
Total cost of revenues
53,127
57,853
155,367
147,958
GROSS PROFIT
145,607
118,775
422,975
353,247
OPERATING EXPENSES: Research and development
40,273
67,016
114,711
128,894
Selling and marketing
30,838
80,382
88,731
121,350
General and administrative
39,376
142,511
123,093
208,745
Amortization of intangible assets
18,066
18,078
54,212
54,232
Total operating expenses
128,553
307,987
380,747
513,221
OPERATING INCOME (LOSS)
17,054
(189,212
)
42,228
(159,974
)
INTEREST EXPENSE
(10,501
)
(13,878
)
(25,786
)
(51,548
)
CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS
5,991
2,007
5,991
8,373
CHANGE IN FAIR VALUE OF WARRANT LIABILITIES
312
(26,889
)
23,452
(26,889
)
GAIN ON SALE OF COST METHOD INVESTMENT
9
—
3,587
—
LOSS ON EARLY EXTINGUISHMENT OF DEBT
—
(15,240
)
—
(15,240
)
OTHER INCOME (LOSS)—Net
382
(93
)
576
1
PRETAX INCOME (LOSS)
13,247
(243,305
)
50,048
(245,277
)
INCOME TAX (PROVISION) BENEFIT
(3,452
)
53,523
(12,714
)
54,227
NET INCOME (LOSS) INCLUDING NON-CONTROLLING INTEREST
9,795
(189,782
)
37,334
(191,050
)
Less: net income (loss) attributable to non-controlling interest
—
—
—
—
NET INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT SOLUTIONS HOLDINGS INC.
$
9,795
$
(189,782
)
$
37,334
$
(191,050
)
Net income (loss) per share attributable to common stockholders: Basic$
0.02
$
(0.34
)
$
0.06
$
(0.36
)
Diluted$
0.02
$
(0.34
)
$
0.06
$
(0.36
)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders: Basic
609,421,073
566,454,782
606,181,316
525,877,533
Diluted
643,582,922
566,454,782
642,208,622
525,877,533
COMPREHENSIVE INCOME (LOSS): Net income (loss) including non-controlling interest
9,795
(189,782
)
37,334
(191,050
)
Other comprehensive income (loss)—Foreign currency translation adjustment
(510
)
11
(804
)
(18
)
COMPREHENSIVE INCOME (LOSS) INCLUDING NON-CONTROLLING INTEREST
9,285
(189,771
)
36,530
(191,068
)
Less: comprehensive income (loss) attributable to non-controlling interest
—
—
—
—
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO CCC INTELLIGENT SOLUTIONS HOLDINGS INC.
$
9,285
$
(189,771
)
$
36,530
$
(191,068
)
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited)For the Nine Months Ended
September 30,
2022
2021
CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss)$
37,334
$
(191,050
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization of software, equipment, and property
20,155
18,161
Amortization of intangible assets
74,405
73,972
Deferred income taxes
(53,061
)
(66,499
)
Stock-based compensation
80,769
235,413
Amortization of deferred financing fees
1,424
3,204
Amortization of discount on debt
196
537
Change in fair value of derivative instruments
(5,991
)
(8,373
)
Change in fair value of warrant liabilities
(23,452
)
26,889
Loss on early extinguishment of debt
—
15,240
Non-cash lease expense
3,076
5,029
Loss on disposal of software, equipment and property
795
—
Gain on sale of cost method investment
(3,587
)
—
Other
101
54
Changes in: Accounts receivable—Net
(19,532
)
(8,332
)
Deferred contract costs
(719
)
(1,916
)
Other current assets
12,321
(4,673
)
Deferred contract costs—Non-current
3,299
(4,504
)
Other assets
(18,227
)
(3,221
)
Operating lease assets
1,623
5,133
Income taxes
10,029
(2,846
)
Accounts payable
2,466
1,399
Accrued expenses
(2,664
)
17,051
Operating lease liabilities
(4,687
)
(5,935
)
Deferred revenues
2,557
2,861
Extinguishment of interest rate swap liability
—
(9,987
)
Other liabilities
(192
)
(882
)
Net cash provided by operating activities
118,438
96,725
CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of software, equipment, and property
(38,844
)
(25,022
)
Acquisition of Safekeep, Inc., net of cash acquired
(32,242
)
Purchase of equity method investment
—
(10,228
)
Proceeds from sale of cost method investment
3,901
Purchase of intangible asset
—
(49
)
Net cash used in investing activities
(67,185
)
(35,299
)
CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from exercise of stock options
22,814
503
Proceeds from employee stock purchase plan
3,197
—
Payments for employee taxes withheld upon vesting of equity awards
(5,005
)
—
Principal payments on long-term debt
(6,000
)
(1,336,154
)
Deemed distribution to CCCIS option holders
—
(9,006
)
Net proceeds from equity infusion from the Business Combination
—
763,300
Proceeds from issuance of long-term debt, net of fees paid to lender
—
789,927
Proceeds from issuance of common stock
—
1,007
Payment of fees associated with early extinguishment of long-term debt
—
(3,320
)
Dividends to CCCIS stockholders
—
(269,174
)
Net cash provided by (used in) financing activities
15,006
(62,917
)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
(650
)
(162
)
NET CHANGE IN CASH AND CASH EQUIVALENTS
65,609
(1,653
)
CASH AND CASH EQUIVALENTS: Beginning of period
182,544
162,118
End of period
$
248,153
$
160,465
NONCASH INVESTING AND FINANCING ACTIVITIES: Noncash purchases of software, equipment, and property
$
—
$
4,054
Leasehold improvements acquired by tenant improvement allowance
$
—
$
10,556
Contingent consideration related to business acquisition
$
200
$
—
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: Cash paid for interest
$
24,150
$
47,312
Cash paid for income taxes—Net
$
55,526
$
15,119
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 September 30,
Nine Months Ended September 30,
(amounts in thousands, except percentages)2022
2021
2022
2021
Gross Profit$
145,607
$
118,775
$
422,975
$
353,247
Amortization of acquired technologies
6,748
6,580
20,193
19,740
Business combination transaction costs
—
905
—
905
Stock-based compensation and related employer payroll tax
1,765
12,169
4,378
12,563
Adjusted Gross Profit
$
154,120
$
138,429
$
447,546
$
386,455
Gross Profit Margin
73
%
67
%
73
%
70
%
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 September 30,
Nine Months Ended September 30,
(dollar amounts in thousands)2022
2021
2022
2021
Operating expenses$
128,553
$
307,987
$
380,747
$
513,221
Stock-based compensation expense and related employer payroll tax
(27,800
)
(207,707
)
(78,496
)
(222,850
)
Lease abandonment
—
(438
)
(1,222
)
(3,181
)
Lease overlap costs
—
(924
)
(1,338
)
(1,848
)
Net income (costs) related to divestiture
471
(338
)
418
(2,605
)
Business combination transaction and related costs
(101
)
(5,516
)
(1,156
)
(10,471
)
M&A and integration costs
(6
)
—
(1,761
)
—
Amortization of intangible assets
(18,066
)
(18,078
)
(54,212
)
(54,232
)
Adjusted operating expenses$
83,051
$
74,986
$
242,980
$
218,034
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP OPERATING INCOME (LOSS) TO ADJUSTED OPERATING INCOME
(In thousands)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(dollar amounts in thousands)
2022
2021
2022
2021
Operating income (loss)$
17,054
$
(189,212
)
$
42,228
$
(159,974
)
Stock-based compensation expense and related employer payroll tax
29,565
219,876
82,874
235,413
Lease abandonment
—
438
1,222
3,181
Lease overlap costs
—
924
1,338
1,848
Net (income) costs related to divestiture
(471
)
338
(418
)
2,605
Business combination transaction and related costs
101
5,516
1,156
10,471
M&A and integration costs
6
—
1,761
—
Amortization of intangible assets
18,066
18,078
54,212
54,232
Amortization of acquired technologies—Cost of revenue
6,748
6,580
20,193
19,740
Adjusted operating income
$
71,069
$
62,538
$
204,566
$
167,516
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA
(In thousands, except for EBITDA margin percentage data)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(dollar amounts in thousands)2022
2021
2022
2021
Net income (loss)$
9,795
$
(189,782
)
$
37,334
$
(191,050
)
Interest expense
10,501
13,878
25,786
51,548
Income tax provision (benefit)
3,452
(53,523
)
12,714
(54,227
)
Amortization of intangible assets
18,066
18,078
54,212
54,232
Amortization of acquired technologies—Cost of revenue
6,748
6,580
20,193
19,740
Depreciation and amortization of software, equipment and property
6,665
7,694
20,155
18,161
EBITDA
55,227
(197,075
)
170,394
(101,596
)
Change in fair value of derivative instruments
(5,991
)
(2,007
)
(5,991
)
(8,373
)
Change in fair value of warrant liabilities
(312
)
26,889
(23,452
)
26,889
Loss on early extinguishment of debt
—
15,240
—
15,240
Stock-based compensation expense and related employer payroll tax
29,565
219,876
82,874
235,413
Business combination transaction and related costs
101
5,516
1,156
10,471
Lease abandonment
—
438
1,338
3,181
Lease overlap costs
—
924
1,222
1,848
Net (income) costs related to divestiture
(471
)
338
(418
)
2,605
M&A and integration costs
6
—
1,761
—
Gain on sale of cost method investment
(9
)
—
(3,587
)
—
Adjusted EBITDA
$
78,116
$
70,139
$
225,297
$
185,678
Adjusted EBITDA Margin
39.3
%
39.7
%
39.0
%
37.0
%
CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP NET INCOME (LOSS) TO ADJUSTED NET INCOME
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended September 30,
Nine Months Ended September 30,
(dollar amounts in thousands)2022
2021
2022
2021
Net income (loss)$
9,795
$
(189,782
)
$
37,334
$
(191,050
)
Amortization of intangible assets
18,066
18,078
54,212
54,232
Amortization of acquired technologies—Cost of revenue
6,748
6,580
20,193
19,740
Change in fair value of derivative instruments
(5,991
)
(2,007
)
(5,991
)
(8,373
)
Change in fair value of warrant liabilities
(312
)
26,889
(23,452
)
26,889
Loss on early extinguishment of debt
—
15,240
—
15,240
Stock-based compensation expense and related employer payroll tax
29,565
219,876
82,874
235,413
Business combination transaction and related costs
101
5,516
1,156
10,471
Lease abandonment
—
438
1,222
3,181
Lease overlap costs
—
924
1,338
1,848
Net (income) costs related to divestiture
(471
)
338
(418
)
2,605
M&A and integration costs
6
—
1,761
—
Gain on sale of cost method investment
(9
)
—
(3,587
)
—
Tax effect of adjustments
(10,894
)
(72,360
)
(34,193
)
(89,134
)
Adjusted net income$
46,604
$
29,730
$
132,449
$
81,062
Adjusted net income per share attributable to common stockholders: Basic
$
0.08
$
0.05
$
0.22
$
0.15
Diluted
$
0.07
$
0.05
$
0.21
$
0.15
Weighted average shares outstanding: Basic
609,421,073
566,454,782
606,181,316
525,877,533
Diluted
643,582,922
599,675,416
642,208,622
554,818,300
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
September 30,
Nine Months Ended
September 30,
(dollar amounts in thousands)2022
2021
2022
2021
Net cash provided by operating activities$
30,753
$
36,905
$
118,438
$
96,725
Less: Purchases of software, equipment, and property
(13,375
)
(11,864
)
(38,844
)
(25,022
)
Less: Purchase of intangible assets
—
—
—
(49
)
Free Cash Flow$
17,378
$
25,041
$
79,594
$
71,654
View source version on businesswire.com: https://www.businesswire.com/news/home/20221102005861/en/
Investor: Bill Warmington VP, Investor Relations, CCC Intelligent Solutions Inc. 312-229-2355 IR@cccis.com
Media: Michelle Hellyar Director Public Relations, CCC Intelligent Solutions Inc. mhellyar@cccis.com
1 Year CCC Intelligent Solutions Chart |
1 Month CCC Intelligent Solutions Chart |
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