TrueCar, Inc. (NASDAQ:TRUE) Q2 2023 Earnings Conference Call August 1, 2023 9:00 AM ET Company Participants Jantoon Reigersman - President and Chief Executive Officer Teresa Luong - Chief Financial Officer Conference Call Participants Rajat Gupta - J.P. Morgan Naved Khan - B Riley Securities Tom White - DA Davidson Chris Pierce - Needham and Company Martin Fong - BTIG Operator Good day, and welcome to the TrueCar Second Quarter 2023 Financial Results Conference Call. Please note this event is being recorded ...

TrueCar, Inc. (NASDAQ:TRUE) Q1 2023 Earnings Conference Call May 9, 2023 9:00 AM ET Company Participants Zaineb Bokhari - Vice President of Investor Relations Michael Darrow - President and Chief Executive Officer Jantoon Reigersman - Chief Operating Officer Teresa Luong - Chief Financial Officer Conference Call Participants Rajat Gupta - JPMorgan Thomas White - D.A. Davidson Operator Good day, and welcome to the TrueCar First Quarter 2023 Financial Results Conference Call. Please note, this event is being ...

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, 2023 ☐ 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) Delaware 04-3807511 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer ...

TrueCar, Inc. (NASDAQ:TRUE) Q4 2022 Earnings Conference Call February 23, 2023 9:00 AM ET Company Participants Zaineb Bokhari - Vice President of Investor Relations Mike Darrow - President and Chief Executive Officer Jantoon Reigersman - Chief Operating Officer Teresa Luong - Chief Financial Officer Conference Call Participants Rajat Gupta - JPMorgan Chris Pierce - Needham Operator Good day, and welcome to the TrueCar Fourth Quarter 2022 Financial Results Conference Call. Please note that this event is bein ...

Fourth Quarter 2022 Supplemental Materials ...

Table of Contents 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, 2022 ☐ 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) | --- | --- | |---------------------------|-------| | | | | | | | | | | | | | | | | (St ...

TrueCar, Inc. (NASDAQ:TRUE) Q3 2022 Earnings Conference Call November 8, 2022 9:00 AM ET Company Participants Zaineb Bokhari - Vice President of Investor Relations Mike Darrow - President & Chief Executive Officer Jantoon Reigersman - Chief Financial Officer & Chief Operating Officer Conference Call Participants Rajat Gupta - JPMorgan Marvin Fong - BTIG Chris Pierce - Needham Vincent Sengelmann - Truist Securities Operator Hello and welcome to the TrueCar Third Quarter 2022 Financial Results Conference Call ...

Financial Data and Key Metrics Changes - The company reported a significant decline in vehicle sales, estimating July earnings at approximately 13 million, which reflects a decrease from previous months [9][23] - The company expects adjusted EBITDA to be negative for 2022, with the second half of the year showing a greater impact from planned investments [24][50] Business Line Data and Key Metrics Changes - TrueCar+ has signed 80 dealers and has over 7,000 new, used, and certified pre-owned units in inventory by the end of Q2 [12] - The average number of orders placed per week through TrueCar+ was 260, totaling nearly 3,300 orders by the end of June [13] Market Data and Key Metrics Changes - Industry-wide vehicle sales are estimated to decline by 10% year-over-year and 2% sequentially in July, indicating a muted sales environment for the second half of the year [23] - Dealer inventories for new cars remain near historic lows, contributing to elevated pricing and ongoing supply chain challenges [9][23] Company Strategy and Development Direction - The company is focused on expanding TrueCar+ beyond Florida, with plans to roll out in an additional three to five states by the end of the year [15] - The acquisition of Digital Motors is aimed at enhancing the company's capabilities in FinTech and automotive e-commerce, which will support the TrueCar+ roadmap [26][60] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the macroeconomic environment, including rising interest rates and a slowing U.S. economy, which are expected to impact close rates and overall performance [9][23] - The company remains optimistic about the long-term digital future of automotive retail and believes TrueCar+ will create new monetization opportunities once fully transactional [29][50] Other Important Information - The company has nearly $200 million in cash and zero debt, allowing for careful investment in brand awareness and marketing to support TrueCar+ [24] - The initial cash outlay for the acquisition of Digital Motors was $12 million, with an additional $8 million in earnouts based on performance milestones [26] Q&A Session Summary Question: Clarification on EBITDA path for the rest of the year - Management confirmed that the EBITDA loss run rate in the second half should be higher due to increased expenses and tight inventory [34] Question: Conversations with domestic brands regarding TrueCar+ - Management is in initial discussions with OEM partners about integrating TrueCar+ into their market strategies, emphasizing the consumer flow through their marketplace [36] Question: Insights on distance retailing features - Management noted that distance retailing is providing dealers with opportunities to expand their markets, and pilots have shown beneficial results [39] Question: Operating expenses leveraging - Management indicated that they have been pulling back on marketing expenses while preparing for a broader rollout of TrueCar+ [44] Question: Monetization methodology for TrueCar+ - Management stated that they do not anticipate additional revenue from TrueCar+ for 2022, with plans to explore monetization opportunities in 2023 [49][51] Question: Breakdown of orders in TrueCar+ - Management mentioned that the orders are a mix of new and used vehicles, with a heavier emphasis on used due to inventory constraints [53]