CCC

It has been about a month since the last earnings report for Fastly (FSLY). Shares have lost about 6.9% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Fastly due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important catalysts. Fastly reported second-quarter 2026 adjusted earnings of 15 cents per share versus a loss of 3 cents a year ago. The figure topped the Zacks Consensus Estimate by 114.29%.Revenues rose 23.3% year over year to $183.32 million and surpassed the consensus mark by 5.34%. Strength across Network Services, Security and Compute supported the upside, while the last-12-month net retention rate climbed to 117%. Network Services revenues increased 17% year over year to $133.9 million, accounting for 73% of total revenues. Management attributed the performance to higher traffic among its largest customers, along with a smaller contribution from live sporting events.Fastly also said it is gaining share where performance is critical. The company highlighted major global sporting events that generated record traffic and cited customer wins tied to resilience, flexibility and consolidated edge services. Security revenues advanced 43% year over year to $41.7 million and represented 23% of revenues, up from 20% a year earlier. Management said DDoS protection and bot management grew at triple-digit rates, while its next-generation web application firewall continued to gain traction.Other revenues, which include Compute and Observability, climbed 69% to $7.7 million. Compute demand benefited from customers building low-latency applications and managing artificial intelligence (AI)-related traffic, supporting a combined Security and Other annual revenue run rate of nearly $200 million. Management said customers are adopting more products on Fastly’s unified platform, strengthening cross-sell and upsell activity. The company highlighted triple-digit growth in DDoS protection and bot management, while its web application firewall continued to gain traction.AI-generated and agentic traffic also remained a demand catalyst. Fastly noted that machine traffic requires real-time decisions around authorization, caching, throttling and blocking, supporting adoption across Security, Compute and Network Services.The company expanded its product reach through a partnership with Skyfire, designed to verify AI-agent identities and enable transactions at the edge. It also released a C++ software development kit for Fastly Compute to support low-latency AI, gaming and other workloads.Fastly also highlighted its collaboration with LALIGA on an AI-driven system that detects and stops pirated streams in real time. The project illustrates how the company is pairing content delivery with security and edge-compute capabilities. The last-12-month net retention rate improved from 113% in the first quarter and 104% in the year-ago quarter. The increase reflected broader product adoption and higher usage across a range of customers as Fastly expanded cross-selling and upselling efforts.Large customer count was 624 at the end of the quarter. Average annualized spend per large customer was $1.11 million, reflecting broader use of the platform across delivery, security and emerging edge-compute workloads. The top 10 customers represented 37% of revenues. Revenues from this group grew 48% year over year, while revenues from customers outside the top 10 increased 12%. Remaining performance obligations climbed 38% to $341 million, with the current portion rising 44%. Non-GAAP gross margin expanded 680 basis points year over year to a record 65.8%. Management attributed the improvement to higher revenues relative to infrastructure costs and continued cost discipline.Non-GAAP operating expenses were $93.7 million. Non-GAAP operating income totaled $27 million compared with an operating loss of $4.6 million a year ago. Adjusted EBITDA increased to $38.1 million from $8.9 million, while adjusted EBITDA margin reached 21%. As of June 30, 2026, cash, cash equivalents, marketable securities and investments totaled approximately $337 million, up $7 million from March 31, 2026. Fastly ended the quarter with a positive net cash balance of $14 million.Net cash provided by operating activities was $39.3 million, compared with $25.8 million a year earlier. Free cash flow totaled $3.6 million versus $10.9 million in the prior-year quarter, as infrastructure capital expenditures represented approximately 17% of revenues. For the third quarter of fiscal 2026, FSLY expects revenues to be in the range of $184-$190 million and non-GAAP earnings of 11-13 cents per share. The company projects non-GAAP operating income of $20-$24 million.Fastly raised its 2026 revenue guidance to $732-$746 million and non-GAAP earnings outlook to 50-54 cents per share. Non-GAAP operating income is expected between $88 million and $96 million, reflecting an operating margin of approximately 12% at the midpoint.Management views AI-driven demand as a tailwind across the business. AI tool usage is contributing to traffic growth among some of Fastly’s fastest-growing customers, with the impact most pronounced in Security and Compute and also evident in Network Services. It turns out, fresh estimates have trended upward during the past month. The consensus estimate has shifted 45.33% due to these changes. At this time, Fastly has a strong Growth Score of A, though it is lagging a bit on the Momentum Score front with a B. However, the stock was allocated a grade of F on the value side, putting it in the lowest quintile for value investors. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Fastly has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months. Fastly belongs to the Zacks Internet - Software industry. Another stock from the same industry, CCC Intelligent Solutions Holdings Inc. (CCC), has gained 11.1% over the past month. More than a month has passed since the company reported results for the quarter ended June 2026. CCC Intelligent Solutions reported revenues of $285.93 million in the last reported quarter, representing a year-over-year change of +9.8%. EPS of $0.10 for the same period compares with $0.09 a year ago. CCC Intelligent Solutions is expected to post earnings of $0.11 per share for the current quarter, representing a year-over-year change of +22.2%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged. CCC Intelligent Solutions has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Fastly, Inc. (FSLY) : Free Stock Analysis Report CCC Intelligent Solutions Holdings Inc. (CCC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributes growth to CCC becoming the 'connective layer' for the insurance economy, where AI is now operationalized within trusted workflows rather than just generating insights. AI-based solutions are a primary growth engine, generating over $120 million in annualized revenue and growing at nearly 50% year-over-year. Strategic positioning is shifting from selling models to delivering measurable business outcomes, such as cycle time reduction and efficiency gains, which are increasingly backed by multiyear commitments. The company is successfully embedding AI into high-value, complex workflows like parts procurement and estimate reviews, reducing manual intervention and accelerating decision-making. Rising vehicle and regulatory complexity is driving demand for CCC's platform as a coordinator for a fragmented supply chain involving insurers, repairers, and OEMs. Customer momentum is evidenced by top-tier insurers moving AI from pilot programs to enterprise-wide production scale deployments during both renewal and mid-cycle periods. Full-year 2026 revenue guidance was narrowed and raised to 9.5% to 10% growth, reflecting solid momentum in AI adoption and core platform expansions. Second-half 2026 guidance assumes a 1 percentage point headwind from the roll-off of a legacy first-party casualty business, though underlying growth remains consistent at approximately 10%. Management expects to reach high single-digit stock-based compensation as a percentage of revenue by 2027, down from the current 11% to 12% range. The company remains confident in its long-term target of approximately 80% adjusted gross margin as newer solution revenue scales and offsets recent infrastructure investments. Guidance for the remainder of the year reflects a path toward 100 basis points of adjusted EBITDA margin expansion at the high end of the range through disciplined expense management. Gross Dollar Retention (GDR) remained consistent at 98%, with minor fluctuations primarily attributed to churn within the independent repair shop industry. The company highlighted a $2 million one-time benefit in the prior year period (Q2 2025) related to a vendor relationship exit, which impacted year-over-year margin comparisons. Free cash flow margin expanded by 500 basis points to 28%, though approximately 200 basis points of this was due to favorable timing of tax payments. The acquisition of EvolutionIQ (EIQ) is being leveraged to build new products like Medhub, which applies disability-market technology to complex auto casualty claims. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that large carriers only move to full deployment after extensive testing proves the tools are robust and generate near-term value. The value is increasingly derived from the interaction between different network participants, such as repair facilities and insurers, rather than isolated software use. While AI is a significant growth driver, the core business remains consistent; management declined to provide specific 2027 acceleration targets but emphasized the 10-year AI journey is now hitting a 'production' phase. Go-to-market teams have been expanded specifically to handle the 'change management' required for customers to transition from pilots to enterprise-wide AI use. CCC's subrogation solution differentiates itself by integrating across the entire claim workflow, including photos and insights from other parts of the ecosystem, rather than acting as a standalone point solution. A recent top-5 carrier win serves as a critical reference point for the industry, demonstrating how manual processes can be automated through the network. Customers are increasingly adding AI solutions mid-contract rather than waiting for renewals because they want to capture the efficiency value immediately after testing is complete. AI solutions are positioned as additive to existing workflows, preventing cannibalization of legacy revenue streams.

This article first appeared on GuruFocus. Release Date: July 30, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Total revenue grew 10% year over year to $286 million, above the high end of guidance. AI-based solutions generated over $120 million in annualized revenue, growing nearly 50% year over year. Software gross dollar retention remained strong at 98%, indicating high customer loyalty. Free cash flow increased 36% year over year to $308 million, with margin expansion of 500 basis points. Major customer expansions, including top 5 insurers adopting AI solutions like First Look and subrogation, demonstrate strong momentum. Adjusted gross margin declined modestly to 76% from 78% a year ago due to investments. Adjusted EBITDA margin decreased 110 basis points year over year to 40%. Back-half revenue growth guidance implies a slowdown to approximately 9% year over year. A 1-point headwind from the roll-off of legacy first-party casualty business is expected in Q3 and Q4. Operating expenses rose 7% year over year due to higher resource costs, professional fees, and technology investments. Warning! GuruFocus has detected 3 Warning Sign with CCC. Is CCC fairly valued? Test your thesis with our free DCF calculator. Q: How is the adoption of AI solutions translating into customer and revenue momentum, and what does this signal about the broader market?A: Gitesh Ramamurthy, Chairman and CEO: Customers are increasingly moving AI from pilot programs to production-scale deployment across complex, high-value workflows. This is evidenced by multi-year commitments and expansions from top insurers, such as a TOP5 carrier expanding its use of our AI-powered subrogation solution after a multi-year enterprise agreement. These decisions underscore that insurers view AI as a strategic priority and CCC as a long-term technology partner, with AI-based solutions now generating over $120 million in annualized revenue and growing nearly 50% year-over-year. Q: Can you break down the 4 points of growth from AI this quarteris it from deeper rollouts with existing customers or new module attachments?A: Gitesh Ramamurthy, Chairman and CEO: It's both. We are seeing existing customers expand by adding new solutions, like a TOP5 carrier that renewed core solutions and added a new AI solution. We also see customers converting from evaluations and pilots, as well as adding newer solutions like First Look and Subrogation. This dual motion is driving the growth. Q: How should we think about the underlying momentum heading into next year, especially with AI growing 45%? When might we see a return to double-digit growth?A: Katie Coleman, Treasurer and GVP Finance: We've seen meaningful growth acceleration this year, with organic revenue growth guiding to 10% for the full year, up from 7% last year. AI revenue is contributing more meaningfully, but the core remains consistent. In the second half, there's a 1-point headwind from a casualty customer transition, but normalizing for that, growth is still around 10%. We're not guiding for 2027 yet, but we feel good about the momentum. Q: What differentiated CCC in the evaluation for the AI-enabled subrogation solution with the largest carrier to date, and is this a key reference customer?A: Tim Wells, President: Subrogation is an esoteric area where carriers communicate to resolve claims involving multiple parties. Our differentiation comes from using AI across the entire claim process, leveraging our network and ecosystem to provide insights for faster, more accurate resolution. This is a classic example of a solution integrated across the workflow, not just a point solution. It's definitely a great reference and we're seeing strong momentum for this solution. Q: How are you targeting customers for AI solutionsare they adopting at renewal or mid-cycle?A: Tim Wells, President: We're seeing both. Many customers add AI solutions at renewal, building on our existing workflow platforms. But we're also seeing carriers add AI solutions mid-cycle because they want to capture the value immediately after testing. For example, the subrogation solution was added separately from a renewal. This parallel go-to-market motion is driving adoption. Q: How is the legacy EIQ business performing, and are there cross-sell opportunities?A: Gitesh Ramamurthy, Chairman and CEO: The EIQ business continues to be solid. It has expanded our solutions into the disability market for large carriers and private employers. More exciting is the new product, MedHub, built on that core technology for casualty operations. It synthesizes complex medical claims for auto and is being well-received by our customer base. Q: The full-year adjusted EBITDA guide implies a steeper ramp in Q4 relative to Q3. Did some expenses from Q2 slip into Q3?A: Rod Christo, Interim CFO: We manage margins over the full year, and individual quarters can be affected by timing. Q2 had our industry conference, which can impact margins. For the full year, we're on track to deliver 100 basis points of expansion at the high end of the guide, and year-to-date we're showing 100 basis points improvement. A single quarter being down isn't a concern. Q: How quickly can customers deploy and ramp AI solutions, and what does that mean for near-term visibility?A: Gitesh Ramamurthy, Chairman and CEO: We are 10 years into our AI journey, with the first commercial rollout five years ago. Customers have tested, deployed, and gained confidence because tens of thousands of users are comfortable with our AI and its results. This experience, combined with our focus on delivering outcomes like cycle time reduction and efficiency gains, allows for rapid deployment and gives us strong visibility into growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in CCC Intelligent Solutions Holdings Inc. Common Stock? Here are five stocks we like better. CCC exceeded Q2 guidance, with revenue rising 10% year over year to $286 million and adjusted EBITDA increasing 7% to $115 million, driven by AI products, cross-selling and customer expansion. AI-based solutions generated more than $120 million in annualized revenue, growing nearly 50% year over year and contributing four percentage points to quarterly revenue growth. Customer retention remained strong, with 98% software gross dollar retention and 107% net dollar retention. CCC raised and narrowed its 2026 revenue outlook to $1.158 billion-$1.164 billion and expects adjusted EBITDA of $485 million-$491 million; free cash flow surged 36% year over year to $308 million on a trailing-12-month basis. MarketBeat Week in Review – 12/18 - 12/22 CCC Intelligent Solutions Holdings Inc. Common Stock (NASDAQ:CCC) reported second-quarter 2026 revenue and adjusted EBITDA above its guidance range, supported by growth in AI-based products, cross-selling and customer expansions across insurers and collision repair organizations. Revenue rose 10% year over year to $286 million, while adjusted EBITDA increased 7% to $115 million. Chairman and CEO Githesh Ramamurthy said the results reflected the company’s expanding role in connecting participants across the insurance economy, including insurers, repair facilities, suppliers, OEMs and consumers. → Why SK hynix Could Be the Best AI Chip Stock to Buy Now C4 Therapeutics blasts off: what's next? “Customers are not buying a model. They are buying business outcomes,” Ramamurthy said, pointing to demand for accuracy, efficiency, customer experience and economic value from AI tools embedded in existing workflows. CCC said its AI-based solutions generated more than $120 million in annualized revenue and were growing at nearly 50% year over year. Interim CFO Rod Cristo said AI-based products accounted for about 11% of second-quarter revenue and grew approximately 45% from the prior-year period. → 3 Value ETFs to Consider as Growth Stocks Lag Behind AI solutions contributed four percentage points to the company’s 10% revenue growth during the quarter, primarily driven by auto physical damage, subrogation and EvolutionIQ products. Overall, about 7.5 percentage points of revenue growth came from cross-selling, upselling and AI adoption among existing clients, while new customer logos accounted for about 2.5 percentage points. Ramamurthy said CCC’s AI tools are increasingly being deployed under multiyear commitments and at production scale rather than remaining in pilot programs. The company said it supports more than 900,000 users and has AI trained on tens of millions of claims. → 5 AI Stocks Are Pulling Back—Which Growth Catalysts Still Look Strongest? During the quarter, two top-five insurers expanded their use of CCC’s AI-enabled claims workflows by deploying its FirstLook solution. One carrier added FirstLook alongside a multiyear extension of its auto physical damage offerings, while the other added the product under an existing multiyear agreement. FirstLook is designed to identify total-loss claims earlier, which CCC said can help lower rental and storage costs, allow repair facilities to focus on repairable vehicles and speed claim resolution for consumers. CCC also said a top-five insurer that had previously renewed and expanded its enterprise agreement further enlarged its relationship during the second quarter by becoming the company’s largest carrier adopter of its AI-powered subrogation solution. The deployment is scaling rapidly, according to management. CCC reported software gross dollar retention of 98% in the second quarter, unchanged from the first quarter. Cristo said the company’s gross retention has remained between 98% and 99% since it began reporting the metric five years ago, with variation largely tied to churn in the repair-shop industry. Software net dollar retention was 107%, matching the prior quarter and improving from 106% for full-year 2025. The measure includes cross-selling, upselling and volume changes in the company’s auto physical damage customer base. The company also renewed and expanded a multiyear agreement with one of the nation’s largest independent collision repair operators. That customer uses CCC’s Jumpstart technology to initiate about 98% of its repair estimates and has begun adopting Mobile Jumpstart 2.0, which uses agentic AI to assist with estimate creation. Management said other large multi-shop operators also increased adoption of AI-based solutions, with double-digit growth in participating repair facilities and estimates initiated through Jumpstart. Ramamurthy emphasized the complexity of modern claims, which can involve towing, diagnostics, parts procurement, repair, rentals, medical care, payments and subrogation. CCC said it works with more than 250 ecosystem partners across more than 20 business areas. Among recent examples, CCC highlighted its partnership with Sunbit, which offers financing options to consumers at vehicle drop-off. Since the solution launched in April, more than 2,000 shops have been onboarded and millions of dollars have been financed, the company said. One of the largest U.S. multi-shop operators has deployed the offering across its network. CCC also cited its Tempus integration, which enables insurers to access medical-claims analysis and resolution services within the CCC claims workflow. Approximately 20 carriers, including multiple top-10 insurers, use the integrated service, according to the company. The company said it now works with 10 diagnostic partners and that several OEMs have extended relationships with CCC through connected-car initiatives, including its Accident Advisor offering. Adjusted gross profit was $217 million, producing an adjusted gross margin of 76%, compared with 78% a year earlier. Cristo said CCC remains confident in progressing toward its long-term target of approximately 80% as newer solution revenue scales. Adjusted operating expenses increased 7% year over year to $116 million, reflecting higher personnel-related expenses, professional-services fees and technology investments. Adjusted EBITDA margin was 40%, down about 110 basis points from the prior year. However, excluding a $2 million one-time benefit from a vendor relationship exit in the second quarter of 2025, margins were roughly flat year over year. CCC ended the quarter with $116 million in cash and cash equivalents, $1.3 billion in debt and net leverage of 2.5 times adjusted EBITDA. Free cash flow totaled $82 million, compared with $27 million a year earlier. Trailing-12-month free cash flow was $308 million, up 36% year over year, though Cristo said about 200 basis points of free-cash-flow margin expansion reflected favorable tax-payment timing. For the third quarter, CCC expects revenue of $289.5 million to $291.5 million and adjusted EBITDA of $118 million to $120 million. For full-year 2026, the company forecast revenue of $1.158 billion to $1.164 billion and adjusted EBITDA of $485 million to $491 million. The full-year revenue outlook raises and narrows the midpoint of CCC’s prior growth forecast to a range of 9.5% to 10%. The company said third- and fourth-quarter revenue growth is expected to be about 9% year over year, including an approximately one-percentage-point headwind from the roll-off of legacy first-party business. CCC Intelligent Solutions Holdings Inc is a provider of cloud, mobile, AI, telematics, hyperscale technologies, and applications for the property and casualty insurance economy. The company's SaaS platform connects trading partners, facilitates commerce, and supports mission-critical, AI-enabled digital workflows. It operates in a single segment being Domestic segment, which provides SAAS platform for the P&C insurance economy and derives revenues from providing customers with software subscriptions to the platform in addition to providing professional services and non-software services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "CCC Intelligent Solutions Holdings Inc. Common Stock Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for July 2026.

CCC Intelligent Solutions Holdings Inc. (CCC) came out with quarterly earnings of $0.1 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.1 per share when it actually produced earnings of $0.11, delivering a surprise of +10%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. CCC Intelligent Solutions, which belongs to the Zacks Internet - Software industry, posted revenues of $285.93 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.63%. This compares to year-ago revenues of $260.45 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. CCC Intelligent Solutions shares have lost about 23.9% since the beginning of the year versus the S&P 500's gain of 6.9%. While CCC Intelligent Solutions has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for CCC Intelligent Solutions was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.11 on $291.47 million in revenues for the coming quarter and $0.44 on $1.16 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Internet - Software is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Snowflake Inc. (SNOW), another stock in the same industry, has yet to report results for the quarter ended July 2026. This company is expected to post quarterly earnings of $0.45 per share in its upcoming report, which represents a year-over-year change of +28.6%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Snowflake Inc.'s revenues are expected to be $1.47 billion, up 28.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CCC Intelligent Solutions Holdings Inc. (CCC) : Free Stock Analysis Report Snowflake Inc. (SNOW) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

CHICAGO, July 30, 2026 (GLOBE NEWSWIRE) -- CCC Intelligent Solutions Holdings Inc. (“CCC” or the “Company”) (NASDAQ: CCC), a leading SaaS and AI platform provider for the multi-trillion-dollar insurance economy, today announced its financial results for the three months ended June 30, 2026. “CCC delivered another quarter of solid execution, with second quarter revenue growth of 10% and adjusted EBITDA margin of approximately 40%. Our performance reinforces our vision for CCC to be the connective layer for the insurance economy – a network that helps every participant act, not just record,” said Githesh Ramamurthy, Chairman & CEO of CCC. “We continue to see customers deploy AI operationally and at scale to solve real business problems. As adoption expands across our platform, it reinforces the value of our data, workflows, ecosystem connectivity, and guidance capabilities,” continued Ramamurthy. “As the insurance economy becomes increasingly complex, customers are turning to CCC to help connect participants, make better decisions, and improve outcomes across the claims lifecycle. This dynamic is strengthening customer relationships, expanding the role we play across the ecosystem, and increasing our confidence in the long-term growth opportunity.” Second Quarter 2026 Financial Highlights Revenue Total revenue was $285.9 million for the second quarter of 2026, an increase of 9.8% from $260.5 million for the second quarter of 2025. Profitability GAAP gross profit was $210.6 million, representing a gross margin of 74%, for the second quarter of 2026, compared with $194.0 million, representing a gross margin of 74%, for the second quarter of 2025. Adjusted gross profit was $217.3 million, representing an adjusted gross profit margin of 76%, for the second quarter of 2026, compared with $202.5 million, representing an adjusted gross profit margin of 78%, for the second quarter of 2025. GAAP operating income was $47.6 million for the second quarter of 2026, compared with GAAP operating income of $24.5 million for the second quarter of 2025. Adjusted operating income was $101.6 million for the second quarter of 2026, compared with adjusted operating income of $94.2 million for the second quarter of 2025. GAAP net income was $20.8 million for the second quarter of 2026, compared with GAAP net income of $13.0 million for the second quarter of 2025. Adjusted net income was $61.3 million for the second quarter of 2026, compared with $58.9 million for the second quarter of 2025. Adjusted EBITDA was $115.5 million for the second quarter of 2026, up 6.8% compared with adjusted EBITDA of $108.1 million for the second quarter of 2025. Liquidity CCC had $115.9 million in cash and cash equivalents and $1.27 billion of total debt as of June 30, 2026. The Company generated $101.6 million in cash from operating activities and had free cash flow of $82.4 million for the second quarter of 2026, compared with $43.1 million in cash generated from operating activities and free cash flow of $27.4 million for the second quarter of 2025. 2nd Quarter and Recent Business Highlights Large insurers continue to operationalize AI-enabled workflows. During the quarter, two top-five insurers (based on 2025 direct premium written) expanded their adoption of CCC’s AI-based claims routing solution, underscoring growing demand for AI-powered claims routing and early total-loss identification capabilities. These wins provide further evidence of the meaningful operational and financial benefits the solution can deliver, helping insurers identify total losses sooner, improve repair facility capacity utilization, and accelerate resolution for policyholders. Leading insurer adopts AI-enabled subrogation solution. During the quarter, a top-five insurer (based on 2025 direct premium written) adopted CCC’s AI-based subrogation solution, becoming the largest carrier to do so to date and rapidly scaling deployment under a multi-year agreement. The win reflects growing demand for AI-enabled automation in complex, high-value claims workflows where accuracy and consistency are critical. Leading MSO contract renewal and expansion. One of the nation’s largest multi-store operators (MSOs) renewed and expanded its multi-year relationship with CCC during the second quarter. The customer is also a leading adopter of Mobile Jumpstart, CCC's AI-powered estimating solution for repair facilities, using the platform to initiate 98% of its repair estimates. Broader adoption of AI-enabled workflows across the repair industry was reflected in two additional large MSOs that expanded their use of Mobile Jumpstart, driving double-digit increases in both participating repair facilities and estimates initiated through the platform. Business Outlook Based on information as of today, July 30, 2026, the Company is issuing the following financial guidance: Conference Call Information CCC will host a conference call today, July 30, at 8:00 a.m. (Eastern Time) to discuss the Company’s financial results and financial guidance. A live webcast of this conference call will be available on the “Investor Relations” page of the Company’s website at https://ir.cccis.com, and a replay will be archived on the website as well. About CCC Intelligent Solutions CCC Intelligent Solutions Inc. (CCC), a subsidiary of CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCC), is a leading SaaS and AI platform provider for the multi-trillion-dollar insurance economy, creating intelligent experiences for insurers, repairers, automakers, part suppliers, and more. The CCC Intelligent Experience (IX) Cloud™ platform, powered by proven AI and an innovative event-based architecture, connects more than 35,000 businesses to power customized applications and platforms for optimal outcomes and personalized experiences that just work. Through purposeful innovation and the strength of its connections, CCC technologies empower the people and industry relied upon to keep lives moving forward when it matters most. Learn more about CCC at www.cccis.com. Forward Looking Statements This press release contains forward-looking statements that are based on beliefs and assumptions and on information currently available. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Forward-looking statements in this press release include, but are not limited to, future events, goals, plans and projections regarding the Company’s financial position, results of operations, market position, product development and business strategy. Such differences may be material. We cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward looking statements are subject to a number of risks and uncertainties, including, among others, our revenues, the concentration of our customers and the ability to retain our current customers; our ability to negotiate with our customers on favorable terms; our ability to maintain and grow our brand and reputation cost-effectively; the execution of our growth strategy; the impact of factors outside our control including public health outbreaks, natural catastrophes, war and terrorism; our projected financial information, growth rate and market opportunity; the health of our industry, claim volumes, and market conditions; changes in the insurance and automotive collision industries, including the adoption of new technologies; global economic conditions and geopolitical events; competition in our market and our ability to retain and grow market share; our ability to develop, introduce and market new enhanced versions of our solutions; our sales and implementation cycles; the ability of our research and development efforts to create significant new revenue streams; changes in applicable laws or regulations; changes in international economic, political, social and governmental conditions and policies, including corruption risks in China and other countries; our reliance on third-party data, technology and intellectual property; our ability to protect our intellectual property; our ability to keep our data and information systems secure from data security breaches; changes in our customers’ or the public’s perceptions regarding the use of artificial intelligence; our ability to acquire or invest in companies or pursue business partnerships; our ability to raise financing in the future and improve our capital structure; our success in retaining or recruiting, or changes required in, our officers, key employees or directors; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our ability to expand or maintain our existing customer base; our ability to service our indebtedness; and other risks and uncertainties, including those included under the header “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the Securities and Exchange Commission (“SEC”), which can be obtained, without charge, at the SEC’s website (www.sec.gov), and in our other filings with the SEC. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. Non-GAAP Financial Measures This press release includes certain financial measures not presented in accordance with generally accepted accounting principles in the U.S. (“GAAP”), including, but not limited to, “adjusted EBITDA,” “adjusted EBITDA margin,” “adjusted net income,” “adjusted operating income,” “adjusted gross profit,” “adjusted gross profit margin,” “adjusted operating expenses,” and “free cash flow” in each case presented on a non-GAAP basis, and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to other measures of profitability, liquidity or performance under GAAP. You should be aware that the Company’s calculation of these non-GAAP measures may not be comparable to similarly-titled measures used by other companies. The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Please refer to the reconciliations of these measures below to what the Company believes are the most directly comparable measures evaluated in accordance with GAAP. This press release also includes certain projections of non-GAAP financial measures. Due to the high variability and difficulty in making accurate forecasts and projections of some of the information excluded from these projected measures, together with some of the excluded information not being ascertainable or accessible, the Company is unable to quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of the forward-looking non-GAAP financial measures is included for these projections. Investor Contact:Bill WarmingtonVP, Investor Relations, CCC Intelligent Solutions [email protected] Media Contact:Michelle HellyarSenior Director, Public Relations, CCC Intelligent Solutions [email protected]

CCC Intelligent Solutions Holdings Inc. (CCC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on July 30, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +11.1%. Revenues are expected to be $284.16 million, up 9.1% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For CCC Intelligent Solutions, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -37.93%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that CCC Intelligent Solutions will beat the consensus EPS estimate. Analysts often consider to what extent a company has been able to match consensus estimates in the past while calculating their estimates for its future earnings. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that CCC Intelligent Solutions would post earnings of $0.1 per share when it actually produced earnings of $0.11, delivering a surprise of +10.00%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. CCC Intelligent Solutions doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Another stock from the Zacks Internet - Software industry, Meta Platforms (META), is soon expected to post earnings of $7.13 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of -0.1%. Revenues for the quarter are expected to be $60.17 billion, up 26.6% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Meta Platforms has been revised 0.6% up to the current level. Nevertheless, the company now has an Earnings ESP of -2.13%, reflecting a lower Most Accurate Estimate. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that Meta Platforms will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CCC Intelligent Solutions Holdings Inc. (CCC) : Free Stock Analysis Report Meta Platforms, Inc. (META) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

A week ago, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCC) came out with a strong set of quarterly numbers that could potentially lead to a re-rate of the stock. It was overall a positive result, with revenues beating expectations by 2.5% to hit US$281m. CCC Intelligent Solutions Holdings reported statutory earnings per share (EPS) US$0.03, which was a notable 11% above what the analysts had forecast. The analysts typically update their forecasts at each earnings report, and we can judge from their estimates whether their view of the company has changed or if there are any new concerns to be aware of. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Taking into account the latest results, the most recent consensus for CCC Intelligent Solutions Holdings from eleven analysts is for revenues of US$1.16b in 2026. If met, it would imply a credible 6.8% increase on its revenue over the past 12 months. Per-share earnings are expected to jump 129% to US$0.14. Yet prior to the latest earnings, the analysts had been anticipated revenues of US$1.15b and earnings per share (EPS) of US$0.13 in 2026. So it's pretty clear that, although the analysts have updated their estimates, there's been no major change in expectations for the business following the latest results. Check out our latest analysis for CCC Intelligent Solutions Holdings The analysts reconfirmed their price target of US$8.82, showing that the business is executing well and in line with expectations. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. There are some variant perceptions on CCC Intelligent Solutions Holdings, with the most bullish analyst valuing it at US$14.00 and the most bearish at US$6.00 per share. Note the wide gap in analyst price targets? This implies to us that there is a fairly broad range of possible scenarios for the underlying business. Of course, another way to look at these forecasts is to place them into context against the industry itself. The period to the end of 2026 brings more of the same, according to the analysts, with revenue forecast to display 9.1% growth on an annualised basis. That is in line with its 10% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 16% per year. So although CCC Intelligent Solutions Holdings is expected to maintain its revenue growth rate, it's forecast to grow slower than the wider industry. The most obvious conclusion is that there's been no major change in the business' prospects in recent times, with the analysts holding their earnings forecasts steady, in line with previous estimates. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it's tracking in line with expectations. Although our data does suggest that CCC Intelligent Solutions Holdings' revenue is expected to perform worse than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates. With that said, the long-term trajectory of the company's earnings is a lot more important than next year. We have estimates - from multiple CCC Intelligent Solutions Holdings analysts - going out to 2028, and you can see them free on our platform here. You still need to take note of risks, for example - CCC Intelligent Solutions Holdings has 3 warning signs (and 1 which is a bit unpleasant) we think you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Performance was driven by strong customer demand for AI-based solutions, which grew at 3.5x the total company rate and now represent approximately 10% of total revenue. Management attributes the successful adoption of AI to the 'marriage' of AI with deterministic software, providing the governance and trust required in a highly regulated industry. Strategic positioning is centered on solving 'rising complexity' in the insurance economy, where vehicle sophistication and regulatory requirements increase claim severity and coordination needs. The company is successfully transitioning from a core software provider to an AI-enabled platform, evidenced by a top 5 insurer renewing and adding a full AI layer across its entire physical damage suite. Casualty momentum is accelerating through the integration of EvolutionIQ capabilities, specifically the MedHub solution, which is helping to capture market share from incumbents. The economic model remains resilient by pricing products on a measurable 5:1 ROI basis, leveraging over $2 trillion of unique historical data that competitors cannot easily replicate. Full-year 2026 revenue guidance was raised to 9% to 10% growth, reflecting strong Q1 results and continued momentum in AI and casualty segments. Management expects a 1-point revenue headwind in the second half of 2026 as one insurance carrier transitions away from a legacy first-party casualty product. Adjusted EBITDA margins are expected to decline sequentially in Q2 due to the phasing of spend but are projected to resume year-over-year expansion in the second half. Stock-based compensation is projected to remain at approximately 13% of revenue for the full year 2026, with a strategic path to reach single digits by 2027. The company assumes that claim cost growth will continue to outpace claim frequency moderation, creating a durable long-term tailwind for mission-critical software adoption. CFO Brian Herb will step down at the end of May 2026 to pursue other opportunities, with 30-year veteran Rod Christo serving as Interim CFO. Q1 revenue included more than 1 point of impact from non-recurring items, including subscription contract true-ups and transactional strength in the casualty business. The company completed a $300 million accelerated share repurchase (ASR) program in Q1, part of a broader $500 million authorization to return capital to shareholders. Software gross dollar retention (GDR) was 98%, a slight decrease from 99% in the prior quarter, primarily attributed to typical churn within the repair shop segment. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management confirmed that recent casualty wins included a multiyear agreement with Allstate for their third-party casualty business and noted that CCC's solution replaced an incumbent at another customer. The success is attributed to the combination of core tools with EvolutionIQ's AI document insights, which addressed specific customer needs for complex casualty workflows. AI solutions typically provide a 50% pricing uplift over core software costs for auto physical damage (APD) customers. Pricing is structured on an ROI basis, allowing CCC to capture value both through new product bundles and during contract renewals as customers scale their usage. While customers are exploring various AI technologies, management stated that CCC's decades of trust and embedded workflows provide a significant competitive advantage over AI-native startups. The extensive testing period (often 2-3 years) for large carriers creates high barriers to entry for competitors lacking deep industry integration and historical data. Management currently prioritizes the significant TAM expansion available within the U.S. market, particularly in casualty, disability, and workers' compensation. While international opportunities are recognized as substantial, the company remains focused on domestic execution where its core customer base of U.S. insurers is concentrated. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Image source: The Motley Fool. Tuesday, Feb. 24, 2026 at 5 p.m. ET Chairman and Chief Executive Officer — Githesh Ramamurthy Chief Financial Officer — Brian Herb Need a quote from a Motley Fool analyst? Email [email protected] Githesh Ramamurthy, CCC's Chairman and CEO; and Brian Herb, CCC's CFO. The forward-looking statements we make today about the company's results and plans are subject to risks and uncertainties that may cause the actual results and the implementation of the company's plans to vary materially. These risks are discussed in the earnings releases available on our Investor Relations website and under the heading Risk Factors in our 2025 annual report on Form 10-K, which we will file with the SEC later today. Further, these comments and the Q&A that follows are copyrighted today by CCC Intelligent Solutions Holdings, Inc. Any recording, retransmission or reproduction or other use of the same for profit or otherwise without prior consent of CCC is prohibited and a violation of United States copyright and other laws. Additionally, while we will provide a transcript of portions of this call, and we've approved the publishing of a transcript of this call by a third party, we take no responsibility for inaccuracies that may appear in the transcripts. Please note that the discussion on today's call includes certain non-GAAP financial measures as defined by the SEC. The company believes these non-GAAP financial measures provide useful information to management and investors regarding certain financial and business trends relating to the company's financial condition and the results of operations. A reconciliation of GAAP to non-GAAP measures is available in our earnings release that is available on our Investor Relations website. Thank you. I'll now turn the call over to Githesh. Githesh Ramamurthy: Thank you, Bill, and thanks to all of you for joining us today. I'm pleased to report that CCC delivered another quarter of strong top and bottom line performance to cap off a solid 2025. For the fourth quarter of 2025, CCC's total revenue was $278 million, up 13% year-over-year and above the high end of our guidance range. Adjusted EBITDA for the fourth quarter was $119 million, also above the high end of our guidance range, and adjusted EBITDA margin was 43%. Looking at the full year 2025, revenue was $1.057 billion, up 12% year-over-year. Adjusted EBITDA was $436 million with an adjusted EBITDA margin of 41%. 2025 was a year of many significant milestones for CCC. We crossed the $1 billion revenue threshold for the first time, up more than $350 million since we went public in late 2021. 85% of our revenue now comes from subscriptions with continued strong EBITDA margins and annual free cash flow crossing $250 million for the year, also a record high. We also continue to benefit from exceptionally strong customer relationships. During 2025, we renewed and expanded numerous clients across the business, including several Tier 1 insurers and the largest collision repair provider in the United States. We also continue to add significant new customers across our markets. For example, adding two new auto manufacturers so that we now serve 14 of the top 15 OEMs in the United States. Our gross dollar retention was once again 99%, a testament to the value we provide and the strength of our client relationships. In aggregate, we ended the year with approximately 900,000 registered users of our solutions, who collectively process over $200 billion of commerce per year. Finally, we were thrilled to complete our acquisition of EvolutionIQ, a pioneer in AI claims guidance and the leader in bodily injury claims resolution. Throughout 2025, EvolutionIQ continued to add new customers and modules across disability and workers' comp product lines. And we were excited to introduce EvolutionIQ's capabilities to CCC's casualty customers. We anticipate continued momentum there in the years ahead. Looking ahead to 2026, we see a generational opportunity in front of us and CCC is uniquely well positioned to capitalize on it. I will cover this in three themes. Our excitement around the opportunity AI represents for our industry and CCC, how this reinforces our durable economic model and long-term growth; and finally, how we are approaching go-forward capital allocation in light of that strength. Turning to my first theme. The reason we're so excited about AI is that it's a powerful force that makes CCC's platform even more important over time. CCC's advantage has never been just a single model or feature. It is the combination of proprietary and hyper-local data, a deeply connected network and embedded workflows that allow complex decisions to be made reliably, consistently and at scale in an industry with a very high bar for governance, compliance and accountability. A common question we hear is whether rapid advances in AI that can establish platforms. Our experience says the opposite. In regulated multiparty industries like insurance, AI increases the need for trusted data, governed workflows and platforms that can operate safely at scale. As many of you know, CCC has been an AI pioneer and leader for over a decade. We were an early innovator in deep learning computer vision AI, having been among the first companies in any sector to bring AI solutions to market and have stayed at the forefront of every major AI leap since. Our AI solutions have been used to process tens of millions of unique real-world claims representing many billions of dollars. AI is embedded in our products, our support and our internal operations. While other companies talk about AI in theory, we have been in production at scale for years. Nearly $100 million of our annual $1 billion of revenue comes from real-world AI products that our customers use in their businesses every day. Importantly, these solutions are not stand-alone tools. They are embedded directly into mission-critical workflows where decisions carry financial, regulatory and operational consequences. All of this gives us a unique perspective into the generational opportunity AI represents for our industry and for CCC. Our industry, the insurance economy, is attempting to navigate many challenges, some common to other industries and some on its own. Like many industries, the insurance economy is facing a massive structural labor shortfall in the coming years. Insurance appraisers, collision repair technicians and many other roles are facing a wave of retirements with insufficient talent pipelines to fill the gap. Macro pressures and uncertainties add to this dynamic. Add to that, the enormous and never-expanding complexity of the insurance economy itself. An ecosystem with tens of thousands of companies, rapidly advancing vehicle technology, persistent medical inflation, changing regulations and many other forces are why more than 1 billion days elapse every year from auto claims being open to auto claims being closed. We began investing in AI more than a decade ago because we knew automation would be essential to navigating these long-term structural challenges, not because it was a short-term technology cycle. There is the same that Fortune favors to prepare, and we have been preparing for the insurance economy's inflection on AI for some time. We believe the industry is now entering a phase where AI moves from experimentation to scale deployment and CCC is positioned to be the platform on which that deployment occurs. As we look to scale this opportunity, execution discipline matters more than ever. This is why we strengthened senior product leadership with the addition of Josh Valdez as Chief Product Officer. Josh brings deep experience leading large-scale platform-centric product organizations, most recently overseeing global product management at Dayforce and previously at Workday. His background is directly relevant as we embed AI more deeply into mission-critical workflows and expand across products, customers and markets. Since joining CCC, Josh has been focused on sharpening prioritization, strengthening road map discipline and accelerating the delivery of capabilities that customers can deploy at scale. CCC has been a system of action for decades. While our platform does many things, at its core, CCC is a collection of incredibly complex, deeply interconnected and massively real-time decision engines for a highly regulated industry where outcomes must be governed, explainable and defensible. Hundreds of billions of dollars in payouts across the insurance economy every year and the path for AI to supercharge them is via those decision engines. Let me make this real. We were able to build highly effective AI solutions because we have an enormous repository of proprietary data representing more than $2 trillion of actual real-world outcomes. That data is contextual, claim-specific and continuously validated through real transactions, which is what makes it usable in regulated environments. Scale alone is not the challenge. The challenge is complexity. Insurance decisions depend on hyper-local pricing, insurer-specific rules, regulatory requirements and the coordination across many parties. What matters most is not what something costs on average, but what it costs for a specific vehicle in a specific location under a specific set of rules at a specific point in time. We do this for more than 20 million unique vehicles per year. And to do that, our systems process more than 2 million business events every day across 2 million labor rate profiles, 7.4 million part SKUs, 62,000 insurer audit rules, 5.5 billion live part quotes and more than 200,000 insurer-to-shop relationships and 13,000 unique jurisdictions. This is not a static data repository. It is a living operational system that reflects how work actually gets done in the insurance economy. From there, the output of those decision engines needs to be put into action. And the path for that is through the CCC network. CCC connects more than 35,000 companies, including 27 of the top 30 auto insurers, 30,000-plus repair facilities, over 6,000 parts suppliers, 14 of the 15 top OEMs and hundreds of software and service partners, all of them interacting and negotiating constantly throughout the day. These are not just workflows. They are the core operating rails of one of the largest industries on earth. The combination of our AI platform and network are contributing to customers increasingly looking to standardize their operations on CCC, and there are also many product advantages to doing so. For example, at the beginning of a claim, our AI can triage both damage to a vehicle and potential injuries to its occupants with substantial synergies in claims handling efficiency and customer experience. These benefits continue across the life of the claim or repair and are one of the reasons we are seeing auto physical damage customers increasingly choose CCC for casualty and also why we are seeing customers of all types purchase more of our core solutions in general. Over time, we anticipate that customers will increasingly want to leverage the full set of CCC solutions to maximize their investments in AI regardless of where or how those investments are developed. We fundamentally believe that AI is most valuable when it performs real work in our customers' businesses that impacts their end customers' lives. As customers increasingly embrace this reality, it drives greater reliance on CCC's platform, data and network. This dynamic is a massive long-term tailwind for both the industry and for CCC, and we are ready to enable it. I'd like to turn next to how this trend reinforces our durable economic model and long-term growth. While our AI has been battle tested and is in production across more than 125 insurers and over 15,000 collision repairs, we are still just scratching the surface of AI product penetration and monetization. Every client using our AI is different in terms of the particular AI products they've chosen to adopt, and they also differ in the velocity of that adoption. Over the past few years, our teams have spent considerable amount of time educating customers on AI and helping them work through the change management needed to leverage AI at scale within their organizations. This gave us great learnings from our early adopters, and we started to see a notable acceleration of AI adoption across our entire customer base in 2025. Our AI suite is the fastest-growing part of the CCC portfolio. AI has now grown to roughly 10% of total revenue, and we expect that contribution to increase over time. While adoption continues to scale, utilization today ranges from low single-digit to low double-digit percentages of total claims processed depending on the solution. This dynamic highlights both accelerating customer adoption and how early we remain in the adoption curve, giving us, in effect, a long runway for growth as usage scales. Because of our long track record in AI, we know how to build and deploy these solutions cost effectively. Our AI portfolio has a similar economic profile to the rest of our products, and they are configurable by customer instead of custom model builds. We have also seen strong results from the deployment of AI in our internal operations, and we anticipate additional gains as these grow in scope and usage. The strength of our business model has also enabled us to make other investments to capitalize on this opportunity. We developed and launched our event-based architecture IX Cloud to make it easier for customers to use our AI-enabled products across their businesses and have made substantial investments in talent to build on our leadership position. This includes key hires in sales and product management functions who bring deep experience in building, scaling and selling AI-driven solutions to enterprise and SMB clients. We have streamlined many of our packages and selling motions, and we'll continue to optimize these in the spirit of delivering top-tier value and reference level service. Our acquisition of EvolutionIQ didn't just bring world-class AI capabilities and a strong extension to our casualty portfolio, it also expanded CCC's addressable market beyond auto. EvolutionIQ's continued new logo wins in 2025 now gives us a customer roster of 9 of the top 15 disability carriers in the United States. EvolutionIQ also brought CCC into workers' compensation, the third largest P&C insurance line after auto and home. EvolutionIQ further expanded the scale of its workers' compensation opportunity by partnering with the largest TPA in the world to serve the self-insured market with strong early client traction. In addition, as we integrate EvolutionIQ more deeply into our auto casualty suite, we are beginning to see tangible progress in the cross-sell motion with our casualty customers. MedHub for casualty is gaining interest as insurers look to apply AI-driven medical record insights within complex injury claims. and we have signed our first casualty customer for this solution with several additional carriers in advanced stages of evaluation. We also cross-sold EvolutionIQ's workers' compensation offering to an existing CCC customer for the first time. This early traction supports our view that EvolutionIQ meaningfully expands our addressable opportunity in casualty and P&C in general over time. The strength of our economic model allowed us to deliver 41% EBITDA margins for the year despite making large-scale investments in R&D and absorbing some near-term losses from EvolutionIQ. The size of the opportunity ahead of us gives us confidence in our ability to grow at attractive rates while also increasing margins and free cash flow for many years to come. Finally, I'd like to make a few comments on capital allocation. We are incredibly excited about the growth pathways in front of us, and we are fortunate to have made many long-term investments ahead of this cycle to prepare us for this moment. While our top priority will always be product innovation, the strength of our business model enabled us to deliver more than $250 million in free cash flow last year, which affords us the flexibility to decide how we allocate excess cash and optimize our capital allocation. In recent years, we have been deliberate about returning cash to shareholders by buying back a significant number of shares. In Q4, we completed a $300 million share repurchase program, and our Board of Directors authorized an additional $500 million in repurchases, which we immediately activated by entering into a $300 million accelerated share repurchase transaction. We believe repurchasing shares is the best use of our excess cash, particularly at current levels that we believe meaningfully undervalues this business. As Brian will detail, CCC's strong fundamentals support ongoing top line growth, margin expansion and free cash flow generation. which will give us many opportunities to maximize total shareholder return while continuing to reinforce our position as the leader and product innovator in our industry. We look forward to a very exciting 2026. With that, I'll turn the call over to Brian, who will walk you through our financial results and outlook in more detail. Brian Herb: Thanks, Githesh. As Githesh outlined, 2025 was a year of important investments to support our long-term growth. From a financial perspective, revenue performance improved through the year, supported by strong momentum in our AI and emerging solutions, and we generated healthy adjusted EBITDA and free cash flow while maintaining a disciplined approach to capital allocation. Now let's turn to the numbers. I'll review our fiscal year and fourth quarter 2025 results and then provide guidance for the first quarter and full year 2026. For the fiscal year 2025, total revenue was $1.057 billion, which is up 12% over 2024. Adjusted EBITDA for the year was $436 million, up 10% year-over-year with an adjusted EBITDA margin of 41%. Excluding the impact of EvolutionIQ, adjusted EBITDA margin expanded over 200 basis points on a year-over-year basis in 2025. Now I'll turn to the fourth quarter results and detail out the performance. In the fourth quarter, total revenue was $278 million, which was up 13% from the prior year period and above the high end of our revenue range of $272 million to $277 million. Approximately 8 percentage points of revenue growth came from organic CCC and 5 points came from EvolutionIQ, which is consistent with our expectations. Of the 8% of growth, about 5.5 points were driven by cross-sell, upsell and the adoption of our solutions across our client base, including repair shop upgrades, the continued adoption of our emerging solutions and casualty. Approximately 2.5 points of growth came from new logos. In the quarter, emerging solutions contributed more than 2 points of total revenue growth, driven primarily by our AI-based APD solutions, subrogation, diagnostics and build sheets. Emerging solutions continue to represent an important and expanding part of our portfolio, accounting for approximately 5% of total revenue in the fourth quarter of 2025 and growing over 70% year-over-year. Industry claim volumes in Q4 declined 6% year-over-year. However, Q4 2024 had a large number of severe weather events. Normalizing out for those events, underlying claim volume in Q4 2025 were down less than 3% year-over-year. Claim volume decline continued to moderate throughout the year. Also, we have proactively been moving clients from transactional-based arrangement to subscription contracts on renewal. As a result, revenue tied to subscription contracts have continued to increase and now represent about 85% of total revenue. We expect the impact of claim volume fluctuation on our business to decrease over time. Turning to our metrics of software gross dollar retention or GDR and software net dollar retention of NDR. Please note that both of these metrics now include EvolutionIQ, and we are using annualized software revenue on a combined basis for the prior year to provide a prior year baseline for annualized revenue growth. GDR captures the amount of revenue retained from our client base compared to the prior year period. In Q4 2025, our gross dollar retention was 99%. This is in line with the past years. We believe the GDR reflects the value we provide and the significant benefits that accrue to our clients from participating in the broader CCC network. Our strong GDR is a core tenet of our predictable and resilient revenue model. Net dollar retention captures the amount of cross-sell and upsell from our existing client base compared to the prior year period as well as any movements in our auto physical damage client base. In Q4 2025, our NDR was 106, which is up from 105 in Q3 of 2025. Now I'll turn to the income statement in more detail. As a reminder, unless otherwise noted, all metrics are non-GAAP. We provide a reconciliation of GAAP to non-GAAP metrics in our press release. Adjusted gross profit was $211 million for the quarter with an adjusted gross profit margin of 76%. That's up sequentially and flat year-over-year. The underlying economics of the business continue to demonstrate leverage and scalability, and we remain confident in our ability to progress towards our long-term target of approximately 80% as newer solution revenue scales and offsets higher depreciation from recent investments. In terms of expenses, adjusted operating expense in Q4 2025 was $107 million, which is up 13% year-over-year, including the acquisition of EvolutionIQ. Excluding EvolutionIQ adjusted operating expense was flat year-over-year, reflecting cost discipline, flat year-over-year headcount and some phasing benefits. Adjusted EBITDA for the quarter was $119 million, up 12% year-over-year with an adjusted EBITDA margin of 43%. This was above the high end of the range, which was $106 million to $111 million, reflecting ongoing cost discipline, some phasing benefits, including the timing of hires that have moved into 2026 and stronger-than-expected revenue flow-through in the quarter. Excluding EvolutionIQ operating loss during 2025, full year adjusted EBITDA margins expanded over 200 basis points on a year-over-year basis. Stock-based compensation as a percent of revenue has come down throughout the year as we expected with Q4 being at 12% of revenue. Now let's turn to the balance sheet and cash flow. We ended the quarter with $111 million in cash and cash equivalents and $1.3 billion of debt. At the end of the quarter, net leverage was 2.7x adjusted EBITDA. We continue to deliver strong free cash flow generation. Free cash flow in Q4 was $105 million compared to $106 million in the prior year period. This reflects strong collections and favorable timing on working capital. Free cash flow on a trailing 12-month basis was $255 million, which is up 10% year-over-year. Our trailing 12-month free cash flow margin as of Q4 2025 was 24%, which is consistent with 24% at the end of 2024. We have used our strong free cash flow performance to return capital to shareholders through repurchases. In Q4, we completed the $300 million share repurchase program that we put in place in December of 2024 and announced a new $500 million share repurchase authorization. As a part of that authorization, we initiated a $300 million accelerated share repurchase program that delivered 80% of that value or approximately 33.2 million shares to CCC in mid-December. Upon completion of the ASR and the remaining $200 million buyback commitment, we will have returned over $1.1 billion to shareholders via repurchase over the last 2.5 years. We are committed to a disciplined capital allocation framework, which balances investment in the business and capital return to shareholders to deliver long-term shareholder value. Within the P&L, we will continue to prioritize organic investments in new product capabilities, including AI-based solutions, investments in top talent to execute against our strategic priorities and delivering efficiency across the business. Since going public, we have managed the balance sheet with net leverage under 3x, which we are comfortable operating with and given our growth trajectory and the strong free cash flow generation. We will continue to assess the best use of cash going forward, focused on returning capital to shareholders through share repurchases in the near term while being highly selective with inorganic investments. I'll now turn to guidance for 2026. As a reminder, this is a fully organic position now that we have anniversaried the acquisition of EvolutionIQ. For Q1 2026, we expect revenue of $273.5 million to $275.5 million representing 8.5% to 9.5% growth year-over-year. We expect adjusted EBITDA of $113 million to $115 million, a 42% adjusted EBITDA margin at the midpoint. For the full year 2026, we expect total revenue of $1.147 billion to $1.157 billion, which represents approximately 9% year-over-year growth at the midpoint. For adjusted EBITDA, we expect $477 million to $485 million, which implies a 42% adjusted EBITDA margin at the midpoint. So three things to keep in mind as you think about our Q1 and full year guide. First, we are seeing momentum and good progress across the business as we exited 2025, and we expect this momentum to carry into 2026. Demand across the portfolio remains healthy driven by continued adoption of our AI-enabled solutions, including EvolutionIQ as customers move from early-stage adoption to broader deployment and supported by ongoing cross-sell across our core platforms. Second, we remain confident in our ability to drive continued margin expansion in 2026, consistent with our demonstrated track record. We expect adjusted EBITDA margin in Q1 to expand by approximately 200 basis points year-over-year at the midpoint with expansion moderating down in Q2 due to phasing of spend and resuming year-over-year margin expansion in the second half of the year. This progression is driven by continued cost discipline and the operating leverage in the business. Third, we've made program changes to our equity plan, which, coupled with the business scaling positions stock-based compensation to decline as a percent of revenue. While we made the changes to the plan, we believe the program positions us to continue to attract and retain top talent. Share-based comp is expected to decrease from 17% of revenue in 2025 to 13% of revenue in 2026 with a path to single digits as we move into 2027. In closing, we feel good about the financial position of the business and the durability of our operating model. We crossed the $1 billion revenue milestone in 2025, supported by continued expansion within our existing client base. Our ongoing shift towards subscription revenue now approximately 85% of our total revenue continues to improve visibility and reduces sensitivity of claim volume fluctuations. We delivered solid margin performance and strong free cash flow generation, which enabled us to return meaningful capital to shareholders through share repurchases while maintaining a prudent leverage profile. The capital allocation framework remains consistent and disciplined, prioritizing organic investments to drive growth, maintaining balance sheet strength and returning excess capital to shareholders while highly selective on M&A and being focused on long-term value creation. The sustained margin discipline underscores the scalability and the efficiency of the core business as it continues to grow. Taken together, our predictable operating model, strong cash flow generation and the disciplined capital allocation positions us well as we move into 2026. Operator, we're now ready to take questions. Thank you. Operator: [Operator Instructions] Our first question comes from Josh Baer from Morgan Stanley. Lucas Cerisola: This is Lucas Cerisola on for Josh Baer. Touching on the debate around autonomous vehicles, there is a clear potential for claim volumes to be reduced at some point in the future. Could you anticipate your role, business model or the value you can provide to customers to change in the future? Githesh Ramamurthy: Yes. This is Githesh. When we look at claims in general and we look at the business of our customers and how they operate, we look at really three things that are drivers. There's frequency of claims. There is severity, which is the dollars spent on claims. And third is complexity. What we have seen consistently is that while there's a small decline in claim frequency, what we see with indemnity or dollars spent on severity and complexity far outweighing any shift in frequency. And then, of course, we look at very specific places like San Francisco, where there's a lot more autonomous vehicles. And you may find this very interesting. Our data actually shows that there's actually slightly higher frequency of claims in San Francisco, for example, than the rest of California or the broader market in general. Lucas Cerisola: Got it. That's super helpful. And then do you expect your large insurance carrier customers to in-house any software development for parts of the GCC workflows? Githesh Ramamurthy: Our large customers have always built many components for themselves. So when you think about many of our customers, they have to build, whether it's a financial systems, claim reporting systems, it's a horizontal call center. It's a very broad set of solutions that go horizontally across the company. And where we come in is bring very deep vertical experience around claims, and we've integrated both of those two capabilities. And all our conversations with our customers that we've had over the last year, the last quarter continues to indicate that every customer is excited about expanding with us and with our AI and our solutions, working closely with their own systems. Operator: Our next question comes from Shlomo Rosenbaum from Stifel. Shlomo Rosenbaum: Githesh, could you talk a little bit -- talk to us a little bit about the efforts that you made in the second half of the year and how they continued in the fourth quarter to get the EIQ deals implemented so that you could recognize the revenue because it seems like you had a very good selling motion, but there were some issues in terms of trying to get your customers to actually implement at the time frame that you were expecting. And if you can give us a little bit of a color on how that is progressing and how you expect it to progress in 2026? Githesh Ramamurthy: I would say there were two lessons learned, Shlomo. One is that these are complex implementations. So what our team was able to do was to bring a lot of additional expertise and capability in terms of implementations and deployment. And we've also had significant learnings from the earlier deployments, and we were now able to apply that into the latest implementations. That's why you saw the significant bump in revenue from Q3 to Q4. Shlomo Rosenbaum: And then maybe you could talk a little bit more about some of the components of the EBITDA margin expansion. I understand there were some costs that were pushed forward, pushed into next year. But is there anything where you're getting just more leverage than expected or there's some kind of mix in what's going on that frankly, we're just seeing a faster margin expansion in the business that than expected. And I want to know if that's a trajectory that we should expect going through '26 as well. Brian Herb: Shlomo, it's Brian. I can take that. So I mean, we are very happy with the margin expansion that we saw in '25. When you strip out EvolutionIQ and the losses from them, we delivered about 200 basis points of margin progression year-over-year. And clearly, our EBITDA performance in Q4 was strong relative to the guide that we in the marketplace. So overall, feeling really good about the cost base and the margin progression. A couple of things to unpack. One is we did have flat headcount year-over-year. So we are seeing efficiency across the business. And we're putting substantial investment into the business. But at the same time, through productivity and the use of tools, we were able to maintain a flat headcount year-over-year. We also did have the benefit of some phasing. Some costs came out of '25 and into '26. I'd say that's not significant, but it did help the overall position. So yes, we're feeling good on the cost base as we move out of '25 into '26. Operator: Our next question comes from Bill McNamara from Evercore. William McNamara: This is Bill on for Kirk. Given the recent appointment of Josh Valdez and the accelerating pace of AI, how are you thinking about R&D spend in 2026? Brian Herb: Yes. This is Brian. Yes, we're continuing to focus on our investments in the business. There's a substantial road map of new solutions, product set that we're excited about. We'll continue to invest. At the same time, there are opportunities for efficiency, and we continue to deploy AI tools across the engineering teams. So we feel like we can invest in the business. At the same time, we'll see faster throughput and output. So we're feeling good about both the investment opportunities and being disciplined on our cost base. Githesh Ramamurthy: On the one other point I'd add to what Brian is saying is that we are also in deep engagement across the board for every new solution we're building with clients and the receptivity has been nothing short of terrific. So we are very encouraged. And in terms of not only deployment implementations, but the feedback we're getting from customers about how excited they are about these new solutions. Operator: Our next question comes from Dylan Becker from William Blair. Faith Brunner: It's Faith on for Dylan. Obviously, a large opportunity ahead with AI. Any color on how you're thinking about the adoption curve going into 2026 and beyond now that you have a more solid base of early adopters that can service those early proof points? Kind of what does it take to get the rest of the network on board and expand deployment more broadly? Githesh Ramamurthy: Yes. I would say maybe, Faith, two things to really think through, right? First and foremost, we are further along in terms of referenceable customers for pretty much every new AI solutions we have built, there are multiple customers, whether it's subrogation, whether it is casualty or our new solutions that came out for casualty with AI from -- with some of the AI work we've done with the EIQ team. So we are further along, more referenceable customers. So we are further along that curve. What we are seeing is the -- across our customer base, an increased propensity to want to deploy more AI more aggressively, but at the same time, super, super important for them that the controls, the transparency, all of that is super, super clear. And so those are really the two things we're seeing. So we are seeing that inflection point of customers starting to get much, much more excited about starting to roll this out into '26 as we roll from '25 into '26. Operator: Our next question comes from Adam Hotchkiss from Goldman Sachs. Adam Hotchkiss: Githesh, I know you have AI solutions in a number of areas from repair to claims subrogation. Curious how you would qualitatively lay out for us where that $100 million of revenue from AI-based solutions is coming from most prevalently? And then where are you seeing the most incremental customer interest today over the last couple of months? Githesh Ramamurthy: Sure. At a very macro level, I would say, as we pointed out, our emerging solutions grew 75% in Q4, and a big chunk of that was our AI solutions around auto physical damage. So if I break the business into -- at a very high level in terms of where we're deploying AI into three areas. auto fiscal damage for insurers. So we're seeing adoption of subrogation, reinspection, a whole bunch of tools for the insurance side. We're seeing adoption with repair facilities. I think we hit crossed the 15,000 mark of repairers starting to use our AI solutions. And of course, all of the solutions that our EIQ team develops, those are 100% AI, right? So as that scales and that continues to grow nicely, that is the second area, I would say. The third area of AI is really around casualty where we have introduced with MedHub, which is a medical synthesis solution that takes AI and really synthesizes medical documents. That's a very nice component to our traditional casualty solutions. We are seeing an interest there as well. So I would sequence my answer into those three buckets, AI for auto fiscal damage, AI for disability and workers' comp through the EIQ team and third for casualty. Adam Hotchkiss: Okay. Great. Really helpful, Githesh. Brian, one for you just on gross margin. A lot has been made industry-wide about how Gen AI will impact gross margins over the medium to long term. I guess, first, have you seen any impact from new solutions outgrowing the broader business on gross margin? And how do you think about the net impact of AI and other cost efficiency measures on gross margin over the medium term? Brian Herb: Yes. From a product perspective and a new solution perspective, I mean, the unit economics are strong. And when we look at the unit economics, they'll compare nicely to our existing product portfolio. So we think it will be additive to gross profit. It does cause a short-term gross profit pressure. When we launch the new product, we -- the support cost and we start to depreciate those new solutions, that cost outpaces the revenue until the revenue scales So we do have some pressure on gross profit just as we launch the new products. When those products get to scale, they'll start to be -- they'll contribute positive to the gross profit. As far as our tooling and internal production, that should be helpful to gross profit. And certainly, we think about that both at the gross profit level and at the margin level. And it's part of our ongoing guide as we think about getting to 100 bps of margin progression per year. Operator: Our next question comes from John Barnidge from Piper Sandler. John Barnidge: My first question, going back to a comment I think you made, you cited frequency of claims in San Francisco being higher than the rest of the state. Can you talk about when that trend emerged, how much that is the case? And what correlation you think that has with introduction of autonomous driving vehicles within San Francisco? Githesh Ramamurthy: This is really over a long period of time. When you look at -- we just looked at frequency in San Francisco in particular. And what we looked at, we looked at just a few quarters, right? We just looked at the last several quarters. And what we saw is that the claim frequency in general was slightly more elevated than the rest of California. So not too much more to draw or conclude from it other than with a lot more autonomous vehicles and a lot more taxi -- Waymos and the like, we just thought we'd do a little analysis of our data because we have full visibility to the country. And not more to add other than we just thought that was an interesting data point. John Barnidge: And then generally, Software-as-a-Service is kind of a dirty word these days. Can you maybe talk about why that concern is misplaced and how you actually have leverage being brought to you from that? I saw you mentioned headcount was flat year-over-year. Githesh Ramamurthy: Yes. So let me start out with fundamentally how our business is architected, right? So first and foremost, our business, we have $2 trillion of historical hyper-local data. And that's an extraordinarily important piece because when you're settling an auto claim, it's not the price of the part or the availability on average around the country that matters. What matters is what is that price today for that particular labor rate for that particular car in that jurisdiction. So there's an enormous amount of hyper-local data that needs to be there. So our historical $2 trillion of data, daily transactions that we see that are continuing to update this data set in real time are an extraordinarily important piece of how this works in concert with our software. There are two other elements that are equally important. One is the network. the deep network of repair facilities interacting with parts providers, interacting with insurance companies, interacting with salvage yards, interacting with towers, interacting with rental, that interactivity across all the different participants is enabled by our software and that network capability makes it that for every customer being on that network, it creates a heck of a lot more value by being on that network. That's an extraordinarily important piece of it. And then last but not least, we then work with customers on very specific workflows that go across not only inside their company, but across different parts of the insurance economy to help move information, all of this ultimately feeding decision engines because at the end of the day, that's what people are doing is making a ton of decisions around the accuracy of the claim and the quality of the claim. And this is also an area where if you get it wrong, the threshold is a very, very high bar in terms of accuracy because you've got regulatory issues, you've got compliance issues, you've got a lot of these other issues. So we think the combination of having hyper-local data, a massive network with very, very deep workflows feeding these decision engines is really, really critical. So we think this combination of what we do makes us unique. Operator: Our next question comes from Saket Kalia from Barclays. Saket Kalia: Maybe I'll start with a financial question for you, Brian. I think we said that about 5% of revenue in Q4 came from the emerging products, and that grew, let's call it, at least 70% year-over-year. Can we just talk about which products are kind of driving that growth the most? And how you think about that growth in '26 as part of the guide? Brian Herb: Yes, absolutely, Saket. So within emerging solutions, we've seen really good progress on those solutions, the adoption. They are starting to scale. The areas or the products that are driving the majority of the growth, it's AI within our APD solutions. So that's key. Build sheets had a strong performance. Diagnostics had strong performance. So those are some of the key solutions that we're seeing that's scaling and growing fast. As we said, about 70% growth year-over-year. That will continue to contribute nicely as we go forward. We're not giving a hard number for the guide as far as what is being driven from emerging solutions, but we do expect it to continue to scale and be a larger part of the contribution going forward. Saket Kalia: Got it. That makes a ton of sense. Githesh, maybe for my follow-up for you. You talked about the success of casualty within the APD base, and you've been talking about this for a while, and it seems like that's starting to gain a little bit of momentum. Can you just frame that opportunity a little bit for us? And what's driving some of that market share gains now in your view? Githesh Ramamurthy: Yes. I would say when you look on a broad basis, out of x amount of dollars spent on an auto claim, roughly half and half is spent in terms of physical damage or the medical claim. So -- but what's happening is that there are two macro trends that we're seeing. One, the rate of medical inflation is running far stronger because inflation in physical damage is moderated. And so that's one aspect of it. The second aspect is that customers are really concerned, our insurance customers, in particular, very concerned about affordability of the policy for their policyholders. And as we've entered into these discussions, what we have been able to deploy and we now have more references of our customers using and deploying our casualty solutions and those references have actually created more references and more customers because we are able to actually perform and deliver performance in casualty for our customers. And we've also invested significantly in innovation over the years in addition to the latest component, which is the AI and the medical synthesis capability that came out of the work that we did with our EvolutionIQ team. So very simple, two points in terms of summary. We're seeing momentum because customers who are adopting, deploying are seeing great results that's creating momentum for other customers. And second, the innovation continues to be very strong. Operator: Our next question comes from Alexei Gogolev from JPMorgan. Isabella Camaj: This is Bella on for Alexei. So, I wanted to ask, among your top 20 insurer customers, what percentage now have three or more AI modules live across the claim journey? And how strongly does multi-module attach correlate with overall product expansion? Githesh Ramamurthy: I don't think we've given out that number on exactly how many modules by customer, but I will give you the macro trend that we're seeing across the board for every one of our large customers. What we are seeing is that the early adopters of our very first AI solution, Estimate-STP, have gained a lot of comfort and have gained a lot of confidence. And they have continued to roll that out across more states, more geographies and more customers are picking that up. But what that's also done is it's given us enormous amount of credibility using that visual AI capability to deploy solutions in reinspection in the front end of the claim, and we're also working with customers on subrogation. So I can tell you that across the board, we have more engagement across more products across all our top 20 customers. Operator: Our next question comes from Gary Prestopino from Barrington. Gary Prestopino: I have two questions. Number one, Brian, in the guide, EvolutionIQ, what is that going to do? How much is that going to hit the margin? You said it was 200 basis points on adjusted EBITDA last year. I would assume it's going to diminish as we go forward. So... Brian Herb: Yes, Gary, we're not breaking EvolutionIQ out from an EBITDA perspective, but it's certainly part of the guide as we go forward. So when we think about the guide at the high end, it's 70 bps. At the midpoint, it's 50 bps. EvolutionIQ loss that was in '25 will continue to moderate out as we go through the year. as we further integrate the business, it's going to be less clear on the specific cost base of EvolutionIQ as we go forward. So we're going to just talk about it in our total EBITDA position and our total margin position. But it's baked into the guide that we gave. Gary Prestopino: But moderating, right? Brian Herb: Yes. Yes. Gary Prestopino: Okay. Then my other question surrounds AI, which seems like everybody is talking about. Does the fact that it's starting to -- you're seeing early positive proliferation throughout your client base. And obviously, it does -- it improves efficiencies. It helps to make better decisions. Does that eventually give you the ability to price that at a higher rate than your normal 5:1 for your standard products? Brian Herb: Yes, Gary, it's Brian. We certainly see the product launches and the work that we're doing with client, we're seeing really meaningful ROI benefits across those clients that are deploying the AI. So we feel really good on the return opportunities. We have not changed our pricing structure specifically for AI. We continue to focus on driving at the 5:1 ratio. And so that gives us a lot of confidence as we're going forward on the returns we're seeing and that our pricing structure is fit for purpose. Operator: [Operator Instructions] Our next question comes from [ Peter Griffith ] from Citi. Unknown Analyst: It's Peter on the line for Tyler. Just a quick one here for me. Could you just talk about how customer deployment time lines trended with emerging solutions in the quarter and then just how you expect those to trend next year as well? Brian Herb: Did you say customer deployments? Could you repeat it? It broke up for me at the end. Unknown Analyst: Yes. Just the customer deployment time lines with emerging solutions, how that trended in the quarter and how you expect that to trend next year as well? Githesh Ramamurthy: Yes. I would say what we saw in general is as we get further down the experience curve, our ability to deploy and implement these solutions are getting a lot better. And we also spent a lot of time, as we mentioned in the Q3 call and earlier that there's a lot of learning in terms of change management and other capabilities and many of the people we brought on board to help with it. So, we are seeing, I would say, better deployments and faster deployments. We would expect that with the experience curve anyway. Operator: Our next question comes from Arvind Ramnani from Truist. Arvind Ramnani: I guess lots of questions on AI. So I'll hop on to that. With some of these advancements in AI, particularly from folks such as Anthropic and OpenAI, is there like -- I mean, is there kind of a competitive threat that you worry about where some of your customers may kind of look to partner with them? Or do you think like kind of the industry has certain specific dynamics? Or is your data so unique where kind of a frontier model may not be able to really compete with what you're offering? Githesh Ramamurthy: I'd say, Arvind, two or three things. So, first of all, this is not a hypothetical or a future. The fact is, as of today, our customers are all working with these companies. So this is something that's been going on for some period of time. We ourselves use models from all of these companies, whether it is in our software development or other areas, we use all of these tools. So, first and foremost, I would say this is not some new phenomenon. Our customers -- many of our customers have multibillion-dollar budgets. With that said, what we are seeing is that our customers are applying those capabilities on a more horizontal basis as it goes across their call centers, their policy systems, underwriting, claims, just a whole host of areas. And where they are working with us is on increasing and deepening the partnership around our specific models and AI and deployment around auto claims or casualty claims or disability claims or even workers' comp, where we just signed up one of the largest employers in the country to use our technology. So I think of this as not either/or, I think of this as and. Arvind Ramnani: Terrific. That's helpful. And I guess, I mean, are you all doing anything kind of -- I mean, I guess, maybe you have not announced it, but are you all working with any of these frontier models kind of in a specific way? Githesh Ramamurthy: Of course. The answer is we work with seven different companies of all kinds and have been for several years. Arvind Ramnani: Terrific. And then just last question for me. Is that kind of pressuring the cost side? Or is there enough of revenue and margins where that hasn't really shown up in the financials? Githesh Ramamurthy: Arvind, remember, we also have a decade worth of expertise in building, deploying AI. We get all the way down to whether certain calculations are FP8, FP16, FP32, which particular GPUs we're deploying for which particular models, whose cloud we're using for which models. So we have a fairly sophisticated approach to understanding the hardware of the deployment, the training and the inference models at a level of granularity and specificity. So after doing this for a decade, we have built that expertise in-house. Operator: I'm showing no further questions at this time. I would now like to turn it back to Githesh Ramamurthy for closing remarks. Githesh Ramamurthy: I just want to take the opportunity on behalf of all of us at CCC to say thank you. '25 was a milestone year for us in large part because of the tremendous trust that our customers have placed in us, a terrific group of people at CCC and a wonderful group of partners. 2025 was a strong year of execution and durable growth. And with the momentum that we have, we feel our platform is more essential than it's ever been. It's helped us deepen our customer relationships and with disciplined capital allocation, we have a lot of confidence in long-term growth and value creation. And I would just like to wrap up by saying a huge thank you for our shareholders for placing the trust that you do in us. Thank you. Operator: Thank you for your participation in today's conference. This does conclude the program, and you may now disconnect. Before you buy stock in CCC Intelligent Solutions, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and CCC Intelligent Solutions wasn’t one of them. 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