---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-040560"
form_type: "8-K"
ticker: "CARG"
cik: "0001494259"
company_name: "CarGurus, Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T21:52:43.235654+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CarGurus Q2 GAAP net income $16.4M; rev down 53% YoY; Q3 guidance issued

## Summary
- Consolidated revenue $239.7M (-53% YoY); Marketplace revenue $171M (+4%), Wholesale $32M (-58%).
- GAAP net income attributable to common stockholders $16.4M ($0.12/diluted), up 259% YoY; non-GAAP $33M ($0.29), down 13%.
- Consolidated Adjusted EBITDA $45.2M (-26% YoY), exceeding high-end of guidance range.
- Digital Deal adoption reaches 2,900 dealers with over 250,000 digitally-enabled listings; Digital Wholesale segment operating loss $(6.3)M.
- Q3 2023 guidance: total revenue $201-221M, product revenue $15-25M, non-GAAP Adj. EBITDA $36-44M, non-GAAP EPS $0.24-0.27.

## SEC filing metadata
- accession: 0000950170-23-040560
- form_type: 8-K
- ticker: CARG
- cik: 0001494259
- company_name: CarGurus, Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1494259/000095017023040560/0000950170-23-040560-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1494259/000095017023040560/carg-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-040560
- JSON: https://secwatch.observer/filing/0000950170-23-040560.json
- Plain text: https://secwatch.observer/filing/0000950170-23-040560.txt

## Key facts
- Earnings Releases
  CarGurus, Inc. reported second quarter ended June 30, 2023 results: revenue $239.7 million, net income $13.8 million, EPS $0.12 per fully diluted share.
  - Period: second quarter ended June 30, 2023
  - Revenue: $239.7 million
  - Net income: $13.8 million
  - EPS: $0.12 per fully diluted share
  - Result: reported results
  source text: an online platform that supports both consumer and dealer customers at every stage of the buying and selling journey." Second Quarter Financial Highlights • Total revenue of $239.7 million, a decrease of (53)% year-over-year. ▪ Marketplace revenue was $171.0 million, an increase of 4% year-over-year. ▪ Wholesale revenue was $32.0 million, a decrease of (58)%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1494259/000095017023040560/0000950170-23-040560-index.htm

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