CarGurus, Inc. (CARG): restructuring charge — CarGurus Q2 Marketplace rev up 14%, net income $22.3M; wind down CarOffer with $14-19M costs

CarGurus, Inc.

Q2 total revenue $234M, up 7% YoY; Marketplace revenue $222M, up 14% YoY.
GAAP net income $22.3M; Non-GAAP adjusted EBITDA $77.3M, up 39% YoY.
Board approved additional $150M share repurchase, increasing 2025 authorization to $350M through July 2026.
Wind down CarOffer transactions business; expects $14-19M total costs, primarily in H2 2025.
Wind-down costs include $5M-$7M restructuring and $8M-$10M other cash costs, plus $1M-$2M non-cash charges.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

CarGurus, Inc. announced a restructuring with charges of approximately $14.0 million to $19.0 million affecting CarOffer, LLC (CarOffer), including the Dealer-to-Dealer and Instant Max Cash Offer products.

Type: restructuring
Charge: approximately $14.0 million to $19.0 million
Affected area: CarOffer, LLC (CarOffer), including the Dealer-to-Dealer and Instant Max Cash Offer products

Exact text from the filing

The Company expects to incur total expenditures in the range of approximately $14.0 million to $19.0 million

View on SEC.gov

2 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

CarGurus, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-105025

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