---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-023186"
form_type: "8-K"
ticker: "CARG"
cik: "0001494259"
company_name: "CarGurus, Inc."
filed_at: "2022-11-08T23:59:59+00:00"
generated_at: "2026-06-22T03:23:04.580975+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-22-023186
- form_type: 8-K
- ticker: CARG
- cik: 0001494259
- company_name: CarGurus, Inc.
- filed_at: 2022-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1494259/000095017022023186/0000950170-22-023186-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1494259/000095017022023186/carg-20221108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-023186
- JSON: https://secwatch.observer/filing/0000950170-22-023186.json
- Plain text: https://secwatch.observer/filing/0000950170-22-023186.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1494259/000095017022023186/0000950170-22-023186-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.