secwatch.observer — SEC 8-K summary
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Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0000950170-22-023186
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017022023186/0000950170-22-023186-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017022023186/carg-20221108.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-023186

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer