Ccc Intelligent Solutions Hld - CCCS STOCK NEWS

CCC Intelligent Solutions Holdings (NASDAQ: CCCS) has announced a proposed secondary offering of 42 million shares of common stock by affiliates of Advent International. The shares will be sold at prevailing market prices through negotiated transactions.

In conjunction with this offering, the company plans to repurchase 7 million shares from the underwriters at the same price, funded through cash on hand. The offering will be conducted by joint book running managers including BofA Securities, Goldman Sachs, Jefferies, and J.P. Morgan Securities.

Notably, CCCS will not receive any proceeds from the secondary offering as all shares are being sold by the Selling Stockholders. The offering is being made through an effective shelf registration statement on Form S-3 that was filed with the SEC.

CCC Intelligent Solutions (CCCS) has appointed Tim Welsh as President to lead market-facing functions and accelerate digital transformation initiatives. Welsh joins from U.S. Bank, where he led the digital transformation of their $10 billion consumer and small-business banking division.

Welsh brings extensive experience from his 26-year tenure at McKinsey & Company, where he served as Senior Partner and was elected to the firm's Shareholders Council. His background includes significant work with P&C and Life insurers, focusing on strategic and operational performance improvements.

The appointment aligns with CCC's strategy to help customers navigate industry complexity through AI and digital technologies. Welsh will leverage CCC's AI capabilities, network, and CCC IX Cloud™ platform to support customers ranging from independent repair facilities to large carriers. He will assume his role on March 24.

CCC Intelligent Solutions (NASDAQ: CCCS) reported strong financial results for Q4 and full year 2024. The company achieved 9% year-over-year revenue growth in 2024, reaching $944.8 million, with an adjusted EBITDA margin of 42%.

Q4 2024 highlights include revenue of $246.5 million (up 8% YoY), GAAP net income of $6.3 million, and adjusted EBITDA of $106.3 million. The company maintained strong profitability with a 75% gross margin.

Key developments include:

• Acquisition of EvolutionIQ to expand into disability and workers' compensation markets
• Addition of over 1,000 new repair facilities, reaching 30,500+ on CCC ONE® network
• Over 10,000 collision repairers actively using AI solutions
• Authorization of $300 million share repurchase program

CCC Intelligent Solutions Holdings (NASDAQ: CCCS), a cloud platform provider for the P&C insurance economy, has scheduled its fourth quarter and full fiscal year 2024 earnings release. The financial results will be announced after U.S. market close on Tuesday, February 25, 2025.

The company will host a conference call on the same day at 5:00 p.m. Eastern Time to discuss financial results and business outlook. Investors can access the live webcast through the company's investor relations website at ir.cccis.com, where a replay will also be available afterward.

CCC Intelligent Solutions (CCCS) announced the integration of its CCC® Repair Workflow shop management solution with Tekion's dealer management system (DMS). The integration connects dealer body shop systems with dealer management software, eliminating manual data entry and reducing inefficiencies.

The integration synchronizes essential data including repair order numbers, vehicle information, repair history, and accounting details. This streamlined process helps dealer body shops reduce time spent on manual data entry and general ledger reconciliation, enabling them to focus on delivering repairs more efficiently, improving cycle times, and increasing shop productivity.

CCC Intelligent Solutions (CCCS) has been awarded the Electronic Commerce Company of the Year by the Collision Industry Electronic Commerce Association (CIECA). The recognition highlights CCC's leadership in promoting CIECA data standards and advancing secure information exchange in the collision repair industry.

As a founding CIECA member, CCC's Secure Share™ network demonstrates the effective implementation of CIECA's Business Message Suite (BMS) standard, enabling secure data sharing between repairers and third-party applications. The network, currently utilized by over 60 companies, allows collision repairers using CCC ONE® Estimating to control information sharing while protecting sensitive data.

The cloud-based API promotes efficient communication between insurers, repairers, and industry stakeholders, reducing manual data entry and enhancing transparency. As a technology partner to 35,000 companies, CCC continues to focus on fostering ecosystem collaboration and driving innovation in secure data exchange.

CCC Intelligent Solutions (NASDAQ: CCCS) has completed its acquisition of EvolutionIQ, a leading platform for AI-powered disability and injury claims management. The acquisition expands CCC's market presence into disability and workers' compensation sectors while enhancing its AI-powered SaaS platform with new capabilities including Medical Summarization and Next Best Action features.

The transaction was executed using a combination of cash and CCCS common stock. Alongside the acquisition announcement on December 20, 2024, CCC's board approved a $300 million share repurchase program. The merger aims to revolutionize insurance claims resolution by combining both companies' AI-based platforms.

CCC Intelligent Solutions (NASDAQ: CCCS) has announced the acquisition of EvolutionIQ for $730 million, to be paid through a combination of 40% CCCS common stock and 60% cash. The transaction is expected to close in Q1 2025.

The acquisition combines two AI-powered platforms, expanding CCC's market reach into disability and injury claims management. EvolutionIQ's AI-powered claims guidance platform will complement CCC's existing auto casualty product suite. The deal will be funded through cash on balance sheet and a $225 million term loan.

Additionally, CCC's Board has authorized a $300 million share repurchase program, demonstrating confidence in the acquisition's future benefits.

CCC Intelligent Solutions Holdings (NASDAQ: CCCS) has announced that its board of directors has approved a new $300 million share repurchase authorization. The company can execute the buyback through open market purchases, privately negotiated transactions, or accelerated share repurchases. The authorization provides flexibility in timing and amount based on market conditions, capital resources, and other factors. Repurchases will be funded through available liquidity and free cash flow.

CCC is a leading cloud platform provider for the P&C insurance economy, connecting over 35,000 businesses through its CCC Intelligent Experience (IX) Cloud™ platform, which serves insurers, repairers, automakers, and part suppliers.