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, 2024 ☐ 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 ...

Financial Data and Key Metrics Changes - In Q1 2024, TrueCar achieved an 11% year-over-year revenue growth, reaching positive adjusted EBITDA of $0.9 million, a $12.3 million improvement from the previous year [7][8] - The company reported a 7.3% year-over-year increase in new vehicle units sold through franchise dealers, outperforming the industry's 4.9% growth [8] Business Line Data and Key Metrics Changes - The launch of TrueCar Market Solutions (TCMS) saw over 350 dealers adopting one or more products within two months, indicating strong initial interest [8][9] - The company aims to bundle TCMS products into subscription offerings to enhance dealer value and increase average revenue per dealer [9][12] Market Data and Key Metrics Changes - The normalization of new vehicle inventory and average days supply continued to improve in Q1, benefiting franchise dealers [7] - The company anticipates a 13% revenue growth in Q2 2024, driven by increased marketing spend to capture a larger share of new vehicle shoppers [14] Company Strategy and Development Direction - TrueCar's strategic goal is to become the first digital marketplace for car purchases, aiming to complete its first end-to-end digital transaction for new cars in the first half of 2024 [10][12] - The company is focusing on four building blocks for near-term growth: activating new dealers, reducing dealer churn, increasing average revenue per dealer, and growing OEM revenue [13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the core business to support the success of TC+, with expectations of returning to $300 million in revenue and a 10% free cash flow margin by the end of 2026 [13] - The management acknowledged challenges in dealer churn and emphasized the need for improved service and support to regain market share [22][40] Other Important Information - The company is working on a pilot for TC+ that will allow consumers to transact entirely online, with plans to launch in California and expand based on initial results [10][51] - TrueCar is undergoing a leadership change on its board, with Diego Rodriguez nominated to fill a seat, bringing extensive experience in business design and technology [15] Q&A Session Summary Question: Insights on second quarter revenue growth and marketing investments - Management anticipates an acceleration in revenue growth, projecting a 13% increase in Q2, with marketing spend expected to drive more incremental units to dealer partners [19] Question: Factors behind the decline in franchise dealer accounts - Management noted that dealer churn was influenced by market resets and service quality, with plans to improve support and regain lost dealers [22][40] Question: Expectations for TrueCar Marketing Solutions adoption - Management expects a majority of dealers to adopt TCMS products, which should enhance ROI and lead to better retention [26] Question: Marketing spend strategy and payback period - The company aims to balance performance-based marketing with broader support for dealers, focusing on efficient deployment of marketing dollars [29] Question: OEM incentive revenue growth potential - Management is optimistic about long-term growth in OEM revenue, although short-term fluctuations are expected due to program variability [34] Question: Clarification on independent dealer channel trends - Management indicated that while the independent dealer channel is stabilizing, month-to-month fluctuations remain unpredictable [45] Question: Details on partnerships for TrueCar+ - The pilot for TrueCar+ is being developed with a progressive dealer group, focusing on refining technical solutions before scaling [51]

SU PPLE M E NT A L M A T E RIA LS First Quarter 2024 Quarter Ended March 31, 2024 S UP P L EM ENTAL M ATERI AL S ...

TrueCar (TRUE) reported $41.05 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 11%. EPS of -$0.04 for the same period compares to -$0.16 a year ago.The reported revenue represents a surprise of -0.37% over the Zacks Consensus Estimate of $41.21 million. With the consensus EPS estimate being -$0.04, the company has not delivered EPS surprise.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

TrueCar (TRUE) came out with a quarterly loss of $0.04 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.16 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 $0.03 per share when it actually produced break-even earnings, delivering a surprise of 100%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Tru ...

Q1 2024 Stockholder Letter True Cor To Our Fellow Stockholders n Q1, we continued to deliver. We delivered double-digit revenue growth year over year (YoY), significantly reduced our net loss, and achieved positive adjusted EBITDA'. Q1 revenue grew 11% YoY driven by growth in our core dealer business and the continued strength of OEM incentive revenue. Meanwhile, our net loss decreased to $5.8M from $19.6M in Q1 2023 and we achieved adjusted EBITDA profitability of $0.9M, a $12.3M improvement YoY. Moreover, ...

Earnings Call and Webcast Details - The company will host a live call and webcast on April 30, 2024, at 9:00 a.m. ET to discuss its first quarter 2024 financial results [1] - The live webcast will be accessible through the company's Investor Relations website [1] - An archived version of the call will be available on the Investor Relations website after the event [1] Investor Relations Communication - The company uses its Investor Relations website, LinkedIn, Facebook, and X to disclose material non-public information and comply with Regulation FD [2] Company Overview - TrueCar is a leading automotive digital marketplace connecting auto buyers and sellers with a nationwide network of Certified Dealers [3] - The company provides consumers with vehicle discovery tools, price ratings, and market context for new, used, and Certified Pre-Owned vehicles [3] - TrueCar powers auto-buying programs for over 250 leading brands, including AARP, Sam's Club, Navy Federal Credit Union, and American Express [3] Investor Relations Contact - The company's Investor Relations contact email is provided for further inquiries [4]

Live call and webcast will occur on April 30 at 9:00 a.m. ET SANTA MONICA, Calif., April 16, 2024 /PRNewswire/ -- TrueCar, Inc., (NASDAQ: TRUE) will report financial results for the first quarter ended March 31, 2024 on Monday, April 29, 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 Tuesday April ...

SANTA MONICA, Calif., April 8, 2024 /PRNewswire/ -- TrueCar, Inc., (NASDAQ:TRUE), the easiest, most efficient and transparent online destination for buying and selling new and used vehicles, today announced that Diego Rodriguez has been nominated to stand for election to its Board of Directors at the company's May 23, 2024 Annual Meeting of Stockholders. Mr. Rodriguez would fill the vacancy created by Erin Lantz, who is retiring from service on the Board at the Annual Meeting. Diego Rodriguez "On behalf ...

TrueCar (TRUE) reported $41.29 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 12.6%. EPS of $0.00 for the same period compares to -$0.17 a year ago.The reported revenue represents a surprise of -0.51% over the Zacks Consensus Estimate of $41.5 million. With the consensus EPS estimate being -$0.03, the EPS surprise was +100.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determi ...