---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-056887"
form_type: "8-K"
ticker: "CARG"
cik: "0001494259"
company_name: "CarGurus, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T05:33:38.724742+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0000950170-24-056887
- form_type: 8-K
- ticker: CARG
- cik: 0001494259
- company_name: CarGurus, Inc.
- filed_at: 2024-05-09T23:59:59+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/1494259/000095017024056887/0000950170-24-056887-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1494259/000095017024056887/carg-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-056887
- JSON: https://secwatch.observer/filing/0000950170-24-056887.json
- Plain text: https://secwatch.observer/filing/0000950170-24-056887.txt

## Key facts
- Earnings Releases
  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
  source text: On May 9, 2024, CarGurus, Inc. (the "Company") announced its financial results for the quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1494259/000095017024056887/0000950170-24-056887-index.htm

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