Solera lines-up ‘Digital Garage’

‘We posted total revenue growth of 17.2% on a constant currency basis and the highest third quarter revenue in our history of $281 million on a GAAP basis,’ said Tony Aquila, Solera’s founder, chairman and chief executive officer. ‘We are also pleased to report that the UK’s Competition and Market Authority (CMA) has cleared our acquisition of CAP Automotive, paving the way for the launch of the Digital Garage starting in the UK. Exciting additions to Solera’s vertical offerings like CAP and, soon-to-be addition, DME automotive support the roll-out of our risk and asset management platform, increase our content and fortify our digital transformation.’

Revenues from insurance company customers were $108.0 million for the third quarter, representing a 12.3% increase over the prior year third quarter. On a constant currency basis, revenues from insurance company customers for the third quarter increased 22.4% over the prior year third quarter.

Revenues from collision and glass repair facility customers were $69.0 million for the third quarter, representing a 7.4% decrease over the prior year third quarter. On a constant currency basis, revenues from collision and glass repair facility customers for the third quarter increased 5.3% over the prior year third quarter.

Revenues from independent assessors were $16.0 million for the third quarter, representing a 17.1% decrease over the prior year third quarter. On a constant currency basis, revenues from independent assessors for the third quarter increased 1.5% over the prior year third quarter.

Revenues from service, maintenance and repair facilities customers, were $32.9 million for the third quarter, representing a 12.2% increase over the prior year third quarter on both an actual and constant currency basis.

Revenues from automotive recycling, salvage, dealership and other customers were $55.1 million for the third quarter, representing a 27.9% increase over the prior year third quarter. On a constant currency basis, revenues from automotive recycling, salvage, dealership and other customers for the third quarter increased 36.8% over the prior year third quarter.