CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) Q1 2024 Earnings Call Transcript

Gabriela Borges: That’s helpful. And the second part of the new logo question is, in the past, when you’ve talked about expanding overseas, it’s themed with a lens towards M&A. So my question to you is what is a little bit exactly to expanding new logos over fees organically? And maybe give us an update on to — as to when you think the timing might be right to become more aggressive with M&A and expanding internationally?

Githesh Ramamurthy: Gabriela, this is Githesh. I’d just say that our first priority when we look at M&A is domestic is to look at the opportunities we have in expanding our product set. For example, with Subrogation, if you remember, a little over — it’s been almost about 2 years now. And that was a great example where we took a fantastic team and then really built that out. And those kinds of expansions we look at. On the international front, we are not at this stage that is — we continue to spend time looking at it, both in terms of Europe. We’re already in China, as you know, but not a major focus right now in terms of international.

Operator: There are no more questions in the queue. And I would like to turn the call over to Githesh for closing remarks. Please go ahead, sir.

Githesh Ramamurthy: Thank you all for joining us today. I’d just like to thank our customers, our CCC team members and our shareholders for a great start to ’24. And as you hopefully saw the durability of our business model continues to come through. We remain confident in our ability to deliver on our strategic and financial objectives while helping our customers and investing in future solutions at the same time. We look forward to talking to you again in late July when we report our second quarter results, if not sooner. Again, thank you so much for your continued interest and your support of CCC.

Operator: This does conclude today’s conference call. Thank you for your participation. You may all disconnect.