CarGurus Q1 net income up 80% to $21.3M; marketplace revenue up 12% YoY to $187.2M

CarGurus, Inc.

2024-Q1 EPS reported $0.20 revenue$215,796,000

Marketplace revenue $187.2M (+12% YoY); QARSD growth 14% YoY; paying dealers increased.
Wholesale revenue $16.1M (-36% YoY); Product revenue $12.5M (-69% YoY); total revenue $215.8M (-7%).
GAAP net income $21.3M (+80% YoY); Non-GAAP adjusted EBITDA $50.4M (+24% YoY); margin 23% (+577 bps).
Repurchased $81.1M worth of shares in Q1, representing 3.3% of outstanding capital.
Cash and equivalents $246.3M (-21% YoY).

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CarGurus, Inc. reported the first quarter ended March 31, 2024 results: revenue $215.8 million, net income $21.3 million.

Period: the first quarter ended March 31, 2024
Revenue: $215.8 million
Net income: $21.3 million
Result: reported results

Exact text from the filing

On May 9, 2024, CarGurus, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2024.

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CarGurus, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-056887

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