CCC Intelligent Solutions Q3 revenue rises 10%, beats estimates
CCC•CCC Intelligent Solutions reported Q3 revenue of $294.1 million, up 10% year over year and above the $290.49 million analyst estimate. The company said its proposed $6.1 billion acquisition by GTCR and Elliott is expected to close in Q1 2027.
1. Revenue growth
CCC Intelligent Solutions’ Q3 revenue rose 10% year over year to $294.1 million, beating the $290.49 million analyst consensus. Adjusted net income also increased year over year.
2. AI adoption
The company said insurers’ expanded use of AI across claims workflows drove 40% year-over-year growth in AI-related revenue. A leading insurer adopted Medhub for Auto Casualty, which CCC described as the largest application of EvolutionIQ’s technology in the property and casualty auto market.
3. Acquisition outlook
CCC said its proposed $6.1 billion acquisition by GTCR and Elliott is expected to close in Q1 2027. It is suspending its practice of providing guidance while the acquisition is pending and will not hold a conference call or webcast to discuss results.
