| --- | --- | --- | --- | --- | |--------------|---------------------------------|--------------------|--------------------------------|--------------------| | Transactions | Three Months September \n2023 | Ended 30, \n2022 | Nine Months September \n2023 | Ended 30, \n2022 | | Transactions | 13,562 | 39,437 | 51,860 | 172,189 | (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT ...

CarGurus, Inc. (NASDAQ:CARG) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Kirndeep Singh - VP and Head, Investment Jason Trevisan - CEO Sam Zales - President and COO Conference Call Participants Chris Pierce - Needham Jed Kelly - Oppenheimer Brad Erickson - RBC Capital Markets Naved Khan - B. Riley Securities John Colantuoni - Jefferies Marvin Fong - BTIG Ron Josey - Citi Nick Jones - JMP Securities Operator Good day and welcome to the CarGurus' Second Quarter 2023 Earning ...

Where can I buy a car like this if it is not in my area? How do I know if I'm getting the best financing? Have others liked working with this dealer? Can I complete some steps of the purchase online? … And much more. We created a listings platform to meet their needs… But 4 1. Source: SimilarWeb: Traffic Report, Q2 2023, USA 2. Compared to major online automotive marketplaces in the U.S., defined as CarGurus.com, Autotrader.com, Cars.com, and TrueCar.com; Based on YipitData as of June 30, 2023 3. 2022 CarGu ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------|-------|------------------------------|-------|--------------|-------|----------------------------|---------|--------------| | | | Three Months \nJune \n2023 | \n30, | Ended \n2022 | | Six Months \nJune \n2023 | \n 30, | Ended \n2022 | | Cost of revenue | $ | 185 | $ | 69 | $ | 328 | $ | 205 | | Sales and marketing expense | | 2,872 | | 4,086 | | 5,956 | | 8,069 | | Product, technology, and develo ...

CarGurus, Inc. (NASDAQ:CARG) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Kirndeep Singh - Vice President, Head of Investment Jason Trevisan - Chief Executive Officer Sam Zales - President and Chief Operating Officer Conference Call Participants Marvin Fong - BTIG John Colantuoni - Jefferies Tom White - D.A. Davidson & Co. Ron Josey - Citigroup Nick Jones - JMP Securities Operator Greetings, and welcome to CarGurus Q1 2023 Conference Call. [Operator Instructions] As a reminde ...

Subsequent Event Considerations The preparation of the Unaudited Condensed Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Concentration of Credit Risk The Company routinely assesses the creditworthiness of its cu ...

CarGurus, Inc. (NASDAQ:CARG) Q4 2022 Results Conference Call February 28, 2023 5:00 PM ET Company Participants Kirndeep Singh - VP and Head, IR Jason Trevisan - CEO Sam Zales - President and COO Conference Call Participants John Colantuoni - Jefferies Jed Kelly - Oppenheimer Chris Pierce - Needham & Company Marvin Fong - BTIG Doug Arthur - Huber Research Nick Jones - JMP Securities Ron Josey - Citi Operator Good day, and welcome to the CarGurus Fourth Quarter and Full Year 2022 Earnings Conference Call. Ple ...

Revenue and Financial Performance - The company relies heavily on subscription fees from dealers, which are subject to termination with 30 days' notice, posing a risk to revenue stability [124]. - A significant decline in the number of U.S. dealers due to closures and consolidations has previously impacted revenue, and future consolidations could further reduce demand for the company's products [124]. - Revenue from the wholesale sale of automobiles and IMCO is critical, and growth depends on expanding dealer engagement and retaining existing customers [126]. - Revenue increased to $1,655.0 million for the year ended December 31, 2022, from $951.4 million for the year ended December 31, 2021, representing a 74% increase [131]. - Future revenue growth is uncertain and may be impacted by macroeconomic issues such as declining wholesale vehicle prices and increased interest rates [131]. - The company expects fluctuations in revenue and results of operations due to factors like dealer subscriptions and advertisers' marketing budgets [171]. Market and Economic Challenges - The COVID-19 pandemic has led to cancellations of dealer subscriptions, with potential for ongoing cancellations due to macroeconomic factors like increased interest rates [124]. - The company faces challenges from global supply chain issues and semiconductor shortages, which could negatively impact vehicle sales and dealer demand [126]. - Increased vehicle pricing and finance costs are making vehicle affordability more challenging for consumers, potentially reducing sales [126]. - The ongoing COVID-19 pandemic has caused significant disruptions to the global economy, impacting the company's operations and financial performance [168]. - The ongoing Russia and Ukraine conflict has caused disruptions in supply chains and economic markets, impacting the ability of manufacturers to produce new vehicles and parts [173]. Operational Risks and Challenges - The company has seen a year-over-year decline in consumer visits to its sites, adversely affecting advertising revenues and impressions delivered to advertisers [129]. - The reliance on internet search engines for traffic means that changes in search algorithms could adversely affect visibility and traffic to the company's websites [130]. - The company faces potential legal and monetary liabilities due to compliance with the Telephone Consumer Protection Act (TCPA), which imposes restrictions on communications with consumers [150]. - The company is exposed to risks related to fraud and illegal activities in its marketplaces, which could harm its reputation and financial performance [158]. - The company has experienced increased turnover rates among employees since the onset of the COVID-19 pandemic, impacting its ability to retain key personnel [134]. Strategic Initiatives and Investments - The company is investing in new products and digital retail offerings to enhance dealer and consumer engagement, but success is not guaranteed [129]. - The company must continually innovate to maintain competitiveness and attract both consumers and dealers to its platforms [129]. - The company has reduced brand spending compared to pre-COVID-19 levels, which may affect brand recognition and consumer trust [131]. - The company is in the process of implementing a remediation plan to address identified deficiencies in internal controls over financial reporting [160]. Financial Position and Capital Management - As of December 31, 2022, the company had cash and cash equivalents of $469.5 million, an increase from $321.9 million as of December 31, 2021 [480]. - The company may require additional capital to pursue business objectives and respond to unforeseen circumstances, potentially leading to equity or debt financings [133]. - The company has a 2022 Revolver allowing borrowing up to $400.0 million, with no borrowings or letters of credit outstanding as of December 31, 2022 [479]. - Deferred financing costs as of December 31, 2022, were $2,442, with no deferred financing costs recognized as of December 31, 2021 [148]. Regulatory and Compliance Risks - The company faces legal and regulatory risks that could result in substantial compliance costs and penalties, affecting its financial condition [138]. - Regulatory authorities may impose civil and criminal penalties if the company's marketplaces are found to violate applicable laws, affecting dealer participation and revenue growth [149]. - The company is regularly subject to audits by tax authorities, and adverse outcomes could materially impact its financial condition and cash flows [173]. - The company is subject to potential adverse changes in tax laws and regulations, which could materially affect its effective tax rate and financial condition [173]. Competition and Market Position - The company faces significant competition from various online automotive marketplaces, which may adversely affect its business and financial results [170]. - The company's founder controls a majority of the voting power, which could lead to decisions that conflict with the interests of other stockholders [162]. - The multiple class structure of common stock concentrates voting control with certain stockholders, limiting influence from other stockholders [167]. Miscellaneous - The company relies on third-party service providers for various aspects of its business, and disruptions in these relationships could adversely affect operations [138]. - A significant disruption in service on the company's websites or mobile applications could damage its reputation and result in a loss of consumers [138]. - Seasonal fluctuations in consumer purchases and marketing spend may impact the company's operating results, particularly in the retail automotive industry [157]. - The trading price of Class A common stock has been volatile, influenced by factors such as operating performance of technology companies and market conditions [167]. - The share repurchase program may not enhance stockholder value and could affect the price and liquidity of Class A common stock [167].

CarGurus, Inc. (NASDAQ:CARG) Q3 2022 Earnings Conference Call November 8, 2022 5:00 PM ET Company Participants Kirndeep Singh - Vice President, Investor Relations Jason Trevisan - Chief Executive Officer Sam Zales - President and COO Conference Call Participants Chris Pierce - Needham Jed Kelly - Oppenheimer Nick Jones - JMP Securities Brad Erickson - RBC Capital Markets Ralph Schackart - William Blair Doug Arthur - Huber Research Naved Khan - Truist Securities Tevis Robinson - D.A. Davidson Operator Greeti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ | --- | --- | |------------------------------------------------------------------------------------------------------ ...