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CHICAGO - CCC (WA:CCCP) Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) saw its stock jump 6.8% after the cloud platform provider for the P&C insurance economy reported fourth-quarter earnings in line with expectations and issued upbeat guidance for 2025.
The company reported fourth-quarter adjusted earnings per share of $0.10, matching analyst estimates. Revenue for the quarter came in at $246.5 million, slightly above the consensus of $245.35 million and up 8% YoY.
For the first quarter of 2025, CCC Intelligent Solutions expects revenue between $249 million and $250.5 million, surpassing analyst expectations of $246.3 million. The company’s full-year 2025 revenue guidance of $1.055 billion to $1.065 billion also exceeded the consensus estimate of $1.029 billion.
"CCC delivered another year of solid financial performance, with year-over-year revenue growth in 2024 of 9% and adjusted EBITDA margin of 42%," said Githesh Ramamurthy, Chairman & CEO of CCC. "We made significant investments in 2024 to deliver AI-based innovation and operational performance to our customers, introducing the largest number of new solutions in CCC’s history while continuing to expand our multi-sided network."
The company reported full-year 2024 revenue of $944.8 million, up 9% from $866.4 million in 2023. Adjusted EBITDA for 2024 grew 12% to $397.4 million compared to the previous year.
CCC Intelligent Solutions also announced that its board of directors has authorized a share repurchase program of up to $300 million, signaling confidence in the company’s financial position and future prospects.
The strong guidance and share repurchase announcement likely contributed to the positive market reaction, with investors showing optimism about the company’s growth trajectory in the coming year.
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