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Jun 30, 2023
CCC Q2 2023 Earnings Report
CCC Intelligent Solutions Holdings Inc. reported strong second quarter results, with revenue growth and a healthy adjusted EBITDA margin.
Key Takeaways
CCC Intelligent Solutions Holdings Inc. announced its financial results for the three months ended June 30, 2023. The company reported a 10% year-over-year increase in revenue and a 38% adjusted EBITDA margin.
Total revenue was $211.7 million, a 10% increase from the second quarter of 2022.
GAAP gross profit was $152.6 million, with a gross margin of 72%.
GAAP net loss was $97.3 million, compared to a net income of $15.6 million in the second quarter of 2022.
CCC had $403.6 million in cash and cash equivalents as of June 30, 2023.
Forward Guidance
The Company is issuing the following financial guidance: Third Quarter Fiscal 2023 Revenue $215 million to $217 million and Adjusted EBITDA $86 million to $88 million. Full Year Fiscal 2023 Revenue $851 million to $855 million and Adjusted EBITDA $337 million to $341 million.
Positive Outlook
- Revenue guidance for Q3 2023 is between $215 million and $217 million.
- Adjusted EBITDA guidance for Q3 2023 is between $86 million and $88 million.
- Revenue guidance for full year 2023 is between $851 million and $855 million.
- Adjusted EBITDA guidance for full year 2023 is between $337 million and $341 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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