earnings
confidence high
sentiment neutral
materiality 0.80
CarGurus Q2: Marketplace rev +14% YoY; GAAP net loss $68.7M on $127.7M impairment, adj EBITDA $55.6M
CarGurus, Inc.
2024-Q2 EPS reported
-$0.45
revenue$434,488,000
- Total revenue $218.7M (-9% YoY); Marketplace $195.2M (+14%); Wholesale $13.1M (-59%); Product $10.4M (-72%).
- GAAP net loss of $68.7M (incl $127.7M goodwill impairment); Non-GAAP adj EBITDA $55.6M (+23%), margin 25%.
- Gross profit $182.4M (+11%), margin 83% up 1,496 bps; Operating expenses $276.0M (+89%) due to impairment.
- Repurchased $61M of shares in Q2 (2.5% of outstanding); Cash & short-term investments $216.2M (-31%).