Flash FinanceUS
After hours S&P 5007,549.94+2.35% Nasdaq25,253.14+2.74% Dow 3052,389.75+2.15% Russell 20002,840.81+3.15% Nasdaq-10027,907.62+3.40% MidCap 4003,715.23+3.13% SmallCap 6001,722.37+2.89% VIX19.92-22.31% 10Y Yield4.86+0.10% Close of Nov 09, 2026
AI brief of an SEC Form 8-K · CarGurus (CARG)

CarGurus Q1 2024 revenue falls 7% to $215.8 million; net income rises 80%

Mixed Impact 3 of 5 earnings Written later

CarGurus reported first quarter 2024 results on May 9, 2024. Total revenue fell 7% year over year to $215.8 million, as product revenue dropped 69% and wholesale revenue dropped 36%, while marketplace revenue rose 12% to $187.2 million. GAAP net income rose 80% to $21.3 million and non-GAAP adjusted EBITDA rose 24% to $50.4 million, and the company guided second quarter total revenue to $202 million to $222 million.

Key points

  • Total revenue $215.8 million, down 7%; marketplace revenue $187.2 million, up 12%
  • GAAP consolidated net income $21.3 million, up 80%; non-GAAP adjusted EBITDA $50.4 million, up 24%
  • Second quarter 2024 guidance: total revenue $202 million to $222 million; non-GAAP EPS $0.29 to $0.34
  • Repurchased $81.1 million of shares in the first quarter, representing 3.3% of outstanding capital

The filing

CompanyCarGurus (CARG)
Form8-K, current report
Filed with the SECMay 9, 2024, 4:05 PM ET
Accession number0000950170-24-056887

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 09, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.