CarGurus Q1 revenue $430.6M (+151% YoY); Q2 revenue guidance $480-510M

CarGurus, Inc.

2022-Q1 EPS reported -$0.53 revenue$430,608,000

Total revenue $430.6M, up 151% YoY; marketplace +5%, wholesale +559%, product +9,896%.
Non-GAAP operating income $62.2M, up 28% YoY; GAAP net loss ($62.1M) driven by redeemable noncontrolling interests.
Q2 guidance: revenue $480-510M, non-GAAP op income $44-52M, non-GAAP EPS $0.26-0.29.
Paying dealers 30,867 (-1%), U.S. QARSD $5,713 (+5%); U.S. monthly unique users 31.1M (-15%).
Cash $375M, no debt; free cash flow $89.3M, up 114% YoY.

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