secwatch.observer — SEC 8-K summary
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Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0000950170-24-056887
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017024056887/0000950170-24-056887-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017024056887/carg-20240509.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-056887

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