CCC Intelligent Solutions reports Q4 EPS 9c, consensus 8c

Reports Q4 revenue $228.6M, consensus $222.5M. “CCC delivered another year of strong financial performance, with year-over-year revenue growth in 2023 of 11% and adjusted EBITDA margin of 41% – both above our guidance ranges. We believe our strong performance is the result of a growing interest in advanced digital solutions across the P&C insurance economy and the trust our customers place in us from years of delivering innovation and operational performance,” said Githesh Ramamurthy, CEO. “In 2023, we made significant investments in the business to position CCC for continued growth, including expanding our multi-sided network as well as increasing our growth capacity and capabilities. While making these critical investments to support our customers, we also delivered significant year-over-year margin expansion.”