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Dec 31, 2019
Cargurus Q4 2019 Earnings Report
CarGurus finished 2019 with a strong fourth quarter, driven by U.S. marketplace traffic and lead growth, new product adoption, and international business scaling efficiently.
Key Takeaways
CarGurus announced its Q4 2019 financial results, reporting a total revenue of $158.2 million, a 25% increase year-over-year. GAAP operating income was $13.6 million, while non-GAAP operating income reached $23.1 million. GAAP net income was $13.2 million, and adjusted EBITDA was $25.1 million.
Total revenue increased by 25% year-over-year to $158.2 million.
U.S. marketplace experienced continued traffic and lead growth.
Product attach rate reached 30% with over 1,000 U.S. dealers subscribing to at least three products.
International business scaled efficiently with strong audience and leads growth.
Cargurus
Cargurus
Forward Guidance
CarGurus anticipates total revenue, non-GAAP operating income, and non-GAAP earnings per share to be in the following ranges:
Positive Outlook
- Total revenue $156.5 to $159.5 million
- Non-GAAP operating income $10 to $12 million
- Non-GAAP EPS $0.07 to $0.08
- Total revenue $156.5 to $159.5 million
- Non-GAAP operating income $10 to $12 million
Challenges Ahead
- Non-GAAP EPS $0.07 to $0.08
- The first quarter 2020 non-GAAP earnings per share calculation assumes 115.0 million diluted weighted-average common shares outstanding.
- Total revenue $664 to $676 million
- Non-GAAP operating income $78 to $86 million
- Non-GAAP EPS $0.50 to $0.55