CCC Q4 2022 Earnings Report
Key Takeaways
CCC Intelligent Solutions Holdings Inc. reported a revenue of $204.1 million for Q4 2022, compared to $187.1 million for Q4 2021. GAAP gross profit was $145.5 million, with a gross margin of 71%. GAAP operating income was $9.7 million, and GAAP net income was $1.1 million. Adjusted EBITDA was $80.1 million, a 6% increase compared to the previous year. The company continues to focus on AI and digital solutions to improve customer experience and operational efficiency.
Total revenue for Q4 2022 reached $204.1 million, surpassing the revenue of $187.1 million in Q4 2021.
GAAP gross profit was $145.5 million for Q4 2022, with a gross margin of 71%.
GAAP operating income was $9.7 million for Q4 2022, compared to $15.3 million for Q4 2021.
Adjusted EBITDA increased to $80.1 million in Q4 2022, marking a 6% growth from $75.7 million in Q4 2021.
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CCC
Forward Guidance
CCC Intelligent Solutions provided financial guidance for the first quarter and full year of fiscal 2023, expecting revenue between $202 million and $204 million for Q1 2023 and between $842 million and $850 million for the full year. Adjusted EBITDA is projected to be between $76 million and $78 million for Q1 2023 and between $330 million and $338 million for the full year.
Positive Outlook
- Revenue is expected to be between $202 million and $204 million for Q1 2023.
- Revenue is expected to be between $842 million and $850 million for the full year 2023.
- Adjusted EBITDA is projected to be between $76 million and $78 million for Q1 2023.
- Adjusted EBITDA is projected to be between $330 million and $338 million for the full year 2023.