CCC Q3 2023 Earnings Report
Key Takeaways
CCC Intelligent Solutions Holdings Inc. reported an 11% increase in revenue to $221.1 million for Q3 2023, compared to $198.7 million in Q3 2022. The company's adjusted EBITDA grew by 19% year-over-year, reaching $92.9 million, with an adjusted EBITDA margin of 42%. GAAP net loss was $21.2 million, compared to GAAP net income of $9.8 million for the same period last year.
Total revenue increased by 11% year-over-year, reaching $221.1 million.
Adjusted EBITDA grew by 19% year-over-year, amounting to $92.9 million.
GAAP gross profit was $163.1 million, with a gross margin of 74%.
Introduced Repair Cost Predictor and Mobile Jumpstart to address labor challenges.
CCC
CCC
Forward Guidance
The Company is issuing the following financial guidance: Fourth Quarter Fiscal 2023 Revenue $221.5 million to $223.5 million and Adjusted EBITDA $92 million to $94 million. Full Year Fiscal 2023 Revenue $859 million to $861 million and Adjusted EBITDA $345 million to $347 million.