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Dec 31, 2025
Cars.com Q4 2025 Earnings Report
Cars.com reported record fourth quarter 2025 revenue with modest year-over-year growth, while net income declined due to prior-year gains.
Key Takeaways
In Q4 2025, Cars.com generated revenue of 183903000, up 2% year over year, with net income of 7398000 and Adjusted EBITDA of 54896000. Dealer revenue growth offset declines in OEM and National revenue.
Revenue increased 2% year over year to 183903000, a quarterly record.
Dealer revenue grew 3% to 164423000, while OEM and National revenue declined 9%.
Adjusted EBITDA was 54896000, representing 29.9% margin.
Dealer customers increased to 19544, up 2% year over year.
Revenue by Segment
Forward Guidance
For Q1 2026, revenue is expected to be flat to up 1% year over year with Adjusted EBITDA margin between 26.0% and 27.0%. For full year 2026, revenue is expected to be flat to up 2% with Adjusted EBITDA margin between 29.0% and 30.0%.
Positive Outlook
- Q1 2026 revenue expected flat to up 1% year over year.
- Full year 2026 revenue expected flat to up 2%.
- Dealer revenue growth expected from marketplace and repackaging initiatives.
- Continued customer base growth and product adoption.
- Full year 2026 Adjusted EBITDA margin expected between 29.0% and 30.0%.
Challenges Ahead
- Near-term pressure in OEM advertising spending.
- Underlying revenue mix changes impacting margins in Q1.
- Slightly elevated technology and compensation expenses in Q1.
- OEM and National revenue expected to remain pressured in 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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