---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-019627"
form_type: "8-K"
ticker: "CARG"
cik: "0001494259"
company_name: "CarGurus, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:53:24.715707+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CarGurus Q1 revenue $232M (-46% YoY); marketplace up 2%; GAAP EPS $0.10; Q2 rev guidance $220-240M

## Summary
- Total revenue $232.0M, down 46% YoY; Marketplace revenue $167.1M (+2%); Wholesale $25.2M (-72%); Product $39.7M (-78%).
- GAAP net income attributable to common stockholders $16.1M ($0.10 diluted EPS) vs $(62.1M) loss; non-GAAP net income $30.3M ($0.26).
- Consolidated Adjusted EBITDA $40.8M, down 38% YoY; cash from ops $66.3M; free cash flow $60.5M.
- Q2 2023 guidance: total revenue $220-240M; product revenue $26-36M; Consolidated Adj. EBITDA $34-42M; non-GAAP EPS $0.22-0.25.
- Digital Wholesale segment revenue $64.8M (-76%), operating loss $11.2M; U.S. Marketplace revenue $155.6M (+2%), operating income $26.5M.

## SEC filing metadata
- accession: 0000950170-23-019627
- form_type: 8-K
- ticker: CARG
- cik: 0001494259
- company_name: CarGurus, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- 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/1494259/000095017023019627/0000950170-23-019627-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1494259/000095017023019627/carg-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-019627
- JSON: https://secwatch.observer/filing/0000950170-23-019627.json
- Plain text: https://secwatch.observer/filing/0000950170-23-019627.txt

## Key facts
- Earnings Releases
  CarGurus, Inc. reported first quarter ended March 31, 2023 results: revenue $232.0 million, net income $16.1 million, EPS $0.10 per fully diluted share.
  - Period: first quarter ended March 31, 2023
  - Revenue: $232.0 million
  - Net income: $16.1 million
  - EPS: $0.10 per fully diluted share
  - Result: reported results
  source text: by specific reference in such filing. --- EX-99 (EX-99.1) --- EX-99 Exhibit 99.1 CarGurus Announces First Quarter 2023 Results First Quarter Highlights: • Total revenue of $232.0 million • GAAP operating income of $14.1 million; non-GAAP operating income of $36.6 million • GAAP consolidated net income of $11.9 million; non-GAAP consolidated net income of $29.0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1494259/000095017023019627/0000950170-23-019627-index.htm

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