The following is a summary of the CCC Intelligent Solutions Holdings Inc. (CCCS) Q3 2024 Earnings Call Transcript:

Financial Performance:

• CCC Intelligent Solutions Holdings Inc. reported Q3 2024 revenue of $238 million, an 8% year-over-year increase, with adjusted EBITDA of $102 million, up 9% from the previous year.

• The adjusted EBITDA margin increased to 43%, up approximately 60 basis points year-over-year.

• Free cash flow for Q3 was $49 million, up from $46 million in the prior year, with a trailing 12-month free cash flow of $200 million, a 4% increase year-over-year.

Business Progress:

• CCC continues to develop and introduce high-impact solutions such as First Look AI tool and Intelligent Reinspection, focusing on enhancing efficiency and automation in claims processing.

• The company has successfully rolled out new event-driven architecture, IX Cloud, which facilitates real-time data handling and AI-driven workflow improvements.

• Significant strides in product adoption include CCC Build Sheets and CCC Payroll, enhancing back-office operations for collision repair facilities.

Opportunities:

• The adoption of CCC's new generation of AI-powered solutions across the P&C insurance industry represents a significant growth opportunity, particularly as these solutions drive operational efficiencies and meet rapidly evolving customer service expectations.

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