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AI brief of an SEC Form 8-K · CarGurus (CARG)

CarGurus swings to $68.7M Q2 loss on $127.7M impairment; revenue falls 9%

Mixed Impact 4 of 5 earnings Written later

CarGurus reported second quarter 2024 results with total revenue of $218.7 million, down 9% from a year earlier, and a GAAP net loss of $68.7 million, compared with net income of $13.8 million in the same period of 2023. Marketplace revenue rose 14% to $195.2 million, while the net loss reflects a $127.7 million goodwill and long-lived asset impairment. The company also gave third quarter 2024 guidance for total revenue of $212 million to $232 million.

Key points

  • Q2 2024 total revenue was $218.7 million, down 9% year over year; Marketplace revenue rose 14% to $195.2 million.
  • GAAP net loss was $68.7 million, or $0.66 per diluted share, versus net income of $13.8 million in Q2 2023; the loss includes $127.7 million in impairment charges.
  • Non-GAAP Consolidated Adjusted EBITDA was $55.6 million, up 23% year over year, with a 25% margin.
  • Third quarter 2024 guidance: total revenue of $212 million to $232 million, Non-GAAP EPS of $0.38 to $0.44.

The filing

CompanyCarGurus (CARG)
Form8-K, current report
Filed with the SECAug 8, 2024, 4:05 PM ET
Accession number0000950170-24-093892

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 August 08, 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.