secwatch.observer — SEC 8-K summary
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Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0000950170-23-005075
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017023005075/0000950170-23-005075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017023005075/carg-20230228.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-005075

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