Every material Form 8-K CarGurus filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
CarGurus reported third-quarter 2024 total revenue of $231.4 million, up 5% from a year earlier, and GAAP net income of $22.5 million, up 19%. Nine-month results were weaker, with total revenue down 4% and a net loss of $24.9 million driven by $144.4 million of impairment-related charges. The board also authorized a $200.0 million share repurchase program for fiscal year 2025.
Q3 2024 Marketplace revenue was $204.0 million, up 15%, while total revenue rose 5% to $231.4 million.
Q3 GAAP net income was $22.5 million, up 19%; nine-month GAAP net loss was $24.9 million, including $144.4 million of impairment-related charges.
Q4 2024 guidance: total revenue of $219 million to $239 million and non-GAAP EPS of $0.50 to $0.55; full-year 2024 total revenue of $885 million to $905 million.
Board authorized a $200.0 million share repurchase program for fiscal year 2025.
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.
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.
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.
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
CarGurus reported fourth-quarter 2023 total revenue of $223.1 million, down 22% from a year earlier, and a GAAP consolidated net loss of $22.6 million, compared with net income of $23.2 million in the prior-year quarter. Marketplace revenue rose 10% to $182.3 million, and non-GAAP consolidated adjusted EBITDA rose 120% to $61.2 million, but the GAAP loss was driven in part by $55.5 million of stock-based compensation tied to CarOffer, LLC Units. The company also gave first-quarter 2024 revenue guidance of $201 million to $221 million.
Q4 2023 total revenue was $223.1 million, down 22%; full-year revenue was $914.2 million, down 45%.
Q4 GAAP consolidated net loss was $(22.6) million; full-year GAAP consolidated net income was $22.1 million, down 72%.
Q1 2024 guidance: total revenue of $201 million to $221 million, adjusted EBITDA of $41 million to $49 million, non-GAAP EPS of $0.24 to $0.29.
Chief People Officer Andrea Eldridge steps down effective April 5, 2024, with a $258,750 lump-sum severance payment.
CarGurus disclosed in an 8-K that Chief People Officer Andrea Eldridge will step down from the role effective April 5, 2024. The filing does not name a successor or give a reason for the departure, and it does not report any financial results.
Andrea Eldridge will step down as Chief People Officer effective April 5, 2024.
The filing was dated January 12, 2024, and signed by General Counsel and Corporate Secretary Javier Zamora.
The filing does not name a successor or state the reason for the departure.
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.
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