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

Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2024-02-26T23:59:59+00:00
Accession:  0000950170-24-020133
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarGurus Q4 marketplace revenue up 10% YoY; net loss $22.6M; CPO Eldridge to step down
--------------------------------------------------------------------------------

- Q4 marketplace revenue $182.3M (+10% YoY), fastest growth in 10 quarters.
- Q4 GAAP net loss of $22.6M vs prior year net income; non-GAAP adj. EBITDA $61.2M (+120% YoY).
- Repurchased $99.9M of shares in Q4, total $204.1M in FY 2023.
- CPO Andrea Eldridge to depart effective April 5, 2024; severance of $258,750 and equity acceleration.
- Completed CarOffer acquisition in Dec 2023, expanding digital wholesale addressable market.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017024020133/0000950170-24-020133-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017024020133/carg-20240226.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-020133

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