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.

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