secwatch.observer — SEC 8-K summary
======================================

Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0000950170-23-040560
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017023040560/0000950170-23-040560-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017023040560/carg-20230809.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-040560

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