CCC Intelligent Solutions Holdings Inc. announced its financial results for the three months ended September 30, 2026, alongside a definitive agreement to be acquired by a consortium of private investment firms.
For the third quarter of 2026, the company reported total revenue of $294.1 million, representing an increase of 10.1% compared to the $267.1 million reported in the same period of 2025. The company also reported GAAP gross profit of $218.0 million, with a gross margin of 74%, and adjusted gross profit of $224.6 million, with an adjusted gross profit margin of 76%.
On the profitability front, GAAP operating income was $57.4 million for the quarter, compared to $30.0 million in the prior year. Adjusted operating income was $115.7 million, compared to $93.0 million in the prior year. GAAP net income was $30.2 million, reversing a net loss of $2.0 million in the prior year. Adjusted net income was $75.1 million, up from $59.4 million in the prior year. Adjusted EBITDA for the quarter was $130.5 million, an increase of 18.5% compared to $110.1 million in the prior year.
CCC reported $202.9 million in cash and cash equivalents and $1.28 billion in total debt as of September 30, 2026. The company generated $100.4 million in cash from operating activities and had free cash flow of $82.5 million for the quarter.
In a separate announcement, CCC stated that on October 15, 2026, it entered into a definitive agreement to be acquired by a consortium led by GTCR and including Elliott Investment Management. The transaction is an all-cash deal valued at $7.75 per share, representing an enterprise value of approximately $6.1 billion. The transaction is subject to regulatory and stockholder approvals and is expected to close in the first quarter of 2027.
Regarding business operations, CCC noted that its AI-related revenue reached an annualized run-rate of approximately $130 million in the third quarter of 2026, representing 40% year-over-year growth. Additionally, a top-five insurer based on 2025 direct premium written became the largest insurer to adopt CCC's Medhub for Auto Casualty during the quarter.
In light of the proposed transaction, CCC stated that it is suspending its practice of providing guidance and will not be hosting a conference call to discuss the results.
