CCC

CCC Intelligent Solutions Holdings Inc.

NASDAQ · TECHNOLOGY · SERVICES-PREPACKAGED SOFTWARE

7.67

+0.03 +0.39%

USD · close Oct 23

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MKT CAP $4.5BP/E —DIV YIELD —FCF YIELD —REV TTM —NET INCOME $42.4M +614.1%NET DEBT $1.2B52W 4.22 – 9.35SEC XBRL · TTM TO Invalid Date

How CCC rewrote its risk factors

10-K ITEM 1A · FY2024 → FY2025

Text kept

76%

of sentences unchanged

Added

new sentences

Dropped

118

sentences removed

Length

−1,892

words, now 21,832

New in FY2025

Risks Relating to Business and Industry A substantial portion of our revenue is derived from a relatively small number of customers in the insurance and automotive collision industries, and the loss of any of these customers, or a significant revenue reduction from any of these customers, could materially impact our business, results of operations and financial condition.
Our revenue is primarily dependent on customers in the insurance and automotive collision industries, and historically a relatively small number of customers have accounted for a significant portion of our revenue.
There were no customers which individually accounted for more than 10% of our total revenue during the year ended December 31, 2025.
Some of our arrangements with our customers can be canceled or not renewed by the customer after the expiration of the term, as applicable, on relatively short notice.
In addition, our brand and reputation could be impacted if our end users or insured parties have negative experiences in the claims or repair processes, which ultimately largely depends on the quality of service from our customers, but also may depend on the insured’s perceptions and expectations including regarding the value of their vehicle.
Our solutions and services used by consumers are generally customer-branded and are likely associated with the overall experiences of a participant in the insurance economy, which is largely outside of our control.
Our revenue growth rate depends on existing customers renewing and upgrading their subscriptions for our solutions.
Our future success depends in part on our ability to sell additional SaaS and AI solutions to existing customers.
If our efforts to sell our additional solutions to our customers are not successful, our revenue growth and our business, results of operations, and financial condition would be adversely impacted.
Further, our customers have no obligation to renew their contracts for our solutions after the expiration of their contract periods and our customers may choose not to renew contracts for a similar mix of solutions.
Our growth strategy depends on continued investment in and delivery of innovative SaaS and AI solutions.
If we are unsuccessful in delivering innovative SaaS and AI solutions, it could adversely impact our results of operations and financial condition.
To address demand trends across the insurance economy, we have focused on and plan to continue focusing on the growth and expansion of our SaaS and AI business.
These investments may not result in an increase in revenue and we may not be able to scale such investments efficiently, or at all, to meet customer demand and expectations.
Our focus on our SaaS and AI business may increase our costs in any given period and may be difficult to predict over time.
Our arrangements with customers also contain service level agreement clauses which may include penalties for matters such as failing to meet stipulated service levels.
The consequences in such circumstances could include monetary credits for current or future service engagements, reduced fees for additional solution sales, cancellations of planned purchases, a customer’s refusal to pay their contractually-obligated service fees, and our reputation being tarnished.
Furthermore, any factor adversely affecting sales of our SaaS or AI solutions, including application release cycles, delays or failures in new functionality, market acceptance, product competition, performance and reliability, reputation, price competition and economic and market conditions, could have a material adverse effect on our business, financial condition and results of operations.
If we are unable to successfully grow our SaaS and AI business and navigate our growth strategy in light of the foregoing uncertainties, our reputation could suffer and our results of operations may be impacted, which may cause our stock price to decline.
Factors outside of our control including but not limited to public health outbreaks, natural catastrophes, war, and terrorism, may adversely impact us, our customers, or the insurance economy.
Responses to public health outbreaks, including epidemics and pandemics, natural catastrophes, war or terrorism could result in local, national or global business disruptions that adversely affect workforces, organizations, economies, and financial markets globally, leading to an economic downturn, increased market volatility, or other adverse macroeconomic conditions, any of which could impact our results of operations or require us to modify our business processes in unforeseeable ways.
Responses to such events may impact our sales and implementation cycles and could lead to delays between incurring operating expenses and the generation of corresponding revenue or in difficulty in accurately predicting our financial forecasts.
Any economic downturn or rising unemployment rates have the potential to significantly reduce individual and business disposable income and depress consumer confidence, which could limit the ability or willingness of some consumers to obtain and pay for our customers’ products in both the short- and medium-terms, which may negatively impact the ability of our customers to pay for our services or require such customers to request amended payment terms for their outstanding invoices.
Furthermore, our largest customers are carriers who have experienced, and will likely experience in the future, losses from catastrophes, natural disasters or terrorism that may adversely impact their businesses.
To the extent a public health outbreak, epidemic or pandemic adversely affects our business and financial results, it may also have the effect of heightening other risks described in this “Risk Factors” section.
Certain trends in the automotive industry, including adoption of AI solutions, the continued adoption of semi-autonomous or autonomous vehicles and the advent of improved automotive safety features, may potentially impact the future market for, and operations of, the insurance and automotive collision industries.
While the impacts and timing of these changes are currently unknown, if this has an adverse impact on the insurance or the automotive collision industries, it could have an adverse impact on our future result of operations.
Macroeconomic factors impacting the principal industries we serve could adversely affect adoption, usage, or average selling prices of our solutions and our customers may defer or forego purchases of our solutions or services in the event of weakened global economic conditions, political transitions or industry consolidation.
We expect to continue to derive most of our revenue from the solutions and additional services we provide to the insurance industry, the automotive collision industry, and the insurance economy generally, including the automotive industry.
Also, acquisitions of customers or potential customers can delay or cancel sales cycles or result in existing arrangements being cancelled or not being renewed, and because we cannot predict the timing or duration of such acquisitions, our results of operations could be materially impacted.
Global events such as the imposition of trade tariffs, public health outbreaks, supply chain disruption, inflationary pressures, labor shortages, global conflicts and political transitions in the U.S. and globally have created and may continue to create economic uncertainty in regions in which we have significant operations.
Although many of our customer contracts include price increases over time, we cannot be sure that those increases will match increased costs in timing or amount.
Competitors may compete on the basis of price, the time and cost required for software implementation, custom development, or unique solution features or functions.
The emerging availability of “off-the-shelf” AI models and of agentic AI may increase the ability of existing and new competitors to develop technology and applications which may compete with our solutions or alter how our customers engage with our solutions in unexpected ways.
Technologies such as enhanced modeling, AI, including the adoption of agentic AI, and machine learning technology may offer certain firms, including insurance carriers, the opportunity to make rapid advancements in the development of tools or processes which may impact the industry broadly.
As our portfolio of solutions expands, sales efforts may need to be targeted to disparate groups within our customers’ and potential customers’ organizations, which will increase the time and investment necessary to compete a sale, and we may also need to invest in new ways of selling to or interacting with our customers, which may require changes to resources, approach, marketing or other business methods and which may not be immediately or ultimately successful or efficient.
The foregoing changes may require us to incur up-front costs and expenses which may not be recouped if the changes are not ultimately successful.
Even if we succeed at completing a sale, we may be unable to predict the size or term of an initial arrangement until very late in the sales cycle.
Developing software, including AI capabilities, is time consuming and costly, and investment in development may involve a long payback cycle.
Our research and development expenses were $227.5 million, or 22% of our total revenue, for the year ended December 31, 2025.

and 22 more.

Gone since FY2024

Risks Relating to Business and Industry A substantial portion of our revenue is derived from a relatively small number of customers in the P&C insurance and automotive collision industries, and the loss of any of these customers, or a significant revenue reduction from any of these customers, could materially impact our business, results of operations and financial condition.
Our revenue is primarily dependent on customers in the P&C insurance and automotive collision industries, and historically a relatively small number of customers have accounted for a significant portion of our revenue.
There were no customers which individually accounted for more than 10% of our total revenue during the year ended December 31, 2024.
Some of our SaaS arrangements with our customers can be canceled or not renewed by the customer after the expiration of the SaaS term, as applicable, on relatively short notice.
In addition, our brand and reputation could be impacted if our end users or insured parties have negative experiences in the claim process, which ultimately largely depends on the quality of service from our customers, but also may depend on the insured’s perceived value of its vehicle.
Our solutions and services generally are branded and are likely associated with the overall experiences of a participant in the insurance economy, which is largely outside of our control.
Our revenue growth rate depends on existing customers renewing and upgrading their SaaS software subscriptions for our solutions.
Our customers have no obligation to renew their contracts for our solutions after the expiration of their contract periods and our customers may choose not to renew contracts for a similar mix of solutions.
Our future success also depends in part on our ability to sell additional solutions to existing customers.
If our efforts to sell our additional solutions to our customers are not successful, our revenue growth would decrease and our business, results of operations, and financial condition would be adversely impacted.
Our growth strategy depends on continued investment in and delivery of innovative SaaS solutions.
If we are unsuccessful in delivering innovative SaaS solutions, it could adversely impact our results of operations and financial condition.
To address demand trends across the insurance economy, we have focused on and plan to continue focusing on the growth and expansion of our SaaS business.
These investments may not result in an increase in SaaS software revenue and we may not be able to scale such investments efficiently, or at all, to meet customer demand and expectations.
Our focus on our SaaS business may increase our costs in any given period and may be difficult to predict over time.
Our SaaS arrangements also contain service level agreement clauses which may include penalties for matters such as failing to meet stipulated service levels.
The consequences in such circumstances could include monetary credits for current or future service engagements, reduced fees for additional solution sales, cancellations of planned purchases, a customer’s refusal to pay their contractually-obligated SaaS or professional service fees, and our reputation being tarnished.
Furthermore, any factor adversely affecting sales of our SaaS solutions, including application release cycles, delays or failures in new functionality, market acceptance, product competition, performance and reliability, reputation, price competition and economic and market conditions, could have a material adverse effect on our business, financial condition and results of operations.
If we are unable to successfully grow our SaaS business and navigate our growth strategy in light of the foregoing uncertainties, our reputation could suffer and our results of operations may be impacted, which may cause our stock price to decline.
Public health outbreaks, epidemics or pandemics could harm our business and results of operations.
Public health outbreaks, epidemics and pandemics could materially and adversely impact our business.
Responses to the COVID-19 pandemic included, and responses to future outbreaks, epidemics or pandemics could include, certain intensified preventative or protective public health measures undertaken by governments, businesses and individuals, including orders to shelter-in-place and restrictions on travel and permitted business operations.
These responses could result in global business disruptions that adversely affect workforces, organizations, economies, and financial markets globally, leading to an economic downturn, increased market volatility, or other adverse macroeconomic conditions, any of which could impact our results of operations.
Outbreaks, epidemics or pandemics may require modifications to our business.
The impact of a public health outbreak, epidemic or pandemic on the global economy could decrease technology spending by our existing and prospective customers and adversely affect their demand for our solutions.
Further, responses to such events may impact our sales and implementation cycles which could result in us providing contract terms more favorable to customers and a potentially longer delay between incurring operating expenses and the generation of corresponding revenue or in difficulty in accurately predicting our financial forecasts.
Additionally, any economic downturn or rising unemployment rates resulting from such an outbreak, epidemic or pandemic have the potential to significantly reduce individual and business disposable income and depress consumer confidence, which could limit the ability or willingness of some consumers to obtain and pay for our customers’ products in both the short- and medium-terms, which may negatively impact the ability of our customers to pay for our services or require such customers to request amended payment terms for their outstanding invoices.
We are unable to predict the impact that a public health outbreak, epidemic or pandemic may have going forward on the business, results of operations or financial position of any of our major customers, which could impact each customer to varying degrees and at different times and could ultimately impact our own financial performance.
To the extent a public health outbreak, epidemic or pandemic adversely affects our business and financial results, it may also have the effect of heightening other risks described in this “Risk Factors” section, such as those relating to our liquidity.
Factors outside of our control including but not limited to natural catastrophes, war, and terrorism, may adversely impact the insurance economy, preventing us from expanding or maintaining our existing customer base and increasing our revenue.
Our largest customers are carriers who have experienced, and will likely experience in the future, losses from catastrophes, natural disasters or terrorism that may adversely impact their businesses.
Certain trends in the automotive industry, including adoption of AI solutions, the continued adoption of semi-autonomous or autonomous vehicles and the advent of improved automotive safety features, may potentially impact the future market for, and operations of, the P&C insurance and automotive collision industries.
While the impacts and timing of these changes are currently unknown, if this has an adverse impact on the P&C insurance or the automotive collision industries, it could have an adverse impact on our future result of operations.
Our customers may defer or forego purchases of our solutions or services in the event of weakened global economic conditions, political transitions or industry consolidation.
Our financial performance depends, in part, on the state of the economy.
Declining levels of economic activity may lead to declines in spending in the industries we serve, which may result in decreased revenue for us.
Concern about the strength of the economy may slow the rate at which businesses are willing to enter into new contractual arrangements, potentially including those for our solutions.
If our customers and potential customers experience financial hardship as a result of a weakened economy, industry consolidation, or other factors, the overall demand for our solutions could decrease.
If economic conditions worsen, our business, results of operations, and financial condition could be adversely impacted.
Consolidation in the insurance industry may result in reduced overall spending on our solutions.

and 78 more.

Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.

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