CCC Intelligent Solutions (CCCS)

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CCC Intelligent Solutions (CCCS) - 2022 Q4 - Earnings Call Transcript
2023-03-02 04:08
Financial Data and Key Metrics Changes - Total revenue for fiscal year 2022 was $782 million, up 14% year-over-year, exceeding initial guidance by 2% [65] - Adjusted EBITDA for fiscal year 2022 was $305 million, 4% above initial guidance and more than double the 2018 adjusted EBITDA of $148 million, reflecting a compounded annual growth rate of 20% [65] - For Q4 2022, total revenue was $204 million, up 9% year-over-year, and adjusted EBITDA was $80 million, also ahead of guidance [86][130] - Adjusted gross profit for fiscal year 2022 was $605 million, with a margin of 77%, slightly down from 78% in the previous year [106] - Free cash flow for fiscal year 2022 was $152 million, compared to $89 million in fiscal year 2021, with a conversion rate of approximately 59% of adjusted EBITDA into unlevered free cash flow [136] Business Line Data and Key Metrics Changes - The number of claims processed using four or more of the company's AI applications doubled year-over-year in 2022 [69] - The company added over 1,000 rooftops in its repair facility customer group in 2022, ending the year with over 28,000 repair facilities in its network [70] - The parts customer group now has over 4,500 parts suppliers, with electronic parts ordering adoption growing from 10% in 2020 to 15% in 2022 [72][94] - Approximately one-third of revenue growth in 2022 came from solutions introduced in the past several years, confirming the effectiveness of the innovation strategy [81] Market Data and Key Metrics Changes - The average time to repair a vehicle after an accident increased from about four weeks in 2019 to about ten weeks currently, impacting consumer satisfaction [89] - The company processed more claims in 2022 than in any other year in its 42-year history, indicating strong market demand [90] - The adoption of integrated solutions for diagnostics is still low, with only about 10% of industry repairs being scanned through these solutions [93] Company Strategy and Development Direction - The company is focused on growth, innovation, and leveraging its industry-leading AI platform to enhance operational efficiency and customer experience [88] - A significant portion of R&D investment, over $1 billion in the past decade, has been directed towards developing AI capabilities [74][102] - The company aims for long-term targets of 7% to 10% organic revenue growth and adjusted EBITDA margins expanding into the mid-40s [111] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating environment remains challenging due to labor shortages, inflation, and supply chain issues, but the company's solutions are designed to address these challenges [88][147] - The company expressed confidence in its growth trajectory and ability to deliver on strategic and financial objectives, despite external pressures [129][174] Other Important Information - The company's Net Promoter Score (NPS) increased from 80 to 82 in 2022, significantly higher than industry averages, indicating strong customer satisfaction [75] - The company is seeing increased interest in its payment solutions and expects broader applications to generate revenue [140] Q&A Session Summary Question: How is progress with subrogation? - Management reported that early conversations with customers regarding pilots and product expansion are going well, and integration is progressing positively [13] Question: Can you elaborate on the rollout of Estimate-STP? - The rollout involves initial testing for accuracy and capability, with gradual expansion as customers become more comfortable with the solution [114] Question: What is the impact of MSO contract expansions? - The recent MSO contract expansion will contribute to new logo growth in repair facilities in 2023, with a goal of adding 1,000 shops annually [186] Question: What is the company's approach to AI and automation? - The company is focused on a balanced approach to investing in AI while driving operational efficiency, with a strong emphasis on real-time data utilization [180][182]
CCC Intelligent Solutions (CCCS) - 2022 Q4 - Annual Report
2023-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 CCC Intelligent Solutions Holdings Inc. (Exact name of registrant as specified in its charter) As of February 24, 2023, 625,056,959 shares of common stock, $0.0001 par value, of the registrant were outstanding. Page Special Note Regarding Forward Looking Statements and Risk Factors 4 PA RT I Item 1. Business 5 Item 1A. Risk Factors 14 Item 1B. Unresolved Staff Comments 34 Item 2. Properties 34 Item 3. Legal Proceedings 34 Item 4. Mine S ...
CCC Intelligent Solutions (CCCS) - 2022 Q3 - Earnings Call Transcript
2022-11-04 17:07
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q3 2022 Earnings Conference Call November 4, 2022 8:00 AM ET Company Participants William Warmington - VP, IR Githesh Ramamurthy - Chairman and CEO Brian Herb - CFO Conference Call Participants Gabriela Borges - Goldman Sachs Dylan Becker - William Blair David Kelley - Jefferies Saket Kalia - Barclays Kirk Materne - Evercore ISI Tyler Radke - Citi Gary Prestopino - Barrington Research Arvind Ramnani - Piper Sandler Michael Funk - Bank of America Merrill ...
CCC Intelligent Solutions (CCCS) - 2022 Q3 - Quarterly Report
2022-11-03 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ CCC INTELLIGENT SOLUTIONS HOLDINGS INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |------------ ...
CCC Intelligent Solutions (CCCS) - 2022 Q2 - Earnings Call Transcript
2022-08-06 15:08
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants William Warmington – Vice President-Investor Relations Githesh Ramamurthy – Chairman and Chief Executive Officer Brian Herb – Chief Financial Officer Conference Call Participants Dylan Becker – William Blair David Kelley – Jefferies Adi Ahire – Evercore ISI Chris Moore – CJS Securities Tyler Radke – Citi Gary Prestopino – Barrington Research Operator Greetings, ladies and gen ...
CCC Intelligent Solutions (CCCS) - 2022 Q2 - Quarterly Report
2022-08-04 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ CCC INTELLIGENT SOLUTIONS HOLDINGS INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |----------------- ...
CCC Intelligent Solutions (CCCS) - 2022 Q1 - Earnings Call Transcript
2022-05-08 10:18
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q1 2022 Earnings Conference Call May 5, 2022 5:00 PM ET Company Participants Brian Denyeau – Managing Director-ICR, LLC Githesh Ramamurthy – Chairman and Chief Executive Officer Brian Herb – Chief Financial Officer Conference Call Participants Dylan Becker – William Blair Chris Moore – CJS Securities Peter Burkly – Evercore ISI Jake Titleman – Goldman Sachs Gary Prestopino – Barrington Research Operator Greetings and welcome to the CCC Intelligent Soluti ...
CCC Intelligent Solutions (CCCS) - 2022 Q1 - Quarterly Report
2022-05-05 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to________________ CCC INTELLIGENT SOLUTIONS HOLDINGS INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |---------------------------------- ...
CCC Intelligent Solutions (CCCS) - 2021 Q4 - Earnings Call Transcript
2022-03-01 16:08
CC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) Q4 2021 Earnings Conference Call March 1, 2022 8:00 AM ET Company Participants Githesh Ramamurthy – Chairman and Chief Executive Officer Brian Herb – Chief Financial Officer Brian Denyeau – ICR Conference Call Participants Bhavan Suri – William Blair Chris Moore – CJS Securities Maya Prabhu – JPMorgan Kirk Materne – Evercore ISI Gary Prestopino – Barrington Research Yitchuin Wong – Citi Operator Greetings and welcome to the CCC Intelligent Solutions Fourt ...
CCC Intelligent Solutions (CCCS) - 2021 Q4 - Annual Report
2022-02-28 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2021 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) | ...