TrueCar Q1 revenue up 11% YoY, net loss narrows to $5.8M, positive adjusted EBITDA

TrueCar, Inc.

Revenue grew 11% YoY; net loss decreased to $5.8M from $19.6M in Q1 2023.
Achieved first positive adjusted EBITDA of $0.9M, a $12.3M improvement YoY.
Franchise dealer new vehicle units rose 7.3% YoY, outperforming industry's 4.9% growth.
OEM incentive revenue surged to $4.9M from $1.0M YoY from Mercedes, BMW, Stellantis.
Launched TrueCar Marketing Solutions; over 350 dealers added products in first two months.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TrueCar, Inc. reported financial results for the fiscal quarter ended March 31, 2024.

Period: the fiscal quarter ended March 31, 2024
Result: reported results

Exact text from the filing

On April 29, 2024, TrueCar, Inc. (the “Company”) announced its financial results for the fiscal quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001327318-24-000012

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