Adjustments for Non-Cash Items (USD, thousands)

Stock-Based Compensation (USD, thousands)

Changes in Working Capital (USD, thousands)

Capital Expenditures (CapEx) (USD, thousands)

Proceeds from / Repayments of Debt (USD, thousands)

Share Repurchases (USD, thousands)

Dividend Payments (USD, thousands)

Net Change in Cash (USD, thousands)

48fa7a0d100e4d3c9b095b9a78ff0dfa104ea97541c81e7378921938b19637ca

Software Net Dollar Retention Rate (percentage)

Software Gross Dollar Retention Rate (percentage)

Adjusted Gross Profit (thousands of USD)

Adjusted Operating Expenses (thousands of USD)

Adjusted Operating Income (thousands of USD)

Adjusted EBITDA (thousands of USD)

Adjusted EBITDA Margin (percentage)

Adjusted Net Income (thousands of USD)

Adjusted Net Income Per Share (Basic) (USD per share)

Adjusted Net Income Per Share (Diluted) (USD per share)

Free Cash Flow (thousands of USD)

Total Remaining Performance Obligations (USD millions)

Remaining Performance Obligations - Next Twelve Months (USD millions)

Remaining Performance Obligations - Beyond Next Twelve Months (USD millions)

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Current Assets (USD, thousands)

Cash and Cash Equivalents (USD, thousands)

Accounts Receivable (USD, thousands)

Inventory (USD, thousands)

Non-Current Assets (USD, thousands)

Property, Plant, and Equipment (PP&E) (USD, thousands)

Goodwill (USD, thousands)

Intangible Assets (USD, thousands)

Current Liabilities (USD, thousands)

Accounts Payable (USD, thousands)

Short-term Debt (USD, thousands)

Accrued Expenses (USD, thousands)

Non-Current Liabilities (USD, thousands)

Long-term Debt (USD, thousands)

Lease Liabilities (USD, thousands)

Deferred Tax Liabilities (USD, thousands)

Shareholders' Equity (USD, thousands)

Retained Earnings (USD, thousands)

Common Stock (USD, thousands)

Additional Paid-in Capital (USD, thousands)

e75d912ef748d09c0fbf6f1c15ccc00928f3aa2bcd7f843aa2d1b04f394cb878

Total Revenue (USD, thousands)

Cost of Goods Sold (COGS) (USD, thousands)

SG&A (USD, thousands)

Research and Development (R&D) (USD, thousands)

Depreciation and Amortization (D&A) (USD, thousands)

Interest Expense (USD, thousands)

Operating Income (EBIT) (USD, thousands)

Net Income (USD, thousands)

EPS - Basic (USD)

EPS - Diluted (USD)

babfba989f843f73d9f09753aa9f08a7de1a695368609c88399b69a03d0ef7c5

8fd7c133cd213e638da2d5b713f8f25c1744c7a43e4c336aab42bacae6f7649a

The sharp drop in **cash and cash equivalents** in **Q4 2023** was mainly driven by heavy cash outflows from financing activities. Specifically, the company repurchased **$328.5 million** of common stock, along with additional cash used for payroll tax payments on equity awards and long-term debt repayments. These financing outflows, combined with investing activities such as spending on software, equipment, and property, were not fully offset by operational cash inflows and modest positive adjustments from activities like stock option exercises and the Employee Stock Purchase Plan.  **[0000950170-24-022253_cccs-20231231.htm:106]** **[0000950170-24-022253_cccs-20231231.htm:118]** 

Why did cash and cash equivalents drop so sharply in Q4 2023?

The significant decline in total assets in Q4 2023 was primarily due to decreases in several key asset categories. Specifically, there was a notable reduction in **cash and cash equivalents** (from **$323,788 thousand** to **$195,572 thousand**), a decrease in **intangible assets** (from **$1,118,819 thousand** to **$1,015,046 thousand**), and a decline in **goodwill** (from **$1,495,129 thousand** to **$1,417,724 thousand**), leading to an overall drop of **$299,881 thousand** in total assets.  **[0000950170-24-022101_cccs-ex99_1.htm:5]** **[0000950170-24-022253_cccs-20231231.htm:118]** 

What led to the significant decline in total assets in Q4 2023?

The accumulated deficit worsened notably in Q4 2023 primarily due to a **substantial net loss for FY 2023**, **significant impairment charges** on both goodwill and intangible assets, and the impact of a **stock repurchase program**. Specifically, the company swung from a net income in 2022 to a net loss of **$(90,071) thousand** in 2023, recorded impairment charges of **$(77,405) thousand** for goodwill and **$(4,906) thousand** for intangible assets, and repurchased **32,500,000 shares**, which reduced stockholders' equity by **$328,450 thousand**. These factors collectively contributed to the increase in the accumulated deficit from **$(707,946) thousand** to **$(1,126,467) thousand**, a change of **$(418,521) thousand**.  **[0000950170-24-022253_cccs-20231231.htm:118]** **[0000950170-24-022253_cccs-20231231.htm:93]** 

Why did the accumulated deficit worsen notably in Q4 2023?

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Net cash provided by operating activities (USD, thousands)

Net cash used in investing activities (USD, thousands)

Net cash provided by financing activities (USD, thousands)

Net effect of exchange rate change (USD, thousands)

Change in cash and cash equivalents (USD, thousands)

Net (loss) income (USD, thousands)

Depreciation and amortization of software, equipment, and property (USD, thousands)

Amortization of intangible assets (USD, thousands)

Impairment of goodwill and intangible assets (USD, thousands)

Deferred income taxes (USD, thousands)

Stock-based compensation (USD, thousands)

Amortization of deferred financing fees (USD, thousands)

Amortization of discount on debt (USD, thousands)

Change in fair value of derivative instruments (USD, thousands)

Change in fair value of warrant liabilities (USD, thousands)

Non-cash lease expense (USD, thousands)

Loss on disposal of software, equipment and property (USD, thousands)

Gain on sale of cost method investment (USD, thousands)

Other adjustments to net income (loss) (USD, thousands)

Accounts receivable—Net change (USD, thousands)

Deferred contract costs change (USD, thousands)

Other current assets change (USD, thousands)

Deferred contract costs—Non-current change (USD, thousands)

Other assets change (USD, thousands)

Operating lease assets change (USD, thousands)

Income taxes change (USD, thousands)

Accounts payable change (USD, thousands)

Accrued expenses change (USD, thousands)

Operating lease liabilities change (USD, thousands)

Deferred revenues change (USD, thousands)

Other liabilities change (USD, thousands)

Purchases of software, equipment, and property (USD, thousands)

Acquisition of Safekeep, Inc., net of cash acquired (USD, thousands)

Proceeds from sale of cost method investment from investing activities (USD, thousands)

Proceeds from exercise of stock options (USD, thousands)

Proceeds from employee stock purchase plan (USD, thousands)

Payments for employee taxes withheld upon vesting of equity awards (USD, thousands)

Principal payments on long-term debt (USD, thousands)

Noncash purchases of software, equipment, and property (USD, thousands)

Contingent consideration related to business acquisition (USD, thousands)

Cash paid for interest (USD, thousands)

Cash paid for income taxes—Net (USD, thousands)

Beginning of period Cash and cash equivalents (USD, thousands)

End of period Cash and cash equivalents (USD, thousands)

a4c0e2973df9b5072f662fc80807c9e4c6a4149cf9e49902f119355d1b6cf9f1

Revenues (USD, thousands)

Cost of revenues, exclusive of amortization and impairment of acquired technologies (USD, thousands)

Amortization of acquired technologies (USD, thousands)

Impairment of acquired technologies (USD, thousands)

Total cost of revenues (USD, thousands)

Gross profit (USD, thousands)

Research and development expenses (USD, thousands)

Selling and marketing expenses (USD, thousands)

General and administrative expenses (USD, thousands)

Impairment of goodwill (USD, thousands)

Impairment of intangible assets (USD, thousands)

Total operating expenses (USD, thousands)

Operating income (loss) (USD, thousands)

Interest expense (USD, thousands)

Interest income (USD, thousands)

Other income (expense)—Net (USD, thousands)

Pretax income (loss) (USD, thousands)

Income tax (provision) benefit (USD, thousands)

Net income (loss) including non-controlling interest (USD, thousands)

Less: accretion of redeemable non-controlling interest (USD, thousands)

Net income (loss) attributable to CCC Intelligent Solutions Holdings Inc. common stockholders (USD, thousands)

CCC Intelligent Solutions Holdings Inc (CCCS)

Financials