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)

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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)

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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)

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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]** 

CCC Intelligent Solutions Holdings Inc (CCCS)

Financials