secwatch.observer — SEC 8-K summary
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Issuer:     CCC Intelligent Solutions Holdings Inc. (CCC)
CIK:        0001818201
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000950170-24-050533
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CCC Intelligent Solutions Q1 2024 revenue up 11% to $227.2M, adjusted EBITDA $93.7M
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- Revenue $227.2M (+11% YoY); GAAP gross margin 74% vs 72% prior year; adjusted gross margin 78%.
- GAAP net loss $0.6M vs GAAP net income $2.2M in Q1 2023; adjusted net income $54.8M.
- Adjusted EBITDA $93.7M (41% margin), above guidance; grew 18% YoY.
- Free cash flow $39.6M, up from $18.5M in Q1 2023; cash and equivalents $191.2M.
- Management says results reflect durable business model and AI-enabled innovation on IX Cloud.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818201/000095017024050533/0000950170-24-050533-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818201/000095017024050533/cccs-20230430.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-050533

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer