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Mar 31, 2025
Cargurus Q1 2025 Earnings Report
Reported First Quarter 2025 Results
Key Takeaways
CarGurus reported strong first-quarter 2025 results, with total revenue growing 4% year-over-year, driven by a 13% increase in Marketplace revenue. GAAP Net Income saw a significant increase of 83%, and Non-GAAP Adjusted EBITDA was up 32% year-over-year. The company also repurchased a substantial amount of shares.
Marketplace revenue increased by 13% year-over-year in Q1 2025.
GAAP Net Income for Q1 2025 was $39.0 million, an 83% increase compared to the prior year.
Non-GAAP Adjusted EBITDA reached $66.3 million, up 32% year-over-year.
The company repurchased $184.2 million worth of shares, representing 6% of outstanding capital.
Revenue by Segment
Forward Guidance
CarGurus provided guidance for the second quarter of 2025, expecting total revenue between $222.0 million and $242.0 million, Marketplace Revenue between $219.5 million and $224.5 million, Non-GAAP Adjusted EBITDA between $71.5 million and $79.5 million, and Non-GAAP Earnings per Share between $0.52 and $0.58.
Positive Outlook
- Anticipated growth in Total Revenue for Q2 2025.
- Expected increase in high-margin Marketplace Revenue in Q2 2025.
- Projected higher Non-GAAP Adjusted EBITDA for Q2 2025.
- Forecasted improvement in Non-GAAP Earnings per Share for Q2 2025.
- Guidance is based on recent positive market trends and industry conditions.
Challenges Ahead
- Guidance excludes potential impacts of future foreign currency exchange gains or losses.
- Guidance excludes any potential impact of future acquisitions.
- Guidance does not account for potential macro-level industry issues that could alter dealer and consumer behavior.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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