secwatch.observer — SEC 8-K summary
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Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000950170-23-060228
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarGurus Q3 beats Adj EBITDA guidance at $48.6M; to acquire remaining CarOffer for $75M
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- Q3 total revenue $219.4M (-49% YoY); Marketplace revenue $177.9M (+8% YoY).
- GAAP net income $19.0M (+1% YoY); non-GAAP EPS $0.34 (+40% YoY).
- Consolidated Adj EBITDA $48.6M (+48% YoY), above guidance; UK business achieved profitability.
- Accelerated purchase of remaining 49% of CarOffer for $75M cash; expected close Dec 2023.
- Board authorized $250M share repurchase program for 2024; reaffirms commitment to cash flow.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017023060228/0000950170-23-060228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017023060228/carg-20231106.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-060228

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