secwatch.observer — SEC 8-K summary
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Issuer:     CarGurus, Inc. (CARG)
CIK:        0001494259
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0000950170-24-093892
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CarGurus Q2: Marketplace rev +14% YoY; GAAP net loss $68.7M on $127.7M impairment, adj EBITDA $55.6M
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- 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%).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1494259/000095017024093892/0000950170-24-093892-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1494259/000095017024093892/carg-20240808.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-093892

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