CarGurus Q4 revenue falls 16% to $286.7M; Q1 2023 guidance well below Q4 run rate

CarGurus, Inc.

2022-FY EPS reported $0.62 revenue$1,655,035,000

Q4 total revenue $286.7M, down 16% YoY; Digital Wholesale segment revenue fell 33% to $120.5M.
GAAP consolidated net income $23.2M (vs $34.2M); non-GAAP consolidated net income $17.4M (vs $61.8M).
Q1 2023 guidance: total revenue $195-215M, product revenue $21-31M, non-GAAP adjusted EBITDA $19-27M.
Ended Q4 with $469.5M cash and $400M revolver; free cash flow Q4 $90.5M.
Now reporting two segments: U.S. Marketplace op income $34.8M, Digital Wholesale op loss $2.6M.

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