CarGurus Q3 revenue up 91% to $426.5M but misses guidance; Q4 outlook sharply lower

CarGurus, Inc.

2022-Q3 EPS reported $0.28 revenue$1,368,291,000

Total revenue $426.5M (+91% YoY), product revenue $214.1M (+1,105%), but missed low end of guidance.
GAAP net income to common $107.0M ($0.14 diluted EPS); non-GAAP EPS $0.21 vs $0.36 YoY.
Consolidated Adjusted EBITDA $32.9M vs $68.3M YoY; free cash flow $68.9M.
Q4 guidance: revenue $270-300M, Adj EBITDA $6-14M, implying steep sequential decline.
CEO cautions Q3 fell short, cites need to accelerate transformation; $404M cash on hand.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CarGurus, Inc. reported third quarter ended September 30, 2022 results: revenue $426.5 million, net income $18.8 million, EPS $0.14.

Period: third quarter ended September 30, 2022
Revenue: $426.5 million
Net income: $18.8 million
EPS: $0.14
Result: reported results

Exact text from the filing

specific reference in such filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 CarGurus Announces Third Quarter 2022 Results Third Quarter Highlights: • Total revenue of $426.5 million, an increase of 91% year-over-year • GAAP operating income of $28.7 million; non-GAAP operating income of $29.4 million • GAAP consolidated net income of $18.8 million; non-GAAP

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Source: SEC EDGAR

accession 0000950170-22-023186

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