{"id":753863,"date":"2023-05-02T16:48:12","date_gmt":"2023-05-02T20:48:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results\/"},"modified":"2023-05-02T16:48:12","modified_gmt":"2023-05-02T20:48:12","slug":"ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results\/","title":{"rendered":"CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results"},"content":{"rendered":"

<\/p>\n

CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results<\/b><\/p>\n

CHICAGO–(BUSINESS WIRE<\/a>)–
\nCCC Intelligent Solutions Holdings Inc. (\u201cCCC\u201d or the \u201cCompany\u201d) (NASDAQ: CCCS), a leading SaaS platform for the P&C insurance economy, today announced its financial results for the three months ended March 31, 2023.<\/p>\n

\n\u201cCCC delivered strong first quarter results, highlighted by 10% year-over-year revenue growth and 39% adjusted EBITDA margin. We believe our solid start to 2023 reflects our durable business model, ongoing innovation, and continued adoption of CCC solutions that help our clients address a growing number of the business challenges facing the P&C insurance economy,\u201d said Githesh Ramamurthy, Chairman & CEO of CCC.<\/p>\n

\n\u201cWe believe there is a great opportunity to use our industry-leading platform, focus on innovation, and multi-sided network to develop and implement new digital solutions for our clients,\u201d continued Ramamurthy. \u201cWe remain confident in our ability to deliver on our strategic and financial objectives while helping our customers and investing in future solutions.\u201d<\/p>\n

First Quarter 2023 Financial Highlights<\/b><\/p>\n

Revenue<\/i><\/b><\/p>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nTotal revenue was $204.9 million for the first quarter of 2023, compared to $186.8 million for the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Profitability<\/i><\/b><\/p>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nGAAP gross profit was $147.8 million, representing a gross margin of 72%, for the first quarter of 2023, compared with $137.4 million, representing a gross margin of 74%, for the first quarter of 2022. Adjusted gross profit was $156.6 million, representing an adjusted gross margin of 76%, for the first quarter of 2023, compared with $145.1 million, representing an adjusted gross margin of 78%, for the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nGAAP operating income was $13.3 million for the first quarter of 2023, compared with GAAP operating income of $12.7 million for the first quarter of 2022. Adjusted operating income was $70.3 million for the first quarter of 2023, compared with adjusted operating income of $66.8 million for the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nGAAP net income was $2.2 million for the first quarter of 2023, compared with GAAP net income of $12.0 million for the first quarter of 2022. Adjusted net income was $46.5 million for the first quarter of 2023, compared with $48.9 million for the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nAdjusted EBITDA was $79.5 million for the first quarter of 2023, compared with adjusted EBITDA of $73.7 million for the first quarter of 2022. Adjusted EBITDA grew 8% in the first quarter of 2023 compared with the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Liquidity<\/i><\/b><\/p>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nCCC had $338.4 million in cash and cash equivalents and $790.0 million of total debt on March 31, 2023. The Company generated $33.1 million in cash from operating activities and had free cash flow of $18.5 million during the first quarter of 2023, compared with $46.9 million generated in cash from operating activities and $32.6 million in free cash flow in the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nThe information presented above includes non-GAAP financial measures such as \u201cadjusted EBITDA,\u201d \u201cadjusted net income,\u201d \u201cadjusted operating income,\u201d \u201cadjusted gross profit,\u201d \u201cadjusted gross profit margin,\u201d and \u201cfree cash flow.\u201d Refer to \u201cNon-GAAP Financial Measures\u201d for a discussion of these measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure.<\/p>\n

1st<\/sup> Quarter and Recent Business Highlights<\/i><\/b><\/p>\n\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nThe total number of claims processed through CCC\u00ae Estimate-STP continues to increase. Estimate-STP is CCC\u2019s AI-based system that can pre-populate a complete repair estimate on a qualified claim in seconds. In March of 2023, the annualized run rate value of auto claims processed through Estimate-STP was over $1 billion, which is more than 10 times CCC\u2019s run rate value in March of 2022. With the current run rate value still representing less than 1% of CCC\u2019s current annual Automobile Physical Damage claim volume, the growth potential of this product remains very strong.<\/p>\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nThe growing adoption of CCC\u00ae Diagnostics is helping to improve consistency and transparency around the administration, reporting, and verification of diagnostic services between repairers and insurers. As a result, CCC is experiencing growth in both its network of repair facilities using the solution and the volume of scanned vehicles being verified. In the first quarter of 2023, about 3,800 repair facilities ran a scan through one of CCC\u2019s diagnostic services partners. This was more than twice the number of repair facilities running scans in the first quarter of 2022. Additionally in the first quarter of 2023, over 500,000 scanned vehicles were verified via the CCC network \u2013 more than double the volume being scanned in the first quarter of 2022.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2022<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\nIn March, the Business Intelligence Group awarded CCC two 2023 Artificial Intelligence Excellence Awards<\/i>. The 2023 Artificial Intelligence Excellence Awards<\/i> recognize organizations, products, and people applying AI to solve real business challenges. The first award recognized Estimate-STP as a top innovation in the \u201cproduct\u201d category. The second award recognized CCC’s NXT Lab innovation hub as a center of excellence in the \u201corganization\u201d category for its work across internal teams (including data science, R&D, engineering, support, and design) to develop and test next-generation AI solutions for the industry.<\/p>\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Business Outlook<\/b><\/p>\n

\nBased on information as of today, May 2, 2023, the Company is issuing the following financial guidance:<\/p>\n\n\n\n\n\n
\n\n\n\n\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Second Quarter Fiscal 2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

Full Year Fiscal 2023<\/b><\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenue<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n207.5 million to $209.5 million<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n844 million to $850 million<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n76.5 million to $78.5 million<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n$<\/p>\n<\/td>\n

\n

\n332 million to $338 million<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Conference Call Information<\/b><\/p>\n

\nCCC will host a conference call today, May 2, 2023, at 5:00 p.m. (Eastern Time) to discuss the Company\u2019s financial results and financial guidance. A live webcast of this conference call will be available on the \u201cInvestor Relations\u201d page of the Company\u2019s website at https:\/\/ir.cccis.com<\/a>, and a replay will be archived on the website as well.<\/p>\n

About CCC Intelligent Solutions<\/b><\/p>\n

\nCCC Intelligent Solutions Inc., a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: 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\u2019s lives moving forward when it matters most. Learn more about CCC at www.cccis.com<\/a>.<\/p>\n

Forward Looking Statements<\/b><\/p>\n

\nThis 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: \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cplan,\u201d \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cpredict,\u201d \u201cproject,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201congoing\u201d 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, future events, goals, plans and projections regarding the Company\u2019s 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; 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; 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 estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to expand or maintain our existing customer base; our ability to service our indebtedness; and other risks and uncertainties, including those included under the header \u201cRisk Factors\u201d in the Company\u2019s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the Securities and Exchange Commission (\u201cSEC\u201d), which can be obtained, without charge, at the SEC\u2019s website (www.sec.gov<\/a>), 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.<\/p>\n

Non-GAAP Financial Measures<\/b><\/p>\n

\nThis press release includes certain financial measures not presented in accordance with generally accepted accounting principles in the U.S. (\u201cGAAP\u201d), including, but not limited to, \u201cadjusted EBITDA,\u201d \u201cadjusted net income,\u201d \u201cadjusted operating income,\u201d \u201cadjusted gross profit,\u201d \u201cadjusted gross profit margin,\u201d \u201cadjusted operating expenses,\u201d and \u201cfree cash flow\u201d 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\u2019s 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\u2019s calculation of these non-GAAP measures may not be comparable to similarly-titled measures used by other companies.<\/p>\n

\nThe 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\u2019s 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\u2019s 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.<\/p>\n

\nThis 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.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands, except share data)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/tr>\n
\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

March 31,<\/b><\/p>\n<\/td>\n

\n\n

December 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

(Unaudited)<\/b><\/p>\n<\/td>\n

\n<\/tr>\n
\n

ASSETS<\/b><\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nCURRENT ASSETS:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nCash and cash equivalents<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n338,354<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n323,788<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccounts receivable\u2014Net of allowances of $6,866 and $5,339 as of March 31, 2023 and
\n
December 31, 2022, respectively<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n92,268<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n98,353<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome taxes receivable<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,316<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,015<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred contract costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n17,339<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n16,556<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther current assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n34,766<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n36,358<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal current assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n485,043<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n479,070<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nSOFTWARE, EQUIPMENT, AND PROPERTY\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n150,496<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n146,443<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOPERATING LEASE ASSETS<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n32,349<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n32,874<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nINTANGIBLE ASSETS\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,094,068<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,118,819<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGOODWILL<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,495,129<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,495,129<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDEFERRED FINANCING FEES, REVOLVER\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,132<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,286<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDEFERRED CONTRACT COSTS<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n20,212<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n20,161<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nEQUITY METHOD INVESTMENT<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n10,228<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n10,228<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOTHER ASSETS<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n51,768<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n45,911<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTOTAL<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n3,341,425<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n3,350,921<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nCURRENT LIABILITIES:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nAccounts payable<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n15,795<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n27,599<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccrued expenses<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n45,972<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n71,445<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome taxes payable<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,001<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n922<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCurrent portion of long-term debt<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,000<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,000<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCurrent portion of long-term licensing agreement\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,921<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,876<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating lease liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,815<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,484<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred revenues<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n40,272<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35,239<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal current liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n124,776<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n151,565<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLONG-TERM DEBT\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n772,461<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n774,132<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDEFERRED INCOME TAXES\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n234,935<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n241,698<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLONG-TERM LICENSING AGREEMENT\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n30,005<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n30,752<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOPERATING LEASE LIABILITIES<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n53,329<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54,245<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nWARRANT LIABILITIES<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35,210<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n36,405<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOTHER LIABILITIES<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,658<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,252,691<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,291,455<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCOMMITMENTS AND CONTINGENCIES (Notes 18 and 19)<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nMEZZANINE EQUITY:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nRedeemable non-controlling interest<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14,179<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14,179<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nSTOCKHOLDERS\u2019 EQUITY:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nPreferred stock\u2014$0.0001 par; 100,000,000 shares authorized; no shares issued or outstanding<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCommon stock\u2014$0.0001 par; 5,000,000,000 shares authorized; 627,683,715 and
\n
622,072,905 shares issued and outstanding at March 31, 2023 and December 31,
\n
2022, respectively<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n63<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n62<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdditional paid-in capital<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,781,104<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,754,055<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccumulated deficit<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(705,762<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(707,946<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccumulated other comprehensive loss<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(850<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(884<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal stockholders\u2019 equity<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,074,555<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,045,287<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTOTAL<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n3,341,425<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n3,350,921<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands, except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

For the Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nREVENUES<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n204,919<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n186,823<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCOST OF REVENUES<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nCost of revenues, exclusive of amortization of acquired technologies<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n50,447<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n42,701<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired technologies<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,685<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,695<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal cost of revenues<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n57,132<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n49,396<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGROSS PROFIT<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n147,787<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n137,427<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOPERATING EXPENSES:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nResearch and development<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n40,996<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n35,681<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nSelling and marketing<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n33,531<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n26,802<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGeneral and administrative<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n41,865<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n44,207<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of intangible assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,066<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,080<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal operating expenses<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n134,458<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n124,770<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOPERATING INCOME<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,329<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,657<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nINTEREST EXPENSE<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(13,832<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(7,341<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nINTEREST INCOME<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,259<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,604<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCHANGE IN FAIR VALUE OF WARRANT LIABILITIES<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,195<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,136<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAIN ON SALE OF COST METHOD INVESTMENT<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,578<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOTHER INCOME\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n54<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n82<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPRETAX INCOME<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,401<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n11,112<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nINCOME TAX BENEFIT<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n783<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n863<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNET INCOME INCLUDING NON-CONTROLLING
\n
INTEREST<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,184<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n11,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLess: net income attributable to non-controlling interest<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNET INCOME ATTRIBUTABLE TO CCC INTELLIGENT
\n
SOLUTIONS HOLDINGS INC.<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,184<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income per share attributable to common stockholders:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nBasic<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.00<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.02<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.00<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.02<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nWeighted-average shares used in computing net income per share
\n
attributable to common stockholders:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nBasic<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n616,217,176<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n603,104,839<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n646,380,961<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n641,028,410<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCOMPREHENSIVE INCOME:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nNet income including non-controlling interest<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,184<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n11,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther comprehensive income\u2014Foreign currency translation
\n
adjustment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n34<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCOMPREHENSIVE INCOME INCLUDING
\n
NON-CONTROLLING INTEREST<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,218<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n11,984<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLess: comprehensive income attributable to non-controlling
\n
interest<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCOMPREHENSIVE INCOME ATTRIBUTABLE TO CCC
\n
INTELLIGENT SOLUTIONS HOLDINGS INC.<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,218<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,984<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

For the Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nCASH FLOWS FROM OPERATING ACTIVITIES:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nNet income<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,184<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjustments to reconcile net income to net cash provided by operating activities:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nDepreciation and amortization of software, equipment, and property<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n9,206<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,807<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of intangible assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n24,751<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n24,775<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred income taxes<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(6,763<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(21,223<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n29,234<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n23,644<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of deferred financing fees<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n427<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n474<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of discount on debt<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n56<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n65<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in fair value of derivative instruments<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,604<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in fair value of warrant liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,195<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,136<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-cash lease expense<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n942<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,228<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLoss on disposal of software, equipment and property<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n795<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGain on sale of cost method investment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,578<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n58<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n26<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChanges in:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nAccounts receivable\u2014Net<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,084<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,043<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred contract costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(783<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(576<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther current assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,726<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,187<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred contract costs\u2014Non-current<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(51<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n814<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(8,519<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(10,805<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating lease assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(417<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,316<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome taxes<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,778<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n20,370<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccounts payable<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(11,897<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n4,825<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAccrued expenses<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(25,690<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(16,460<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating lease liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n415<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,986<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nDeferred revenues<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n5,033<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,353<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nOther liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(105<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(68<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet cash provided by operating activities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n33,078<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n46,865<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCASH FLOWS FROM INVESTING ACTIVITIES:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nPurchases of software, equipment, and property<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,534<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,280<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAcquisition of Safekeep, Inc., net of cash acquired<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(32,227<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nProceeds from sale of cost method investment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,892<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet cash used in investing activities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,534<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(42,615<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nCASH FLOWS FROM FINANCING ACTIVITIES:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nProceeds from exercise of stock options<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,109<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n10,691<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nProceeds from employee stock purchase plan<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,326<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPayments for employee taxes withheld upon vesting of equity awards<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(11,449<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPrincipal payments on long-term debt<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,000<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,000<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet cash (used in) provided by financing activities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(4,014<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n8,691<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n36<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNET CHANGE IN CASH AND CASH EQUIVALENTS<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n14,566<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n12,953<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCASH AND CASH EQUIVALENTS:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nBeginning of period<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n323,788<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n182,544<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nEnd of period<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n338,354<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n195,497<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNONCASH INVESTING AND FINANCING ACTIVITIES:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nNoncash purchases of software, equipment, and property<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n626<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nContingent consideration related to business acquisition<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n200<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nSUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nCash paid for interest<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n13,446<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n6,783<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nCash paid for income taxes\u2014Net<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n202<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n45<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RECONCILIATION OF GROSS PROFIT TO ADJUSTED GROSS PROFIT<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands, except profit margin percentage data)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(amounts in thousands, except percentages)<\/b><\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nGross Profit<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n147,787<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n137,427<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired technologies<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,685<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,695<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation and related employer payroll tax<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,116<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n933<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Gross Profit<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n156,588<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n145,055<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGross Profit Margin<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n72<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n74<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted Gross Profit Margin<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n76<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n78<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RECONCILIATION OF GAAP OPERATING EXPENSES TO ADJUSTED OPERATING EXPENSES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/tr>\n
\n\n\n

Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(dollar amounts in thousands)<\/b><\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating expenses<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n134,458<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n124,770<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of intangible assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(18,066<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(18,080<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense and related employer payroll tax<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(29,094<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(23,723<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nPlaintiff litigation costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(986<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nM&A and integration costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,407<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease overlap costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,338<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease abandonment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,222<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nBusiness Combination transaction and related costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(732<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet costs related to divestiture<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(60<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating expenses<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n86,312<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n78,208<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RECONCILIATION OF GAAP OPERATING INCOME TO ADJUSTED OPERATING INCOME<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/tr>\n
\n\n\n

Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(dollar amounts in thousands)<\/b><\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating income<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n13,329<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n12,657<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of intangible assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,066<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,080<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired technologies\u2014Cost of revenue<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,685<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,695<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense and related employer payroll tax<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n31,210<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n24,656<\/p>\n<\/td>\n<\/tr>\n

\n

\nPlaintiff litigation costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n986<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n<\/tr>\n

\n

\nM&A and integration costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,407<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease overlap costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,338<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease abandonment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,222<\/p>\n<\/td>\n<\/tr>\n

\n

\nBusiness Combination transaction and related costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n732<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet costs related to divestiture<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n60<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted operating income<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n70,276<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n66,847<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RECONCILIATION OF GAAP NET INCOME TO ADJUSTED EBITDA<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands, except for EBITDA margin percentage data)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

Three Months Ended
\n
March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(dollar amounts in thousands)<\/b><\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,184<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nInterest expense<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n13,832<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n7,341<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nInterest income<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,259<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nIncome tax benefit<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(783<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(863<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of intangible assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,066<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,080<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired technologies\u2014Cost of revenue<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,685<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,695<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDepreciation and amortization of software, equipment and property<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,227<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,962<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDepreciation and amortization of software, equipment and property\u2014Cost of revenue<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,979<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n3,845<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nEBITDA<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n45,931<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n50,035<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense and related employer payroll tax<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n31,210<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n24,656<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in fair value of derivative instruments<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,604<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPlaintiff litigation costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n986<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in fair value of warrant liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,195<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,136<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nM&A and integration costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,407<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease overlap costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,338<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease abandonment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,222<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nBusiness Combination transaction and related costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n732<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet costs related to divestiture<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n60<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGain on sale of cost method investment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,578<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n79,536<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n73,736<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA Margin<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n39<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n39<\/p>\n<\/td>\n

\n

\n%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RECONCILIATION OF GAAP NET INCOME TO ADJUSTED NET INCOME<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands, except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/tr>\n
\n\n\n

Three Months Ended
\n
March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(dollar amounts in thousands)<\/b><\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet income<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n2,184<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n11,975<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of intangible assets<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,066<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n18,080<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAmortization of acquired technologies\u2014Cost of revenue<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,685<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n6,695<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nStock-based compensation expense and related employer payroll tax<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n31,210<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n24,656<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in fair value of derivative instruments<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n2,604<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nPlaintiff litigation costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n986<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nChange in fair value of warrant liabilities<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(1,195<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(2,136<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nM&A and integration costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,407<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease overlap costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,338<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLease abandonment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n1,222<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nBusiness Combination transaction and related costs<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n732<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nNet costs related to divestiture<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n60<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nGain on sale of cost method investment<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n\u2014<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(3,578<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nTax effect of adjustments<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,046<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(11,577<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted net income<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n46,494<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n48,874<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted net income per share attributable to common stockholders:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nBasic<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.08<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.08<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.07<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n0.08<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nWeighted average shares outstanding:<\/p>\n<\/td>\n

\n\n\n<\/tr>\n
\n

\nBasic<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n616,217,176<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n603,104,839<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nDiluted<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n646,380,961<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n641,028,410<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

CCC INTELLIGENT SOLUTIONS HOLDINGS INC. AND SUBSIDIARIES<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

RECONCILIATION OF NET CASH FLOW FROM OPERATING ACTIVITIES TO FREE CASH FLOW<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(In thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n

<\/tr>\n
\n\n\u00a0<\/td>\n<\/tr>\n
\n\n\n

Three Months Ended March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

(dollar amounts in thousands)<\/b><\/p>\n<\/td>\n

\n\n

2023<\/b><\/p>\n<\/td>\n

\n\n

2022<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nNet cash provided by operating activities<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n33,078<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n46,865<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n

\n

\nLess: Purchases of software, equipment, and property<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,534<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n

\n\n

\n\u00a0<\/p>\n<\/td>\n

\n

\n(14,280<\/p>\n<\/td>\n

\n

\n)<\/p>\n<\/td>\n<\/tr>\n

\n

\nFree Cash Flow<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n18,544<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n

\n\n

\n$<\/p>\n<\/td>\n

\n

\n32,585<\/p>\n<\/td>\n

\n

\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\n\u00a0<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230501005554\/en\/<\/a><\/span><\/p>\n

Investor:
\n<\/b>
Bill Warmington
\n
VP, Investor Relations, CCC Intelligent Solutions Inc.
\n
312-229-2355
\n
IR@cccis.com
\n<\/a><\/p>\n

Media:
\n<\/b>
Michelle Hellyar
\n
Senior Director, Public Relations, CCC Intelligent Solutions Inc.
\n
mhellyar@cccis.com<\/a><\/p>\n

KEYWORDS:<\/b> Illinois United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Professional Services Apps\/Applications Technology Insurance Mobile\/Wireless Software Internet<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results CHICAGO–(BUSINESS WIRE)– CCC Intelligent Solutions Holdings Inc. (\u201cCCC\u201d or the \u201cCompany\u201d) (NASDAQ: CCCS), a leading SaaS platform for the P&C insurance economy, today announced its financial results for the three months ended March 31, 2023. \u201cCCC delivered strong first quarter results, highlighted by 10% year-over-year revenue growth and 39% adjusted EBITDA margin. We believe our solid start to 2023 reflects our durable business model, ongoing innovation, and continued adoption of CCC solutions that help our clients address a growing number of the business challenges facing the P&C insurance economy,\u201d said Githesh Ramamurthy, Chairman & CEO of CCC. \u201cWe believe there is a great opportunity to use our industry-leading platform, … <\/p>\n

Continue reading “CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-753863","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results CHICAGO–(BUSINESS WIRE)– CCC Intelligent Solutions Holdings Inc. (\u201cCCC\u201d or the \u201cCompany\u201d) (NASDAQ: CCCS), a leading SaaS platform for the P&C insurance economy, today announced its financial results for the three months ended March 31, 2023. \u201cCCC delivered strong first quarter results, highlighted by 10% year-over-year revenue growth and 39% adjusted EBITDA margin. We believe our solid start to 2023 reflects our durable business model, ongoing innovation, and continued adoption of CCC solutions that help our clients address a growing number of the business challenges facing the P&C insurance economy,\u201d said Githesh Ramamurthy, Chairman & CEO of CCC. \u201cWe believe there is a great opportunity to use our industry-leading platform, … Continue reading "CCC Intelligent Solutions Holdings Inc. Announces First Quarter 2023 Financial Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-02T20:48:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230501005554r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"16 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/ccc-intelligent-solutions-holdings-inc-announces-first-quarter-2023-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"CCC Intelligent Solutions Holdings Inc. 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