Cargurus Q1 2022 Earnings Report
Key Takeaways
CarGurus reported a substantial increase in total revenue, driven by growth in marketplace, wholesale, and product revenues. The company also saw growth in non-GAAP operating income and consolidated adjusted EBITDA, while making strides in its strategic initiatives.
Total revenue increased by 151% year-over-year, reaching $430.6 million.
GAAP operating income was $26.7 million, and non-GAAP operating income was $62.2 million.
GAAP consolidated net income was $18.8 million, and non-GAAP consolidated net income was $48.9 million.
CarGurus had cash, cash equivalents, and short-term investments of $375.0 million with no debt.
Cargurus
Cargurus
Forward Guidance
CarGurus anticipates total revenue between $480 million and $510 million, non-GAAP operating income between $44 million and $52 million, and non-GAAP EPS between $0.26 and $0.29 for the second quarter of 2022.