CCC Intelligent Q2 revenue slightly beats estimates

Overview

• US SaaS and AI platform's Q2 revenue rose 10%, slightly beating analyst expectations

• Adjusted EPS for Q2 met analyst expectations

• Company cited growing adoption of AI-enabled solutions by top insurers and repair operators

Outlook

• CCC sees Q3 revenue between $289.5 mln and $291.5 mln

• Company expects full-year 2026 revenue of $1.158 bln to $1.164 bln

• CCC projects full-year 2026 adjusted EBITDA of $485 mln to $491 mln

Result Drivers

• AI ADOPTION BY INSURERS - Co said large insurers expanded use of its AI-based claims routing and subrogation solutions, citing operational and financial benefits

• REPAIR OPERATOR EXPANSION - Co said large multi-store repair operators renewed and expanded use of its Mobile Jumpstart AI estimating solution, driving double-digit increases in participating facilities and estimates initiated

• CUSTOMER DEMAND FOR CONNECTIVITY - Co said increasing complexity in the insurance economy is driving demand for its platform to connect participants and improve decision-making

Company press release: ID:nGNX5GTPT4

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for CCC Intelligent Solutions Holdings Inc is $9.00, about 48.8% above its July 29 closing price of $6.05

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)