Live call and webcast will occur on February 19 at 9:00 a.m. ETSANTA MONICA, Calif., Feb. 5, 2025 /PRNewswire/ -- TrueCar, Inc., (NASDAQ:TRUE) will report financial results for the fourth quarter ended December 31, 2024 on Tuesday, February 18, 2025 after market close, in a stockholder letter that will be accessible from the company's Investor Relations website at ir.truecar.com.Jantoon Reigersman, President and Chief Executive Officer, and Oliver Foley, Chief Financial Officer, will host a call on Wednesda ...

Slice of Hope Campaign Highlights and Supports Wish Kids Through 2026THOMASVILLE, Ga., Jan. 27, 2025 /PRNewswire/ -- Nature's Own®, America's No. 1 selling bread brand, has announced a $500,000 donation to Make-A-Wish, the global nonprofit that creates life-changing wishes for children with critical illnesses. Since 1980, Make-A-Wish has granted more than 375,000 wishes to children with critical illnesses in the U.S., helping them build the strength and hope needed to fight their battles. A granted wish can ...

In partnership with DAV (Disabled American Veterans), TrueCar recognizes veteran for continued service to community SANTA MONICA, Calif., Dec. 26, 2024 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), the most trusted automotive digital marketplace, awarded a new vehicle to Army veteran Yusuf Henriques of Alexandria, Virginia. The recognition comes through TrueCar's DrivenToDrive initiative, a program made possible in partnership with DAV (Disabled American Veterans) and Sheehy Auto Stores.Henriques enlisted i ...

TrueCar, Inc. (NASDAQ:TRUE) Q3 2024 Earnings Conference Call November 7, 2024 9:00 AM ET Company Participants Jantoon Reigersman - President, CEO & Director Oliver Foley - CFO Conference Call Participants Marvin Fong - BTIG Ryan Meyers - Lake Street Rajat Gupta - JPMorgan Chris Pierce - Needham Ryan Pfingst - B. Riley Securities Wyatt Swanson - D.A. Davidson Operator Good day, and welcome to the TrueCar Third Quarter 2024 Financial Results Conference Call. Please note, this event is being recorded. I would ...

Financial Performance - Total revenues for the three months ended September 30, 2024, were $46,544,000, representing a 13.3% increase from $41,146,000 in the same period of 2023[12] - The net loss for the three months ended September 30, 2024, was $5,831,000, compared to a net loss of $7,875,000 for the same period in 2023, indicating an improvement in financial performance[12] - The company reported a loss from operations of $7,388,000 for the three months ended September 30, 2024, an improvement from a loss of $9,580,000 in the same period of 2023[12] - TrueCar reported a net loss of $25,199,000 for the nine months ended September 30, 2024, compared to a net loss of $47,864,000 for the same period in 2023, indicating a 47.4% improvement in losses year-over-year[18] - For the nine months ended September 30, 2024, the net loss was $25.2 million, down from $47.9 million in the same period of 2023[54] Cash and Assets - Cash and cash equivalents decreased to $114,509,000 as of September 30, 2024, down from $136,964,000 at December 31, 2023[10] - TrueCar's cash and cash equivalents at the end of the period were $114,509,000, a decrease from $145,474,000 at the end of September 30, 2023, representing a decline of 21.3%[18] - As of September 30, 2024, cash and cash equivalents totaled $109.532 million, down from $119.735 million as of December 31, 2023[35] - TrueCar's total stockholders' equity as of September 30, 2024, was $127,988,000, down from $160,215,000 at the end of December 31, 2023, reflecting a decrease of 20.1%[14] - The total property and equipment, net, was $16.385 million as of September 30, 2024, down from $18.880 million at the end of 2023[38] Liabilities and Obligations - Total liabilities decreased to $39,541,000 as of September 30, 2024, compared to $44,105,000 at December 31, 2023, showing a reduction in financial obligations[10] - The lease liability remaining on the balance sheet as of September 30, 2024, is $7.1 million, which will persist until the legal matter is resolved[43] - The contingent consideration liability related to the acquisition of Digital Motors was $3.873 million as of September 30, 2024, down from $5.592 million at the end of 2023[36] Expenses - Sales and marketing expenses for the three months ended September 30, 2024, were $25,049,000, up from $23,153,000 in the same period of 2023, indicating increased investment in marketing efforts[12] - The company experienced stock-based compensation expenses of $8,774,000 for the nine months ended September 30, 2024, down from $11,872,000 in the prior year, reflecting a decrease of 26.3%[18] - Stock-based compensation expense for stock option awards was $0.2 million for the nine months ended September 30, 2024, compared to $0.9 million for the same period in 2023[48] - Total depreciation and amortization expense for property and equipment was $2.8 million for the three months ended September 30, 2024, compared to $3.3 million for the same period in 2023[40] - The company recorded an impairment of right-of-use assets amounting to $6,880,000 for the nine months ended September 30, 2024[18] Share Repurchases - The company repurchased 3,875,069 shares for $12.4 million during the three months ended September 30, 2024, and 4,300,078 shares for $13.7 million during the nine months ended September 30, 2024[57] - The company has a remaining authorization of $86.3 million for future share repurchases as of September 30, 2024[57] - Following the share repurchases, the company has $80.2 million remaining for future repurchases[60] Strategic Outlook - The company plans to pursue acquisitions and investments to maximize shareholder value, as indicated in their strategic outlook[4] - The company aims to roll out new offerings, including TrueCar+, to enhance consumer value propositions and drive revenue growth[6] Market Risks - The company faces risks related to the automotive ecosystem, including low automobile inventory supply levels, which could adversely impact business operations[6] - The company’s exposure to market risk from interest rates, inflation, and currency exchange rates has not changed materially since the previous disclosure[113] Other Financial Metrics - The allowance for doubtful accounts at the end of the period was $812 thousand, compared to $1.001 million at the end of 2023, reflecting a decrease in expected credit losses[31] - The company recorded cash payments of $2 million related to contingent consideration during the nine months ended September 30, 2024[37] - The company recorded income tax expense of less than $0.1 million for the three and nine months ended September 30, 2024, reflecting state income tax expense[53] - The weighted average common shares outstanding for the three months ended September 30, 2024, was 90,323, compared to 90,176 for the same period in 2023[54] - The company recorded a contract asset of $1.0 million as of September 30, 2024, compared to $0.9 million at December 31, 2023[59] - During the nine months ended September 30, 2024, $0.9 million of contract assets were transferred to accounts receivable as vehicle sales occurred[59]

TrueCar (TRUE) reported $46.54 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 13.1%. EPS of -$0.03 for the same period compares to -$0.05 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $45.82 million, representing a surprise of +1.59%. The company has not delivered EPS surprise, with the consensus EPS estimate being -$0.03.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

TrueCar (TRUE) came out with a quarterly loss of $0.03 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this provider of localized information on new car costs would post a loss of $0.04 per share when it actually produced a loss of $0.06, delivering a surprise of -50%.Over the last four quarters, the company has surpassed consensus EPS estimates just once.TrueCar, ...

Stockholder Letter Q3 2024 Introducing True Cor+ TrueCo Meet your new favorite way to buy a car TrueCar To Our Fellow Stockholders As we continue to navigate the turnaround of TrueCar's legacy business while simultaneously laying the foundation for what TrueCar aims to become, we acknowledge that the TrueCar story is nuanced and requires investors to evaluate and underwrite the distinct opportunities that exist for both our legacy and future businesses. Driving strong near-term growth of the legacy business ...

Live call and webcast will occur on November 7 at 9:00 a.m. ETSANTA MONICA, Calif., Nov. 6, 2024 /PRNewswire/ -- TrueCar, Inc., (NASDAQ:TRUE) today announced financial results for the third quarter ended September 30, 2024 in a stockholder letter, which is available HERE and on the TrueCar Investor Relations website at ir.truecar.com.The company will host a call to discuss its third quarter results on Thursday, November 7 at 9:00 a.m. ET/6:00 a.m. PT. A live webcast of the call will be available through Tru ...

Live call and webcast will occur on November 7 at 9:00 a.m. ETSANTA MONICA, Calif., Oct. 24, 2024 /PRNewswire/ -- TrueCar, Inc., (NASDAQ:TRUE) will report financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024 after market close, in a stockholder letter that will be accessible from the company's Investor Relations website at ir.truecar.com.Jantoon Reigersman, President and Chief Executive Officer, and Oliver Foley, Chief Financial Officer, will host a call on Thursda ...