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Cargurus
🇺🇸 NASDAQ:CARG
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•
Mar 31

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.

Total Revenue
$225M
Previous year: $216M
+4.3%
EPS
$0.46
Previous year: $0.32
+43.8%
U.S. QARSD
$7.37K
Previous year: $6.7K
+10.0%
International QARSD
$2.07K
Previous year: $1.89K
+10.0%
Consolidated QARSD
$6.17K
Previous year: $5.66K
+9.0%
Gross Profit
$200M
Previous year: $175M
+14.1%
Cash and Equivalents
$173M
Previous year: $246M
-29.8%
Free Cash Flow
$60.2M
Previous year: $17.8M
+237.8%
Total Assets
$689M
Previous year: $871M
-20.9%

Cargurus

Cargurus

Cargurus Revenue by Segment

Cargurus Revenue by Geographic Location

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.
  • Reconciliation of non-GAAP guidance to GAAP measures is not provided due to the inability to reasonably predict certain reconciling items.
  • Uncertainty exists regarding the timing, amount, valuation, and number of future employee equity awards.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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