TrueCar(TRUE) - 2025 Q3 - Quarterly Results

Financial Performance - Total revenue for Q3 2025 was $43.2 million, a decrease from $47.0 million in Q2 2025 and $46.5 million in Q3 2024[5] - Net income for Q3 2025 was $5.0 million, or $0.06 per share, compared to a net loss of $(7.6) million, or $(0.09) per share, in Q2 2025 and a net loss of $(5.8) million, or $(0.06) per share, in Q3 2024[5] - Adjusted EBITDA for Q3 2025 was $(0.4) million, down from $(0.2) million in Q2 2025 and down from $0.2 million in Q3 2024[5] - TrueCar reported revenues of $43.207 million for the three months ended September 30, 2025, a decrease from $46.544 million in the same period of 2024, representing a decline of approximately 5.0%[27] - The total costs and operating expenses for the same period were $50.555 million, down from $53.932 million year-over-year, indicating a reduction of about 6.5%[27] - TrueCar's net income for the three months ended September 30, 2025, was $4.997 million, compared to a net loss of $5.831 million in the prior year, marking a significant turnaround[27] - The company achieved a free cash flow of $11.197 million for the three months ended September 30, 2025, compared to a negative free cash flow of $4.792 million in the same quarter of 2024[32] Cash Flow and Assets - Cash flow from operations was $12.7 million, up from $(2.8) million in Q2 2025 and up from $1.8 million in Q3 2024[5] - Free cash flow was $11.2 million, up from $(4.8) million in Q2 2025 and up from $(0.2) million in Q3 2024[5] - TrueCar's total assets as of September 30, 2025, were $148.687 million, a decrease from $159.691 million at the end of 2024, reflecting a decline of approximately 6.9%[29] - The company's total liabilities decreased to $34.506 million as of September 30, 2025, down from $41.554 million at the end of 2024, representing a reduction of about 16.9%[29] - TrueCar's cash and cash equivalents stood at $103.186 million as of September 30, 2025, compared to $111.835 million at the end of 2024, indicating a decrease of approximately 7.8%[29] Visitor and Sales Metrics - Average monthly unique visitors increased to 5.6 million, up from 5.5 million in Q2 2025 but down from 6.9 million in Q3 2024[5] - Total units sold were 87.5 thousand, down from 89.0 thousand in Q2 2025 and down from 94.6 thousand in Q3 2024[5] - Franchise dealer count decreased to 8,225 as of September 30, 2025, down from 8,292 as of June 30, 2025[5][6] Strategic Developments - TrueCar announced a pending acquisition by Fair Holdings, Inc. at $2.55 per share, expected to close in Q4 2025 or early 2026[7][8] - Due to the pending acquisition, TrueCar will not host an earnings conference call this quarter and will no longer provide forward-looking guidance[9] - The company continues to focus on enhancing its digital marketplace and expanding its network of Certified Dealers to improve the auto shopping experience[24] - TrueCar powers auto-buying programs for over 250 leading brands, indicating a strong partnership strategy to drive growth[24]