CCC Intelligent Solutions (CCC.O): AI Adoption Continues to Accelerate, but FY26 Guide Still Implies ~9% 2H Growth

研报英文原文证据摘录

CCC Intelligent Solutions (CCC.O): AI Adoption Continues to Accelerate, but FY26 Guide Still Implies ~9% 2H Growth

Action |

31 Jul 2026 04:46:22 ET │ 16 pages

CCC Intelligent Solutions (CCC.O)

AI Adoption Continues to Accelerate, but FY26 Guide Still Implies ~9%

2H Growth

CITI'S TAKE Neutral

Price (30 Jul 26 16:00) US$6.06 CCC delivered another solid quarter, with 2Q26 revenue growth of 10%

Target price US$6.50↑ and Adj. EBITDA above the high end of guidance. AI-based solutions

contributed 4 pts of growth, now representing ~11% of revenue, and grew from US$6.00

~45% y/y, though momentum appeared to slow vs. last Q with a similar Expected share price return 7.3%

$120M run-rate referenced. Management highlighted large carrier wins in Expected dividend yield 0.0%

First Look and subrogation, along with continued casualty momentum, Expected total return 7.3%

which supports the thesis that AI is moving from pilot programs to Market Cap US$3,569M

production deployments. Offsetting the strong quarter, management’s

updated outlook still implies roughly 9% y/y growth in both 3Q and

4Q,and includes a ~1 pt headwind from the roll-off of legacy first-party

casualty business. We reiterate our neutral rating as investor debate Tyler RadkeAC

remains centered on whether AI momentum can translate into sustained +1-415-951-1660

double-digit growth beyond FY26. Our estimates move slightly up and our tyler.radke@citi.com

update regression moves our TP to $6.50. Peter Griffith

peter.griffith@citi.com

2Q Beat on KPIs — Revenue grew 9.8% y/y to $285.9M, above the high end of Yitchuin Wong

guidance. Management noted ~7.5 pts of growth came from cross-sell, upsell and AI

yitchuin.wong@citi.com

adoption within the existing customer base, while ~2.5 pts came from new logos. AI-