TrueCar, Inc. (NASDAQ:TRUE) Q1 2020 Earnings Conference Call May 7, 2020 4:30 PM ET Company Participants Danny Vivier - VP, IR Mike Darrow - Interim President & CEO Noel Watson - CFO Conference Call Participants Lee Krowl - B. Riley FBR, Inc. Marvin Fong - BTIG Steve Dyer - Craig Hallum Rajat Gupta - JPMorgan Operator Greetings. Welcome to TrueCar's First Quarter 2020 Earnings Conference Call. Please note this conference call is being recorded. I would now like to turn the conference over to your host, Dann ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36449 TRUECAR, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Numbe ...

Financial Performance - Total revenue decreased by 2% year-over-year to $83.5 million in Q1 2020[3] - Adjusted EBITDA was $9.5 million, representing an 11.4% Adjusted EBITDA margin[3] - Non-GAAP net loss was $4.213 million in Q1 2020[39] Dealer Network - Total dealer count decreased by 6% year-over-year to 15,549 dealers[3] - Franchise dealer count decreased by 10% year-over-year to 11,356 dealers[3] - Independent dealer count increased by 9% year-over-year to 4,193 dealers[3] Revenue per Dealer - Monthly franchise revenue per franchise dealer was $1,634[3] - Monthly independent revenue per independent dealer was $854[3] Unit Sales - TrueCar users purchased 197,002 units from TrueCar Certified Dealers, down 15% year-over-year[3] - New car units decreased 23% year-over-year[22]

Table of Contents Securities registered pursuant to Section 12(b) of the Act: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36449 | --- | |--------------------------------------------------------------------------------------- ...

TrueCar, Inc. (NASDAQ:TRUE) Q4 2019 Earnings Conference Call February 20, 2020 4:30 PM ET Company Participants Danny Vivier - Vice President, Investor Relations Mike Darrow - Interim President & Chief Executive Officer Noel Watson - Chief Financial Officer Conference Call Participants Lee Krowl - B. Riley FBR Shweta Khajuria - RBC Capital Markets Kyle Evans - Stephens Inc. Tom White - D.A. Davidson Andrew Boone - JMP Securities Daniel Powell - Goldman Sachs Naved Khan - SunTrust Robinson Humphrey Dan Kurnos ...

TrueCar, Inc. (NASDAQ:TRUE) Q3 2019 Earnings Conference Call November 7, 2019 4:30 PM ET Company Participants Noel Watson - Chief Financial Officer Mike Darrow - Interim President and Chief Executive Officer Conference Call Participants Kyle Evans - Stephens Andrew Boone - JMP Securities Lee Krowl - B. Riley Daniel Powell - Goldman Sachs Nick Jones - Citi Marvin Fong - BTIG Operator Greetings and welcome to TrueCar’s Third Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36449 TRUECAR, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification N ...

Financial Data and Key Metrics Changes - Revenue for Q2 2019 was $88.1 million, roughly flat year-over-year and slightly below the low end of guidance [11][25] - Adjusted EBITDA was $3.7 million, or approximately 4% of revenue, also just below the low end of guidance [11][29] - GAAP net loss for the period was $24.1 million, or $0.23 per share, compared to a loss of $6.6 million, or $0.07 per share in the prior year [31] Business Line Data and Key Metrics Changes - Franchise dealer revenue was flat year-over-year, with franchise dealer count up 3% to 12,681 dealers [25] - Independent dealer revenue increased by 12% compared to the prior year, with independent dealer count up 27% to 4,014 dealers [25] - OEM revenue was down 48% from Q2 2018, primarily due to the lack of recurring revenue from a larger OEM client [25][26] Market Data and Key Metrics Changes - Total units were 249,856, roughly flat year-over-year, with units in the TrueCar branded channel down 10% [26] - Total new units were down 7% year-over-year, while used units were up 14% [28] - Monthly unique visitors to the TrueCar channel were down 10% in the quarter, primarily due to a significant loss of organic traffic [26] Company Strategy and Development Direction - The company is focused on improving the consumer experience and plans to launch a new consumer experience across truecar.com in early 2020 [10][12] - The strategy includes leveraging core strengths such as upfront pricing, price transparency, and a strong dealer network [12] - The company is also exploring new dealer advertising products to enhance monetization efforts [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the OEM business due to a softening SAAR and a pullback in OEM incentive spending [18] - The company is optimistic about future growth driven by improvements in consumer experience and a national branding campaign [27] - Management expressed confidence in the strategic direction and the potential for organic traffic growth [11][12] Other Important Information - The company has a healthy balance sheet with approximately $177 million in cash and no outstanding debt [31] - The updated revenue guidance for Q3 is $87 million to $89 million, reflecting a negative growth of 5% to 7% year-over-year [32] Q&A Session Summary Question: How will the company balance dealer and consumer value during the brand relaunch? - Management emphasized the importance of fixing the consumer experience and ensuring that the dealer network can monetize the new consumer product effectively [38][39] Question: Can you elaborate on the new advertising products? - The sponsored listing product is designed to provide dealers with additional marketing opportunities without being traditional ads [41] Question: What is the outlook for OEM revenues in the back half of the year? - Management took a conservative approach, expecting OEM revenue to remain flat from Q2, while also managing the pipeline carefully [53] Question: How is the company addressing SEO traffic challenges? - Management noted that recent algorithm changes had mixed effects, but they are committed to improving organic traffic through better product offerings and marketing [60][61] Question: What are the expectations for unit growth in the next two quarters? - Management does not forecast unit growth but expects trends in new and used units to continue as they work on improving the consumer experience [65]